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The success of every business rests on the pillars of productivity. And true productivity comes from thinking outside the box.
In recent years, the world of business has undergone rapid developments due to unprecedented achievements in the arena of technology. “Thinking outside the box” has enabled companies to advertise in ways that were simply inconceivable, and penetrate markets they didn’t know existed!
In a similar vein, a rising number of businesses are abandoning tradition, and introducing new and innovative ways of accommodating sudden changes.
One of these changes is the introduction of time tracking software, and the role it plays in boosting efficiency and workforce management in mid-sized companies as well as large multinational corporations.
While time-tracking isn’t considered a significant aspect of productivity for some industries, not having a dependable time management system is tantamount to business sacrilege in others.
Today, we’ll look at 3 major industries that rely on the crutches of efficient employee time tracking:
If you work in the manufacturing industry, you most probably have divisions in different locations. This means adhering to different wage rules, complying with the local, state and federal laws of each geographical region, all the while tracking overtime hours and absenteeism in real time. Distance can make workforce scheduling even more challenging and tedious—which makes time management software a necessity, rather than a choice.
In transportation and logistics, the pressure to work on schedule is even higher. This is because approximately 67% of the total workforce is directly responsible for making timely deliveries and, by extension, boosting revenue.
With efficient time tracking software, businesses in the transportation industry can closely monitor and project data, optimize scheduling and identify timekeeping abuse before it turns into a serious, recurring problem.
Healthcare is one industry where poor time management can make a literal difference between life and death.
Besides the consequences of mismanaged time on patients, it can also have an adverse impact on your financial health. Time theft is a common malpractice in the medical world, and in mid to large sized facilities, with over 100 employees, at least 25 of them generally steal time—making you lose 18 hours’ worth of salary for 25 employees each month!