When your employees are productive, profitability typically goes up. However, when it comes to accurately tracking employee work hours and job costing, most business owners don’t have adequate tools to monitor and report on profitability at every job level.
The good news is that accurately tracking work hours, schedules, job codes, and more have been resolved through automated time and attendance scheduling software.
The old saying that time is money is especially accurate when it comes to staying on budget and tracking employee work hours. Luckily, for businesses who need to record job-specific work hours or quantities for a day, week, month, or even year, it has never been easier to gain access to in-depth job costing data through employee time tracking software. With this information available, businesses can be more competitive when it comes to winning projects and are more profitable in the long run.
Simplify Job Costing
If your business is looking to simplify administrative tasks related to job costing or profitability, below is a list of five unique features that can help simplify job costing through automation.
- Job Switching – It is typical for workers to switch between jobs, departments, or other labor categories throughout their workday. Every minute of tracking counts when it comes to job costing, which makes this type of job-based work challenging to track accurately. The good news is that most modern employee time tracking solutions come equipped with the ability to allow employees to switch between jobs seamlessly. This will enable you to capture precisely how much time was spent on each job automatically with little to no oversight.
- Pay Rates by Job – One significant way to reduce job costs remain within your budget is by having the flexibility to assign pay rates to specific jobs. With automated online time clock software, you can pay your employees based on the individual worker as well as the job they’re working on at any given moment. By having pay rates tied two jobs automatically, your labor costs are more accurate, and the amount of time spent on administrative tasks is significantly reduced.
- Job Reporting – One of the most significant aspects of controlling your job cost is reporting, which means the ability to view labor costs as they occur. With automated employee time tracking software and the ability to assign pay rates to specific jobs, management can build reports by job code, location, department, and many other labor types. These costs can be viewed in real-time as well as upon completion. This ability allows you to maximize both profits and productivity in the short and long term.
- Mobile Access – For many businesses, having a physical time clock at every location or job site is not practical due to environmental or cost challenges. This is especially true in a time where organizations are trying to cut down on physical contact to reduce the spread of coronavirus. However, with employee timesheet software, workers can use their mobile devices to punch time and quickly switch between job codes. Suppose you need to validate an employee’s location. In that case, GPS tracking can satisfy this requirement by providing a location stamp every time an employee punches in or out or switches between jobs.
- Employee Scheduling – Last but most certainly not least, an employee scheduling tool comes with the ability to set schedules while keeping in mind vital aspects such as budget, labor needs, or skill set. Building schedules with online software allows scheduling managers to create shifts in a matter of minutes vs. hours. This feature will enable them to project labor costs, determine if overtime is needed, reduce overstaffing, and minimize waste. All of which allows a business to increase productivity and intern profitability.
If your business needs better team time tracking for job-based work and wants to improve its profitability and gain better control over your labor costs, employee time tracking software may just be the perfect solution.