No matter how big your company It can be a challenge to track your employees’ activities and hours they are working in their offices. If you’re a small-sized business it isn’t crucial to be keeping track of what your employees are doing, and even if you’re sufficient to house an entire HR department It can be difficult to keep up with hours worked or holidays, without a system in place.
One system that most companies use is timesheets. It’s a good idea to consider using timesheets to manage your employees and other crucial processes. As with all systems timesheets have advantages and disadvantages So, make sure to take a look at them before you make the decision about the best option for your business.
Pro: automated systems to ensure increased efficiency
One of the greatest benefits of timesheets is that they can assist in making many operations more productive. Payroll is the most significant benefit because everything is automated. there’s no need for payroll staff have to calculate manually the number of hours that a employee has been working during the month. Instead, a timesheet tracks it, which allows payroll and HR staff free to focus on other tasks.
The time you’ll save by the implementation of timesheets may allow you to use employees for other projects or that your team could be cut down to achieve savings in terms of money. You’ll see that timesheets simplify life for your company, and it’s your choice how you can make the most of this.
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Pro: lower cost due to the accuracy of invoicing
Concerning savings on money, timesheets can help you keep track of invoices especially when you work as an agency or working with an agency for you. If you’re keeping track of the hours of work your team has performed to invoice a business that you’re employed by, or keeping track of the work that your employee has completed for you, it can help to ensure that invoices are accurate and assures fair and accurate payment.
This means that, when you invoice another company it will be possible to show the amount of time you invested, so that you’re paid for the work you’ve done. In the event that you’re evaluating the work completed by someone else, you’ll never be able to pay more than what you’re required to. In either case it’s possible to reap financial benefits of the timesheet system.
Pro: monitor staff behavior and adjust roles
No matter how long ago you’ve been operating for as a company but the reality is that roles must evolve and evolve, and at times become redundant. It’s all about fluidity – businesses that can adapt to the changing times will prosper more. With a bit of imaginative thinking, timesheets can assist you in this.
They can help you determine the departments that have staff remain in the office for longer and thus require help from resources. Additionally, you can identify which departments might be too straightforward, as employees clock out regularly which suggests that their time should be prioritized in order to be efficient for the whole team.
Con: additional tasks for staff to complete
The HR and payroll staff will appreciate timesheets due to the time saved by having a lot of their routines automated. Anyone else who is working for you might have a different perspective. While before, they had everything tracked for them and now they must take a portion of their work week to fill out an expense report.
This may seem like an inconvenience of a minor nature, and most likely, that’s precisely what it is. But, employees may be tasked with more tasks and you have to be sure that your employees don’t get upset being put under additional responsibility on them.
Con: Human error is quite likely
No matter how well you automate your timesheet and how sophisticated your online solution is, timesheets are dependent on a human interaction. Thus, there’s going to be a significant possibility of human error occurring at some point in the future. It could be entirely accidental – errors are natural , after all. Or there’s the possibility of someone manipulating their hours for a motive.
Whatever the case, you’ll need to think about a method of checks to ensure that errors are detected and do not continue to impact the payroll. If someone has been not recording the correct hours they’ve worked, you should not pay the employees higher or lower than what they’re entitled to. It could be expensive and difficult to determine when it’s eventually found out.
Con: morale could be damaged when you don’t handle it properly
If you decide to implement timesheets in your company, you must to make it a part of the entire business. If you begin picking and the employees who are using them, the possibility is that morale may be affected. The employees will be confused as to what the reason is for them to track their time, whereas other employees don’t.
It’s even applicable to your employees. Employees do not like seeing management treated differently than them, which is why it’s crucial to ensure that if you plan to utilize timesheets, you ensure that everyone following the same procedure from the upper management team. Additionally, it will help you maintain order and ensure that efficiency savings are running throughout your entire enterprise. The benefits will only be realized when everyone is in agreement.
Are timesheets the right choice for your company and you?
After considering these options, you might decide that you’d like to think about implementing timesheets in your company. They’re not suitable for all businesses, however most businesses consider they are a great method to save money and time, and when you’re aware of the possible drawbacks and the potential drawbacks, you’ll usually find ways to ensure that they don’t pose a problem.