20 reasons to track time in 2020
There are lots of reasons to track time using an automated time tracking system like TSheets. Here are 20 of them.
1. You have to
The Fair Labor Standards Act (FLSA) requires business owners to track time for all nonexempt employees. And business owners have to save time records for a minimum of two years. Those records will be your greatest asset in a wage and hour dispute.
2. You’re not a robot
You can’t remember every minute you’ve worked. That’s not a dig at your memory—your brain just can’t do it. Sure, you could guess, but wouldn’t you rather have actual numbers to run payroll?
3. Time data gives you 2020 vision
Accurate time data shows where and how you and your employees spend your most valuable resource: time. Use it to determine profitability, estimate job costs, and balance workloads—all with 2020 vision.
4. You can bill more
Naturally, humans underestimate how much time a task will take. Track time to create accurate invoices with more billable time because you charge for every second you work.
5. You can spend less time on payroll
Automated time tracking cuts down on the time it takes to run payroll. You could watch all three extended editions of “The Lord of the Rings” with the time you’ll save each month!
6. Curb time theft
Time theft costs U.S. business owners $11 billion annually. Yikes. Automated time tracking makes it harder for employees to milk the clock or record hours they haven’t worked.
7. Prevent wage theft
Wage theft takes about $22 billion out of the hands of hourly employees each year. Not cool. Automated time tracking ensures business owners pay employees for every second worked.
8. Get more time with your family
Or your cats. Or Netflix. However you spend your free time, automated time tracking streamlines your payroll process and puts hours back into your day.
9. Nix unauthorized overtime
Millions of employees became eligible for overtime pay on January 1, 2020. Automated time tracking helps you comply with overtime laws and curb unauthorized overtime.
10. Support happy employees
Tracking employee time helps managers balance workloads, prevent employee burnout, and keep employees happy at work. Happy employees are productive employees.
11. Time data shows you when it’s time to hire
Labor is often a business owner’s biggest expense—and the most important thing to get right. Accurate time data can help you determine when it’s time to hire additional help.
12. Your accountant will do a happy dance
Time tracking makes their jobs a lot easier. Your accountant or bookkeeper will have more time to devote to growing your business and dishing out valuable financial advice.
13. Get that #paydayfeeling
Employees think payday is better than Christmas—unless their paychecks arrive late. Automated time tracking ensures business owners pay employees correctly and on time.
14. Time data boosts employee accountability
Time is your most precious commodity (unless you deal with antimatter, which costs about $62 trillion per gram). Automated time tracking holds employees accountable for their time at work.
15. Help everyone take a break
If you live in one of the 21 states that mandate employee breaks, you need to track time to comply with those laws. Remember, there’s a direct correlation between breaks and productivity.
16. You and your employees can take a vacation
Vacations decrease stress, increase productivity, and boost employee happiness. Automated time tracking ensures employees know how much PTO they’ve earned and when they can use it.
17. It’s not your grandma’s time clock
Paper time cards and punch clocks are so 1920s—right up there with silent movies and the Model T. Automated time tracking is the way of the future. And the future is now!
18. Get paid faster
Stop struggling with cash flow. Show your clients exactly how much time and effort their projects take, using detailed invoices that help you get paid on time.
19. Stop wasting time
The average internet user spends over two hours per day on social media. How do you stack up? Track time to identify and cut back on your biggest time-wasters and nonessential activities.
20. Hindsight is 2020
If you choose not to track time this year, you’ll regret it. Yes, that sounds foreboding, but we don’t mess around with time and money. 2020 success starts with accurate time tracking.
TSheets can help.
TSheets is the top-rated mobile time tracking app, with over 20,000 five-star reviews. People who use TSheets bill more, reduce payroll costs, and save three hours a week managing employee time, on average.* With an intuitive mobile app, real-time scheduling, and smart reporting, TSheets is time tracking employees love!
*TSheets surveyed 4,906 customers in the U.S. in December 2019. Businesses that report gross payroll time savings save an average of 3.15 hours per week and 5.14% on payroll costs.
Save time. Save money. Do it all in 2020.
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