Whether you own your own small business or work as a manager in a multinational corporation, you know that productive, hardworking, and happy employees will drive the success of your company. You also know that lazy and unmotivated employees that constantly slack will not do any good for themselves or your business.

One other thing which also has a huge part in the success or failure of all companies, no matter how big or small they are, is the 8-hour workday. What employees do with those 8 hours combined with their effectiveness and overall productivity can make or break a company.

That is why it is your job to ensure that you and all your employees use those 8 hours to most effectively impact your company. Utilizing time tracking and employee time monitoring software is one way to ensure that time, which is the most precious commodity we all have, is not wasted.

Some people, both employees and managers, think that time tracking software is intended to micromanage employees. However, that is not true. In fact, these software are designed to make the lives of employees and their managers much easier while at the same time helping them be more productive which in turn leads to more profits for the company.

Just stating this is not enough to convince some people which is why today, we will show you 5 reasons why your small or medium-sized business needs time monitoring software.

1. Helps You Manage Your Projects More Easily

For those projects already in the pipeline, time monitoring app allows the project managers to see a complete overview of the project. This can help them better allocate their people and resources while at the same time providing flexibility and the ability to adapt to any challenges and avoid missing due dates and going over budgets.

2. Increases the Productivity of Your Employees

Employee time monitoring software tells you how long all tasks actually take to complete. It also helps you determine whether or not your employees are spending their time on the right projects. It can also affect the satisfaction of your employees by properly setting their expectations and showing them which of their tasks take the longest.

3. Helps You Better Plan Your Projects

By properly planning all aspects of a project - resources, budget, specificities, and people, you are able to calculate the best possible ROI for you. The data you get from employee time monitoring software can help you accurately plan any future projects by showing you how much time, money, or other resources you spent on previous similar projects. You can use that data to give a ballpark estimate of your costs which allows you to create proposals faster.

4. Helps Your Employees Further Develop Their Skills

Working with employees to further enhance and improve their existing skills and to help them develop new ones is a great way to keep your employees working for you for longer. And time management software can help you with that. It provides you with data that you can use to determine the strengths and weaknesses of all your employees. You can then support them in developing their skills in the areas they enjoy the most or assigning them to a better suited role.

5. Reduces Your Costs

All businesses want to earn as much as possible while at the same time spending as little as possible. Wasting time or spending it inefficiently reduces your profits. With employee time monitoring software, you are able to properly identify if any minor tasks are taking longer then expected instead of using that time to work on larger, much more important tasks. 

Final Thoughts

Keep in mind that implementing a time tracker software could potentially backfire if you do not properly explain the benefits to your employees. But if you take your time to do that, your employees will most likely be on board with it.

The benefits of time tracking software for both the company and the management are huge. It helps you better plan and manage all your projects and tasks, it reduces your costs, helps your employees be more productive, and give you the data you need to determine which of their skills should be developed further.