Do you suffer from burnout as a manager? If so, you aren’t alone — in fact, 66% of managers experience burnout, 76% feel overwhelmed, and 59% feel overworked. One of the best ways to prevent becoming one of these statistics is to streamline and automate your processes with workflow tools like a time card calculator.
Tracking employee hours and translating them into wages can be a time-consuming job, especially if you have a lot of employees or if your business is seasonal. A time card calculator automates this process, saving you time and energy.
The use of such software can help to prevent burnout in managers, and it can also help to keep your employees happy and productive.
In this article, we’ll be discussing:
- What is a time card calculator?
- The benefits of using a time card calculator
- How to use a time card calculator
- The different types of time card calculators available
- The pros and cons of using a time card calculator
- Finding the right time card calculator for your business
So, let’s get started!
What is a time card calculator?
When it comes to calculating wages, it’s critical that you accurately track the number of hours worked. Otherwise, you risk wrongly paying your employees — and that’s not good for business or your workforce.
Enter, the time card calculator. This useful piece of software makes it easy to accurately track employee hours worked, ensuring everyone is paid what they’re owed. They are essentially tools that help you keep track of employee time, making it easy to calculate wages based on hours worked.
There are many types of time card calculators, from simple online tools to more complex software applications. However, they all complete roughly the same task: help you keep track of employee time and calculate wages based on those hours.
If you’re looking for a way to accurately track employee time and ensure everyone is paid what they’re owed, then a time card calculator is the answer. They’re easy to use, and can help you make sure your business is running smoothly and efficiently.
The benefits of using a time card calculator
As aforementioned, having a tool like this can help to ease your administrative load and reduce the occurrence of burnout. But that’s not all.
There are plenty of other reasons to use a time card calculator, even if you’re already using an electronic time tracking system:
1. They can help to ensure accuracy
When you’re tracking hours worked manually, it’s all too easy to make mistakes — and those mistakes can end up being costly for your business. A time card calculator can help to minimize human error, ensuring that your records are as accurate as possible.
2. They can provide a more complete picture of employee productivity
If you’re only tracking hours worked electronically, you’re likely missing out on some important data points. By using a time card calculator in addition to electronic tracking, you’ll have a more complete picture of employee productivity and how it changes over time.
3. They can be used to verify payroll calculations
When doing your own payroll, using a time card calculator can help to ensure that your calculations are accurate. This can save you time and money in the long run.
4. They can be used to create invoices
Freelancers in particular can benefit from using a time card calculator to create invoices. By having an accurate record of the hours worked, you can be sure that you’re billing your clients for the correct amount of time.
5. They can help to track project progress
There are plenty of project management tools out there, but in some cases, a time card calculator can be of great help. By being able to track the time spent on different tasks, you can get a better understanding of how much progress has been made — and where potential bottlenecks may be.
6. They can help to improve team communication
A team of high-achievers all working on separate tasks can still achieve great things — but only if they’re communicating effectively. By tracking time and uploading it to a common dashboard, team members can easily see which tasks are taking the longest, and where potential conflicts may arise.
7. They can help to identify areas for improvement
It’s always useful to have some data to back up your claims, and time card calculators can provide that. By looking at the time spent on different tasks, you can start to identify areas where you may be able to make improvements, whether it’s by hiring a new contractor who can work more quickly or by streamlining your processes.
How to use a time card calculator
Time card calculators are potentially one of the simplest tools to use in the modern workplace, and yet their value in accurately recording time worked and calculating wages is undeniable. All you need to do is punch in the hours worked for each day and the calculator will do the rest, spitting out a total at the end of the pay period.
However, there are a number of things you should take care of before implementing the system in your workplace:
- First, make sure everyone understands how to use the calculator and is comfortable with it;
- Second, agree on a start and end time for the workday, as this will be used to calculate overtime pay (or avoid it);
- Lastly, keep track of breaks and absences — these need to be factored into the totals as well.
Once you have one in use, it can save both employers and employees considerable time and money.
In some cases, employees may choose to work more than their regular hours in order to earn overtime pay. This is a good way to make some extra money, but it’s important to keep track of the hours worked in case there are any disputes about overtime pay later on.
