Building trust in the workplace is critical for business owners — not only for morale, but also for the bottom line.
Studies have shown that people who trust each other at work:
- Take fewer days off for illness
- Are less stressed, more satisfied and more engaged with their jobs, and
- Make more money than people who don’t.
In fact, most CEOs believe a lack of trust in the workplace is a fundamental threat to their business, so building trust in the workplace is time well spent.
Trust & Time Tracking
But what does that mean when it comes to time tracking? Does asking employees to document how and where they’re spending their time create a negative environment? In reality, the opposite is usually true. Here’s what you need to know about time tracking and trust in the workplace.
1. People crave control
If you could only have one perk in your workplace, which would you choose: more flexibility or more money? A 2014 study asked that question, and 64% of employees said they’d choose added flexibility over a 10% raise. That speaks to how important work-life balance has become to Americans, especially in times where flexibility has become more of a necessity than a bonus.
Time Tracker helps by allowing employees to:
- Shift work schedules to accommodate doctor appointments, errands or emergencies without losing hours
- Take breaks when they need to without worrying they’ll appear unresponsive, and
- See how many hours they’ve clocked for a specific work period so they — and their manager — know exactly where they stand.
That gives employees an increased sense of control, but it also allows managers to track employee hours remotely, avoid unnecessary overtime and approve payments swiftly.
2. Tension is toxic
If you’ve ever worked in a low-trust environment, you know how draining it can be. If the boss doesn’t believe an employee is clocking the hours they’re reporting, or if employees suspect the C-suite is taking extra-long lunch breaks while everyone else is on the clock, tension builds. As a result, morale and productivity suffer.
But if everyone is required to clock in and out — even remotely, even the leaders — it takes mistrust out of the equation. Everyone’s on the same team, playing by the same rules, and that’s crucial to building trust in the workplace. In fact, time tracking has been shown to reduce productivity leaks by 80%, which means everyone works better when we all know the rules.
Time Tracker helps by:
- Standardizing the way everyone at a company tracks time
- Streamlining paid and unpaid time-off requests, which can all be done online, and
- Allowing managers to edit or approve time for one or all employees in seconds, which means people get paid faster.
3. Transparency boosts your bottom line
If no one at your company is tracking time spent on tasks, projects or clients, how do you know where you stand financially? How accurate are your projections? Are you charging enough for an employee’s time to cover their benefits? When those questions are hanging over your head as a manager, it’s hard to cultivate a culture of appreciation and trust in the workplace.
Time Tracker helps by giving you the tools to determine:
- How much revenue an employee is bringing in versus how much they’re costing (realization reports)
- Whether you’re charging enough and preventing scope creep for a particular client (profitability reports), and
- If you’re paying too much for overtime when you should be staffing up (labor cost report).
Those tools not only allow you to make the best business decisions, but also to show your employees why you’re making changes, and to guard against unnecessary overtime, which protects an employee’s work-life balance.
Try Time Tracker
Ready to see how we can help you start building trust in the workplace today? Try our free,14-day trial.