Unfortunately, many companies have to sometimes cut costs. When managers are trying to find ways to save money, they don't care about time tracking software. Who needs additional expenses? However, this decision leads to losses in itself.
Inappropriate browsing = Unproductive hours
Passive losses.You suffer from them every day without even knowing. When your employees are looking at new photos on Facebook once again, you suffer from losses. How?
Researches show that every employee who has free access to Internet at work, at least once a day uses it for personal needs. And it takes from 30 minutes up to 3 hours a day. Your employees read news, check email, go shopping on online stores, even look for a new job. As a result, the performance of employees decreases and so does the overall productivity of the company. As a consequence the company suffers from losses.
If the main source of your expenses is wages, and the main source of income – imagine how much you lose.
However, no need to imagine. Let's do some simple maths.
Assuming that there are 100 employees in your company and they receive on average $3,000 per month. Their workday includes:
8 hours x 22 days a month = 176 hours a month
This means that per hour they earn:
$3,000/176 hours = $17
According to the researchers, about 25% of the working day employees spent on personal browsing.
25% of 176 hours is 44 hours a month or $748
So you're paying $748 per month to your employee for liking photos on Facebook or purchasing “IKEA” furniture for a new apartment.
And if your company has 100 employees.
Monthly you lose – $14,800
Yearly – $897,600
These are the consequences of not using a time tracking software.
Inefficient payment system: Freelancers
When a company often uses the services of freelancers – it is difficult to monitor the performance of tasks and evaluate the outcome. Have you ever felt like you pay freelancers for the time that was not not spent on the job?
One of our clients was concerned about it. And that’s what he said: “I have decided to use Yaware.TimeTracker because I had to know the exact amount of time spent on my project in order to pay properly.
Now I'm saving about $500 per month on every programmer due to an hourly wage. I know how much time an employee actually spends working on my project and pay according to the hours worked.”.
Do you want to save money? Implement time tracking software!
In order to stop suffering from losses, you should use time tracking software. You will start to save money and boost employee productivity right away.
For example, Yaware.TimeTraсker costs just $8 per user a month. There is a 25% discount if you order 100 licences for one year. With the discount you will have to pay:
800х12- 25% = $7,200 per year
This represents only 1.2% of losses you suffer from because of unproductive time at the office.