It is an entry form for recording the amount of worker’s time spent on each job. Traditionally it was available in tabular format. But in this era, timesheet is now often in digital document or spreadsheet. It is beneficial for the small and large scale of businesses as well.
Normally, timesheets are weekly and sometimes they show all the days of a pay period. Totals are often shown at the bottom of each daily column, and weekly totals are shown below those. Pay period hours may also be displayed, where the expected numbers of an hour are compared with actuals. Good timesheets may make life simple for both companies and employees.
THE BENEFITS OF EMPLOYEE TIMESHEETS:-
As well as helping you gain a greater understanding of what is going on in your company on a daily basis, employee timesheet also help companies save time and money by pointing out where inefficiencies lie in workflows or in teams.
HOW EMPLOYEE TIMESHEET CAN SAVE TIME?
Being able to see what everyone is working on and how long they spend working throughout the day, not only informs you to make better decisions, but can also make you a more empathic leader, as you understand intimately how hard your employees are working and the sacrifices they are making to help you grow your business. Showing empathy at work can inspire your employees to commit to their jobs more readily, make greater sacrifices, and can make your team better respect you as a leader – all things which can greatly boost your business’ chances of success.
Why Employee Timesheets Can Save Your Company Money?
Better understanding your business, and having concrete information that tells you exactly what your employees are working on each day, can help you to make substantial and necessary savings that can make your business more profitable.
Being better informed also means that you can make better decisions around resourcing and staffing, and can avoid costly hiring mistakes.
How Employee Timesheets Help Agencies?
If you run an agency or a client-facing business, employee timesheets can serve as a great way to reassure your clients that projects are being handled effectively, efficiently, and productively, and that their money is not being wasted on ineffective workers.
Employee timesheet can help you keep track of whether you are making or losing money on a project. If you’re providing a client a fixed-fee, employee timesheets allow you to monitor how much time is being spent on a project (and spend per hour), so that you don’t end up losing money.
How to Implement Employee Timesheets?
The benefits of using employee timesheets in your company are pretty clear, and they are an inexpensive and easy way to make your business run better, your clients happier, and your employees more productive.
To get started, create a top-down approach to employee timesheets, and mandate that all of your top-level employees (including yourself) start using timesheets for every work day. Then to make the transition to using employee timesheets even smoother, encourage competition between employees and teams – give out monthly awards for the most productive and efficient team or employee, and make the process of tracking time an activity that your employees will want to do. Also create a culture of transparency in your workplace, where all employee timesheets (yours and your executives’ included) are shared among every worker. That way, you can all see what everyone is working on, and less productive employees will feel slightly pressured to increase their productivity to bring it in line with their peers.
Are You Ready to Implement Employee Timesheets in Your Company?
Employee timesheets can be the solution to many of the problems businesses face today. They can help founders and executives gain a better understanding of what goes on in their companies, they can help businesses justify their invoices to clients, and they can help improve efficiency and reduce time-wastage.
