Productivity and profitability typically go hand in hand. But when it comes to employee time management and job costing, employers often don’t have adequate tracking tools to accurately monitor and report on profitability at the job level. However, this inability to accurately track hours, schedules, departments, job codes and so on has been solved with today’s automated time and labor scheduling software.
The old adage that time is money is quite literal when it comes to employee hours and staying on budget for a bid. Fortunately for organizations who have a need to record job-specific hours and quantities throughout the work day, it’s never been more convenient to have great detail on job costs. With this detail, organizations are empowered to be more competitive in winning bids are more profitable on a per-project and per-employee basis.
Features that Simplify Job Costing with Time Clock Software
If your organization is looking to simplify the administrative aspect of job costing or improving profitability, provided below is a list of five system features that simplify job costing through time and labor automation:
- Clock Prompting – Throughout the work day it’s typical for employees to move between job codes, departments or other labor categories. Every minute of tracking counts. It is this dynamic nature of job-based work that makes accurate tracking so difficult. However, with “clock prompts” employees can conveniently switch between jobs within a few seconds. Clock prompts are questions asked to the employee at the moment of clocking in or out to capture the appropriate data, such as a new labor category or quantity from the job completed.
- Mobile App – For many employers, placing a physical time clock at every location or job site can be a challenge simply due to cost or environmental challenges. However, with a timesheet mobile app, employees can use their smartphone to switch between jobs with even greater convenience. And if location validation is a critical factor, GPS pinpoint verification can satisfy this need by offering a location stamp for each employee punch recorded.
- Pay rate by job – A significant aspect of reducing costs and remaining under budget is having flexibility relative to pay rates. With an automated timesheet solution, employers can pay employees based on the individual employee and the job they are working on at any given moment. With pay rates tied to jobs dynamically and automatically, costs are more accurate and administrative time is reduced significantly generating reports.
- Reporting – Perhaps the most important aspect of cost control is reporting… the ability to view costs as they occur as well as when a job comes to an end. With an automated timesheet and job costing configuration, supervisors and employers gain the ability to build reports by location, department, job code and many other labor types. These costs can be viewed both as they occur and upon completion. Monitoring overtime relative to such jobs is also convenient. This visibility is essential in maximizing both employee profitability as well as productivity.
- Employee Scheduling Software – Finally, the ability to set schedules with budgets in mind is vital, allocating staff members according to cost and skill. Building schedules with an online scheduling software or schedule maker can be completed in a matter of minutes versus hours through convenient drag-and-drop ease of use. With the ability to project labor costs, immediately identify overtime concerns, and reduce overstaffing, employers can minimize waste, in terms of both hours and wages, while maximizing profitability.
If your organization has a need to better track job-based work, improve profitability, or gain better control over labor, contact 941 Timekeeping for more information.