Posted by Gina Edwards on 22.06.2017
Productivity killers. They are the annoyances, distractions and obstacles that kill off productivity during the working day. From self-confessed weaknesses connected to the vending machine and mobile phone pings, to management failings and badly-scheduled projects, there’s a bunch of inefficiencies stopping millions of people from getting their jobs done.
If you’re willing to take time out of your day – on your return from an extended tea break or pointless meeting, perhaps – to read the stats, this epidemic of time-wasting is getting worse. According to Salary.com, 89% of employees admitted to wasting time every single day, which was up on 69% during the previous year. Some 31% of respondents wasted roughly 30 minutes daily, while an incredible 2% said that figure was as high as five hours!
64% of employees visit non-work-related websites each day, a term known as ‘cyberloafing’. The Salary.com report also reported that employees waste time at work because they’re not challenged in their job, they work long hours, there’s no incentive for them to work harder, or they feel unsatisfied, bored or underpaid.
Posted by Gina Edwards on 06.06.2017
Project time tracking is critical. If you can’t deliver on time as a project manager, you’re not really delivering at all. Estimating how long it will take to complete a contract, and then hitting targets by using effective time tracking solutions, are at the very core of a project manager’s job.
When project time management fails it can be catastrophic. Perhaps the most famous example in the UK was the rebuilding of Wembley Stadium at the start of this decade. Construction firm Multiplex lost around £148m on the project, which was meant to be delivered in three years but ultimately took almost seven. In the month that Wembley closed for redevelopment, a “worst-case scenario” bill of £660m was announced. The project eventually cost £827m, following years of legal wrangles.
Posted by Gina Edwards on 23.05.2017
So you’ve been business savvy and decided to solve your time management issues and track productivity with a brand spanking new platform. The good news is you have all the data you’ll ever need at the touch of a button. The bad news is you’ve realised that brilliant contract signed a couple of months back is taking up twice as much time as was estimated.
Suddenly that time-tracking offensive doesn’t seem quite so wise. It looked a great idea in theory, but now there is what could be a very uncomfortable call to the client at the top of your to-do list.
First things first: you’ve been smart in choosing to track productivity, whether through a leading platform such as TallyPro or more informal means. Having key data about the business is absolutely vital. Ignoring time management, and the potential for waste, could lead to even more uncomfortable conversations if the business begins to fail and employees’ jobs come under threat.
Posted by Gina Edwards on 09.05.2017
Time is precious in businesses of all sizes. Failure to address wastage leads to companies folding every single day of the week. The addition of time recording software will plug a leak and play a major role in recovery, however management teams must not think that business tools alone can resolve operational inadequacies.
It’s true, the employment of sophisticated time recording software can be a remedy to all kinds of business problems; use it to find the shirkers, expose unfinished tasks and assess the amount of time that is actually being spent on tasks.
But the proverbial ‘can of worms’ applies here. Solve one issue by accurately recording time and you may just create a pallet-load of new problems within the business.
Posted by Kate Fairhurst on 21.04.2017
Business executives are increasingly aware that adopting the right employee time-tracking technology can improve efficiency within a company. However, in a world in which business decision-makers often need to be persuaded by bottom-line figures, what sort of return on investment can be calculated for introducing such a system?
Time is money. A 2013 report by the American Payroll Association (APA) found that some $148bn was lost annually due to timekeeping errors.
Moreover, studies have shown that it can take up to seven minutes to calculate manually a timesheet for a work period, whereas automated employee time tracking reduces the length of time to less than one minute per ‘card’.
As far as TallyPro is concerned, its software eliminates so-called ‘time theft’ by staff – including long lunch breaks or arriving late for work. The APA report estimated that the average daily ‘theft’ was 49 minutes per employee. Therefore, over the course of a year, more than 200 work hours can be lost per employee – more than five weeks of work – all down to inefficiencies that can be extinguished by effective employee time tracking.
Posted by Kate Fairhurst on 10.04.2017
If forcing employees to work longer hours simply leads to disillusionment and stress rather than increased productivity, bosses need to employ a little alchemy to improve time management.
Some workers will be self-aware enough to understand what makes them tick in the office, while others may utilise the small changes we suggested in a recent blog – such as regular exercise and being tidy – to improve their output.
However, many workers are neither proactive or productive. For some it might be that they struggle with pressure, while others might be, well, lazy. Neither of those reasons need to be accepted or indulged, and this is where a competent boss comes in.
Posted by Kate Fairhurst on 23.03.2017
Bosses are always looking for ways to improve their workforce’s output, but there’s nothing more effective than an employee who takes charge of their own time management.
