Initially, many considered Timesheets on Excel is a boring and useless tool; but they gradually realized its benefits at work. Timesheets in Excel can be used to replace complex timekeeping software, but still provide the equivalent of high accuracy, and many other benefits. Here are a few reasons why you should start using timesheets as soon as possible.
Depending on the needs that use timesheets template variety of layout, presentation. Interested users can refer to some beautiful Excel timesheet templates in the link below.
Download many timesheets templates below:
– Time table Excel File
– Word timesheets
– English timesheets
– Attendance sheet Overtime
– Time table By week
– Time table for Overtime
– Time Attendance Sheet Shift
– Timekeeping Hourly
– Employee timesheets
– Time table of time
Benefits of using timesheets template with Excel
1. Calculate the value of the product
One of the main reasons why a company must track employees’ working hours is to calculate the value of its products or services. Or to put it more accurately, to calculate the time it takes to make a product. From there, along with other materials will create the product cost – the price that customers use the company’s products or services will have to pay.
2. Control of project costs
The time each person spends on work is converted into certain expenses, equivalent to the hourly wage of the worker and the total wage for the business. Project cost will include the cost of purchasing raw materials, anything you buy from the supplier, and labor costs (internal costs).
Internal costs are the most difficult to control, because employees often have to work on many different projects at the same time, and often perform many different jobs, such as training or other administrative and HR jobs. Whether you are working on an internal project or working with another business, you still need to control the cost of that project closely. If in the process of working with another company you do not keep a close eye on labor costs and raw materials purchases, you will not be able to know how and how to profit your project. bankrupt.
If your project is only implemented internally, you will need to know what the actual project cost is. Without a timesheet, you will not be able to know the exact level of spending and where your money was lost during the process.
3. Compare plan and actual implementation
When meticulously documenting the time it takes to perform a task, you can easily compare your action plan and your actual implementation plan. Then you will be able to analyze the differences to find the cause and learn valuable lessons to be able to do better in the upcoming plans.
4. Predict project progress
By real-world experience from the projects you have implemented, you can accurately predict the time required to complete similar projects in the future. Of course, there are many other factors that can affect the construction process (such as workers’ experience, technology, materials, capital, etc.) but what you learn from the project. In advance, it is still necessary to ensure that everything is settled in a timely manner.
5. Calculating inefficient working time
Unproductive working time is the time that you spend on non-economic jobs such as vacations, training, administrative work, etc. However, your goals are not. must be completely cutting down on time to do these things; Instead, you should delve into what is the most essential activity.
For example, when a company discovers that about 50% of the time their project is not producing productivity, they will need to find the cause, fix, and increase the proportion of time spent on These activities will create value. If the time required to complete the internal procedures is too much, you can cut down on cumbersome administrative tasks to reduce pressure on employees and facilitate the completion of the project in the shortest possible time. .
6. Calculating employee productivity
Is the use of timesheets not a matter of controlling or forcing employees to work according to company rules but to calculate their labor productivity? Does your employee have to work up to 80 hours per week? With information from the timesheets, it’s easy to know who is overloaded to provide timely support measures, such as staff rotation or adding new people to the project.
If your employees have to work overtime, this means they still don’t know how to organize, organize their work, or just simply work too much. From there, you can learn the rationale for reassigning work so as to make sure to take advantage of all project resources, and that employees don’t have to overwork.
However, using timesheets to track or control employees will not bring positive results. People who feel like they are under constant supervision will not develop their ability to produce the best results. It looked like they worked harder but actually the results were not as expected. On the other hand, leaving employees free and autonomous at work will help increase job satisfaction and productivity, while reducing pressure significantly.
Fortunately, the purpose of the employee timesheets is not to track or control employees, but to visualize factors such as costs, profits, and the work to be done. Of course, keeping track of employee’s working time is necessary, but this should not be considered the main reason when using timesheets. Creating a comfortable and reliable working environment will be much more effective.