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Running an Event Planning Business

Everyday Strategies for Controlling Excessive Absenteeism

Benefits of Time Management and Building Cohesive Teamwork

 

Time Management with employees can be the difference between profit and loss. It is a major function of any business. Companies depend on information produced by P&L Statements (Profit & Loss). It isn’t just a matter of producing enough work to cover the employee’s salary, but the P&L must show an overall profit after expenses.

 

Controlling Excessive Absenteeism

Tracking Time

There are many ways to track employee time on tasks and projects. Free software is available for simplistic tasks, and project management tools for more detailed and complicated tasks. Software costs will depend on the capabilities of the product and the intended results.

Many times clients request a breakdown of time and charges on their invoices. Time allotment of many tasks can be estimated from previous records, and used for estimating and quoting charges for specific jobs. Attorneys keep detailed charges broken into areas of phone conversations, research, prep, administrative, photocopies, filing fees, etc. Then you have other tasks more complicated and detailed with material costs, coupled with manufacturing and shipping costs. Whatever the case, time management must encompass all particulars of a product.

 

Employee Time Management

Time Management Software

Employees feel threatened when time tracking software enters the equation. They feel threatened, stressed, and insecure. Employees should view software tracking as a “good” thing. Time tracking software has enlightened many managers as to the employees who are overworked and many who need additional tasks to fill their daily workload. Of course, it can attract attention to slackers, too.

Time management software is not intended to single out any one person, but to more accurately justify the production costs of manufacturing whether it is an assembly, typing input, research, proofreading, or the overall cost of the product.

Managers Should Create a Process to Set the New Practice in Place

Consider the following ideas to improve the current absenteeism issues in your organization.
– Send out reminders each morning for the first week. Tracking time is an added step to an already established routine.
– Create the documentation for new hire HR policies.
– Create an incentive for those who remember to track their time accurately, and this can also apply to groups creating a more cohesive work atmosphere.
– All the above suggestions will create an incentive to comply and adjust to the new process.

Time Management Software will

– Help locate wasted time. Not necessarily employee wasted time, but outdated or incorrect process time. Possibly the process in use is outdated and needs revision or a new approach to the process is recommended.
– Prioritizing tasks in a project can be challenging. Possibly breaking the project into tasks, then prioritizing those tasks would help streamline the process.
– Reviewing the tasks to ensure all sections of the project need to be completed in-house. Possibly, some of the tasks could be outsourced. Outsourcing work also alleviates stress and error in many cases.

Managers Often, Test the Stress

– Improvement to some tasks may take a few revisions before the process is streamlined for ease and efficiency.
– Perhaps some workers adapt better to certain tasks than others, and a change in tasks should apply.
– As they say, practice makes perfect. Reassure the staff that monitoring is related more to streamlining production than individual capabilities.

Time Tracking Results – Happier Employees

– Employees will realize the benefits of time tracking as job recognition and job appreciation.
– Equality of workload. Balancing the workload of each employee for production and quality.
– Employees will appreciate the importance of teamwork and job satisfaction.

Time Tracking Results – Happier Clients

– The tracking software can be used as a method of updating the client of progress on their project.
– The tracking software can justify costs and quality.
– The software can also assist the client in projecting product readiness and projected sales.

 

Adopting Best Practices

 

Adopting a good time tracking method in any business will immediately pay off. Business owners and managers will immediately know where time is lost, and this is where TIM (Time Is Money) fits into the equation. Participation of staff in resolving best practices in business creates a more cohesive team, which in turn, creates efficiency.

The number of products on the market for time management and time tracking are numerous, but the benefits of using time tracking methods are endless. Efficiency is probably the most important factor; P&L is essential, and the capabilities of staff determine the overall cost.

 

 

Content courtesy of Neches FCU, an Equal Employment Opportunity Employer.
Neches FCU is one of the most trusted Texas credit unions. Their attentive team of professionals are ready to service all members every day when the doors to their 9 service centers open. Their core objective of “Ultimate Member Satisfaction” is the sole focus for every representative, and it shows in their dynamic and enthusiastic work atmosphere, providing a memorable service experience to all members.

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