How Expensive Is Wasted Time?
Time is a priceless gift not only for any human but for every company and work process. Wasted time is inexcusable for a business.
- How to measure a company’s losses when employees waste their working hours?
- How to find out whether they are working or busy with their personal affairs?
- How to solve the issue of wasted time in the company’s workflows?
We live in a fast-pacing digitalized environment and existing technologies can help to address these issues.
Every C-level manager understands that a company loses money if its employees:
- Chat on Facebook;
- Talk with colleagues or family on a phone;
- Have frequent coffee breaks;
- Surf the Internet for shopping or other personal needs and so on
What are the consequences of such a situation being run its own course?
- The first hit will go to the entire business plan. If the top managers didn’t take into consideration destructive and unproductive employees when building the company’s strategy and tactics, this leads to the risk of either not reaching the plan at all or being late with the deadlines.
- The second hit will go to the company’s payroll budget. An employer will have to pay employees for the time they spend on their own objectives, not performing working tasks to gain some profit for the company. High expenses related to unproductive employees’ payrolls can increase business’ financial risks. Just one work-shy team member is able to set such pattern for all his / her co-workers unless this issue is detected at once and managed properly with the help of monitoring and productivity analysis.
- The third hit will go to company owners and investors (or other stakeholders). As said, cadres are all-important. And bad cadres are the benefit for competitors and loss for the business. The logic is quite clear:
Unproductive Team = Wasted Time = Unfulfilled Aims = Expenses Higher than Revenue = Financial Risks and Liabilities Raise = Financial Bankruptcy
So the issue is obviously serious and requires the appropriate solution. To find the way out every company should understand what exactly its employees do while working hours and how productive they are. This information should be analyzed and become the basis for handling the issue if there is any.
WorkTime, the productivity monitoring solution, can respectfully help any company to find out if:
- Employees work or just satisfy personal needs at the workplace;
- Employees perform their tasks while working hours;
- There are payrolls loss due to wasted time;
- Employees idle too much or socializing on Facebook etc.
Just install WorkTime and announce the monitoring started. Basing on our 20+ years experience we know that being monitored (not spied!) any employee performs several times better because he/she acknowledges the responsibility and consequences of own unproductive behavior.
WorkTime provides a company with insights helpful in understanding:
- The effectiveness of everyday workflows;
- Each and every employee productivity level;
- How expensive was wasted time?