As technology continues to advance, our world, in a way, becomes smaller and smaller. From a business standpoint, though, the opposite is actually occurring.
Advances in technology have made it easier than ever for work environments to expand far beyond the traditional one office location, for any size business in any industry. While this technology has made the business world seem smaller in a sense – as it’s easy to communicate in real-time with people across the globe – it has made the job of managing this new world more challenging in some respects.
Areas that have always been an area of concern for most businesses – creating schedules, tracking time or business days, integrating with payroll and generally managing a workforce – become even more difficult as more employees or entire departments work outside of the traditional office setting.
Time Management Systems have been around for a few years now, but they have become ever more important and even necessary as the business landscape continues to change at an accelerating pace. And as the technology for Time Management Systems themselves has gotten better, so too has the ability to effectively manage a workforce.
Here are four ways that employing a Time Management System into your company can be beneficial.
- 1. It Can Cut Expenses
Employing a Time Management System is an investment, not a cost. That’s because a Time Management System can actually save your company quite a lot of money in the long run.
This expense saving can happen in a number of different areas.
First, an effective Time Management System can help you create a more efficient schedule for your workforce, optimizing the skills of each of your employees while minimizing the use of things such as overtime.
Second, a Time Management System can reduce the amount of time that certain departments such as Human Resources spend on mundane yet crucially important tasks such as tracking time, logging time, verifying time and then generating payroll. The Time Management System can do all of these tasks automatically, without the need for manual paper tracking as was the norm in the past.
- It Can Cut Down on Administration
The highest-paid employees of a company are typically in management level positions. They’re there because they can contribute to the company’s bottom line by reducing expenses and increasing revenue. Oftentimes, though, these people are bogged down by other administration duties related to managing a workforce.
A Time Management System ends up putting a lot of the administration of these duties onto the employees themselves in a self-service way. For example, managers no longer have to wade through time sheets or handwrite them themselves because the digital time clock system will do that all for them.
In addition, employees could have the ability to clock in and out of work using a variety of technological advancements such as the use of mobile devices and even biometric scanning to clock in and out. These removes a big chunk of administration time and, as a result, money.
- It Centralizes Data and Keeps It Safe
One of the most important aspects of business today is data collection, data analyzation and data safety. These three areas are very difficult to do with manual paper tracking of important employee information and company data.
What a Time Management System can do is streamline the data collection process, centralize the data that is collected, provide for easy analyzation of this data through digital tools and then ensure the safety and security of the data up to today’s standards.
The most effective Time Management Systems are cloud-based, which means that they are not only accessible from anywhere in the world, but they also provide top-notch security for all this absolutely essential company and employee personal information.
- It Enables Easy Off-Site Management
The best Time Management Systems allow for easy management and administration of off-site workforces, no matter how large and/or diverse that workforce is and/or where it is located.
Two prime examples are construction companies and companies that outsource their manufacturing to Mexico.
In the first scenario, large, diverse workforces are deployed to multiple job sites at various times throughout the week. Not only does each specific employee require specific access to different parts of the job site, but they also often require different rates of pay that have overtime requirements as well. Sometimes, construction companies must manage a partial union workforce, which brings with it a slew of other administrative challenges.
In the second scenario, companies must find a way to effectively and efficiently manage a workforce in an entirely different country that may speak an entirely different language and necessitate an entirely unique pay grade.
A Time Management System can handle all of these difficult challenges by integrating everything into one easy-to-use platform. Managers within the company can set pay grades for each specific employee when they are entered into the system, so that they’re paycheck is approved and distributed properly and accurately once they log their time.
This technological capability makes it easy for management to handle what used to be tough challenges that may have been next to impossible even 10 years ago. Today, though, by choosing the right Time Management System and implementing it properly, companies can save time and money while streamlining their operations, leading to a more efficient workforce that helps produce increased levels of revenue.