With this powerful tool, everyone can rest assured that the correct calculations have been made and everyone is paid fairly.
The different types of time card calculators available
Like other workflow tools, this tool come in different shapes and sizes.
The most common type is the electronic or online time card calculator. This kind of calculator is a web-based application that allows employees to track their hours worked online. Typically, this type of calculator includes a timer as well as a reporting feature that allows employers to view and print out employee time cards.
Another type of time card calculator is the desktop application, which is typically used by businesses with a large number of employees. This type of tool is installed on each employee’s computer and allows employees to track their hours worked, as well as submit time card data to their employer.
And lastly, there are the manual time card calculators. This type of calculator is a simple tool that consists of a time card, a pen, and a clock. Employees use this type of tool to track their hours worked by writing the start and end time for each shift on their time card. Then, they use the clock to calculate the total number of hours worked.
In terms of which type is best for your business, it really depends on your needs. If you’re looking for a simple way to track employee hours, then a manual one may be the best option.
However, if you’re looking for a more sophisticated solution that includes online tracking and reporting features, then an electronic or online time card calculator may be a better choice. Software is generally considered more convenient and user-friendly than paper time cards.
The pros and cons of using a time card calculator
Every time you implement a new system within your business, it’s to be expected that there will be a number of pros and cons associated with it. The same is true for this kind of software— they can provide a number of benefits to your business, but they can also create some challenges.
In order to make the most informed decision possible about whether or not using a time card calculator is right for your business, it’s important to be aware of both the pros and cons.
Increased accuracy and accountability: This tool can help to ensure that all hours worked are accurately tracked and accounted for. This can help to improve the accuracy of your records and reduce the chances of any disputes or disagreements about hours worked.
Easier billing and invoicing: Once your hours have been accurately tracked and recorded, the time card calculator can help to generate invoices that are more accurate and easier to understand. This can save you time when creating invoices and make it easier for your customers to understand what they’re being charged for.
Improved productivity: When employees know that their time is being accurately tracked, it can often lead to an increase in productivity. This is because employees are more likely to work efficiently when they know that their time is being monitored.
Increased administrative burden: The use of a time card calculator can create an increased administrative burden for your business. This is because you will need to track and record all hours worked, as well as generate invoices — unless, of course, you invest in a more automated software tool.
Potential for abuse: Although the use of a time card calculator can help to improve accuracy and accountability, it also creates the potential for abuse. Employees may attempt to claim more hours than they have actually worked, or may take longer breaks than they are entitled to.
Requires employee cooperation: In order for a time card calculator to be effective, you need the cooperation of your employees. If they do not accurately track their hours or submit their time cards on time, it can create complications and disrupt the flow of your business.
In general, the cons listed here can be managed with proper communication and training. It’s important to make sure that your employees are aware of the benefits of using one and understand how to use it properly. With a bit of effort, you can help to ensure that the use of a time card calculator is a positive experience for your business.
Finding the right time card calculator for your business
While it’s true that this tool aren’t as high-stakes as other business tools, it’s still important to find the right one for your specific business. Different businesses have different needs, so you will want to find a calculator that can do the things you need it to.
Some factors you might want to consider include:
- The size of your business. Does the tool have the ability to track an unlimited number of employees?
- The type of business. Are you a construction company that needs to track time by job, or are you a law firm that needs to track time by task?
- The features you need. Does the calculator have the ability to calculate overtime, sick time, and vacation time?
- The type of input you need. Some calculators require employees to enter their hours manually, while others can automatically track time worked through an employee’s phone or computer.
Once you’ve determined the factors that are important to you, it will be much easier to find the time card calculator that’s right for your business.
Our recommendation for the best time card calculator
If you are looking for something a little more in depth than your brick and mortar calculator, we recommend our time tracking software, Day.io. Not only can you track time, but you can also manage your projects, create schedules, and collaborate with your team all in one place.
Get all the benefits of a time card calculator, without the hassle of paperwork and tracking time manually. Day.io is an online a software that is easy to use, and makes it simple to keep track of your hours worked each week.
Try Day.io today for free!