Starting a business is one of the most challenging tasks any person could take on. It is a journey that will take you through all sorts of emotions and experiences, and regardless of how it turns out, you will become a different person afterward. While there are many complicated angles to running a company, it is handling the people that are often the most challenging. Sometimes, you will have to be the bad guy, and others, you will find yourself in conflicts.
It is important that you stay on top of things, and this is why using a timesheet template should be a priority.
Keeping track of employees
A timesheet template is perfect for smaller businesses that don’t have dedicated software to keep track of employee’s performance and what tasks they are working on. It will help you get simple things like employee attendance out of the way, and you will not have to worry about what your people are doing at all times. This way, you can focus on more pressing matters and leave the whole attendance and performance aspects of the business to the timesheet, which can help you in several ways.
Increased productivity
One of the most important benefits of a timesheet template is the fact that it will help improve productivity in the workplace. This happens because you will be able to minimize wasted time as you keep track of your people’s progress through those sheets. Fact is, timesheets, timecards & payroll can all be managed much more efficiently if you have a template that you can use and adjust whenever needed. You will know just who is working on what, and how much they spent working on those tasks. This will help you make more efficient decisions in the future and will significantly boost productivity because employees know they are working according to timesheets, so there is definitely no time to slack around. In short, using timesheets will make you a better leader as you will be more empathetic to your employees’ efforts since you know they haven’t been wasting time.
Better resource management
Another very important angle to utilizing timesheet templates is how they will help you better manage your company resources. Before using a template, there were probably a lot of tasks that were inefficiently done because there weren’t enough people or because you had other employees involved with a less important task. Using the timesheet, you will have a much better understanding of your company resources, and more importantly how they should be allocated in the future.
Improved billing
This one is integral for both your business and the clients. They need to know that they are being billed for accurately and efficiently, and the best way to do that is to use a timesheet template. This way, they will know that their money isn’t being wasted as they will have a full picture of exactly how many hours were spent working on projects. This is also relevant to your own company as you will have hard evidence of the hours your people put in, so it will make it much more difficult for the client to try and find a way out of paying you. In short, using a timesheet template ensures that all parties get what they deserve.
Better project management
It happens quite often that a company has an error in their process, and it causes problems with projects at a consistent rate in a certain phase of a new one. The best way to identify and eliminate those persistent errors is through a timesheet template. It will help you understand just where it is exactly what your people fall short in every project, and you will be able to take action to rectify the problem. Timesheets are also vital for tracking project costs and ensuring that you are on a budget –– as well as identifying why you might have gone over it.
Efficient Time Management
As mentioned earlier, the timesheet template can be used in several departments in your company, like payroll, human resources, and accounting. This significantly improves your work process and more importantly makes your employees’ lives a lot easier, because they don’t have to waste time doing mundane tasks like manually inputting employee attendance. Using a timesheet template also entails fewer errors as human input is minimized.
As you can see, using a timesheet template can do your business a world of good, and it can help you save time, effort, and more importantly money. The best thing is you can find plenty of great ones online, so you don’t even need to create your own from scratch.
