Work Hour Tracker
What You Stand To Lose If You Don’t Pay Attention To timing
It is very apparent that business owners takes a lot risks while growing their business from the beginning to full maturity, before it can run by itself. One of the risks they can’t afford is employing the wrong person. There is several definition of what a wrong person is when it comes to businesses. Takes for example the founder of Uber decided to leave the seat as the CEO for a more competent person. Does that mean he isn’t good enough? He created the company! Top companies know the importance of staffing and they try as much as possible not to undermine it. The importance attached to staffing your businesses makes it a fatal mistake to do wrong. When you staff right, the next thing is to determine which amount is right to pay them and this can be done by putting a value tag on their time. When you are sure of what a man’s time is worth,you then know what to pay him. One of the available tools that can help you achieve this is the work hour tracker. When properly filled gives you the exact worth of an employee time.
Effect of Not Using a Time Sheet
Not knowing the Value of your staffs comes with great arm and can cost you your business. We would be elaborating what can happen if you don’t use the work hour tracker with your staff.
This is something small business can’t afford and big businesses try to avoid. As a small business you are in need of cash, so you try to squeeze it out through every possible means so avoiding overpaying is important. Knowing the value of your staff’s time is important for you to avoid this tragedy. And if you are a big company, you can learn from what we find daily on the news with companies laying off their staffs and after this we don’t hear of any plunge in their profit, it only means they were not staffing properly.
- Less execution
It is said that if you pay a man per hours used in carrying out a job, he spreads the work out through the whole period achieving little but if you pay him per execution, he does the job in much more shorter period. Many businesses are having problem just because of this as their salary based staff just seat behind the desk all day without tangible results. But knowing the value of their time would avoid this as they know you would pay them based on the work done avoiding the unproductive periods.
- Fold Up
This isn’t just made up as not staffing properly has cost many companies everything. The fact that overpaying would reduce the profit and doesn’t mean the productivity is also increasing and over staffing, thinking that is the solution to lack of productivity, there is just a lot that can drive the company to the ground if it doesn’t pay attention to its staff time and value. In the world of business this is no longer a new thing and companies are trying all they can to avoid falling into it.