Businesses that want to boost time management may consider the use of time management software as they look to audit how their workers are spending their days and how long tasks are taking to be completed. Whether it’s to measure success or determine flaws, it’s unquestionably helpful to collate data that reveals a true picture.
While business tools, such as TallyPro’s time tracking software, have a role to play in illustrating patterns – whether they be positive or negative – it is for the company itself to work out how they should then act. Should there be a problem, will a boss reach for the benevolent carrot, or do they go straight for the trusty old stick? How can leaders reward those that are found to be most productive? Read More
Posted by Kate Fairhurst on 06.03.2017
Invoicing is a vital part of business, but easy invoicing seems like a myth. If you don’t get paid, you won’t be a success. Spend too long creating or chasing up invoices and you’re wasting valuable time.
The goal must surely to be paid in full and in good time. Further to that, we should be looking to streamline the invoicing procedure, with as little time spent as possible on achieving the maximum result. So how can this be achieved?
While it seems almost inevitable that many invoices will be settled late – the Federation of Small Businesses (FSB) puts the figure at one third among its members – companies cannot simply blame their clients’ sloppiness.
Posted by Kate Fairhurst on 17.02.2017
Productivity levels are a headache for economies as well as companies.
According to the European Central Bank, productivity growth in Europe is below 0.5%, lagging behind the US and other advanced economies and emerging markets.
If output per worker – as well as labour participation and structural unemployment – remain the same, the decline in output per head by 2050 will be 14% in Germany, 16% in Italy and a whopping 22% in Spain.
Distractions are everywhere. A 2016 study by the Pew Research Center in the US found that more than one in five people believe their work suffers due to social media. Some 34% of those who use social media at work do so for a ‘mental break’ from their job.
With productivity on the slide, it is easy to see why companies are increasingly looking at productivity software such as time tracking tools to ensure that work hours are as productive as possible for the business, as well as being as fulfilling as possible for each worker.
As a starting point, TallyPro’s state-of-the-art time tracking software helps to plug ‘time leaks’ by recording and costing time, billings and expenses against projects and clients.
Software that helps companies, organisations and individuals to identify where and how such ‘leaks’ are happening is an essential first step towards improving productivity.
Posted by Kate Fairhurst on 03.02.2017
If you’re worried about wasting valuable hours and minutes in your business, the bad news is that you might be squandering both time and money on many of the time tracking software options on the market.
Those businesses that have signed up to these tools are often exasperated by a failure to monitor effectively their workforce and the tasks they are carrying out. Whether it’s assessing productivity or a requirement to log the number of employee hours spent on a contract, time tracking at work is a necessity for many.
Unfortunately, if the time tracking software selected isn’t right, it can create headaches of its own.
Posted by Kate Fairhurst on 19.01.2017
Late payments are having a devastating effect on small businesses, with 50,000 going bust each year because bills are not settled on.
A recent survey found that a third of payments to small businesses are late, leading to 37 per cent of those companies running into cash flow difficulties and one in five experiencing a slowdown in growth. The report, conducted by the Federation of Small Businesses (FSB), which provides advice and help to hundreds of thousands of firms, found that each late payment is worth an average of £6,100, and almost a third of firms are forced to dip into overdrafts to cover the missing cash.
Poor payment practice is having a toxic effect across the economy, and its effect is wide-ranging. A business that has not been paid does not have access to funds to pay its own suppliers and staff, who in turn then experience struggles of their own. A third of businesses are wasting valuable by spending more than a day each month in chasing late payments. While time tracking software, such as that offered by TallyPro, can record time spent on administration, these are effectively wasted hours.
Posted by nord_admin on 10.01.2017
The working day has changed beyond anyone’s imagination since employees ‘clocked in’ and ‘clocked off’ for the day simply to show their employers that they were putting in the required shift.
Nowadays keeping tabs on tasks during a busy working day can be an awesome challenge for the most organised of individuals and organisations.
For employers and employees alike, though, time tracking software has become an integral tool in ensuring time spent at work is as productive and fulfilling as possible.
The market-leading software that has been developed and refined by TallyPro over the years offers a comprehensive time-recording system, accurately recording and costing time, expenses and billings against clients and projects.
Such software is of vital importance to people who operate in a variety of industries, particularly those that require billing on hourly rates, such as accountants, freelancers and lawyers.
Time tracking is flexible and, crucially, can be tailored and customised for specific individual requirements – whether that is billing someone else or improving internal productivity – all with the aim of saving time, money and effort for all concerned.
With advances in technology, the ability to track time anywhere – from a website browser, smartphone or desktop computer – quickly and easily through a speedy set-up and submission process can reap significant rewards on an individual and organisational basis.