When you want to understand an industry or issue, facts are the best place to start.
That’s definitely true when it comes to time-tracking statistics, so we’ve compiled some key ones as we head into 2024.
22 productivity and time tracking statistics to know
1. 69% of employees admit that they don’t track their time accurately.
According to a Forbes online test about time tracking, half of employees also estimate that a quarter of their time at work is wasted.
2. Employees are only productive for 2 hours and 23 minutes each day.
The remainder is spent:
- Checking social media (44 minutes)
- Browsing news (65 minutes)
- Discussing work with coworkers (40 minutes)
- Searching for new jobs (26 minutes)
- Making calls (18 minutes)
- Taking coffee breaks (17 minutes) or snack breaks (8 minutes)
- Instant messaging (14 minutes)
- Making food (7 minutes)
3. Productivity rates plummet to 45% between noon and 3:00pm.
Freelancers’ activity rates go down to 43% between 3:00 and 6:00pm.
4. US workers spend more than 2.5 hours on emails daily.
That amounts to 120 messages per day, and unrecorded emailing time leaks $50,000 per employee annually.
5. Buddy punching costs more than $370 million each year.
More than 75% of companies lose money to buddy punching, which is preventable with safeguards such as biometrics and GPS data.
6. Productivity drops by 40% when an employee attempts to multitask.
Multitasking lowers your comprehension level by 11% and your intelligence by 17%. However, a time tracking system can help employees see where they’re spending their hours and focus on one thing at a time.
7. Multitasking without time tracking decreases productivity by nearly half.
If your staff is going to multitask, make sure they’re logging it with a time tracking system that allows for multiple timers to be used.
8. Disengaged employees cost companies 18% of their salaries.
There’s a clear connection between engagement and employee productivity.
With a time tracking tool like Time Tracker, you can quickly pull an employee report that shows:
- Billable versus non-billable hours
- How much time is spent on specific tasks
- How much PTO employees are taking
- Employee utilization rates
9. Remote workers are 57% more satisfied with their jobs.
Organizations that allow remote work report a 25% decrease in turnover rates. Many companies facilitate remote work by using time tracking software.
10. 700+ hours go unbilled annually in any company.
Studies show that 36% of employees never track time spent sending emails, and 20% never track time spent in meetings.
11. The US economy loses 50 million hours a year to errors in employee timesheets.
That lost productivity adds up to $7.4 billion a day.
12. Time tracking has been shown to reduce productivity leaks by 80%.
It’s one reason the right time tracking software can help you combat time theft, which occurs when workers are paid for time they did not work.
Time theft can take various forms, including buddy punching, taking long breaks, starting late, finishing early, and engaging in personal activities during work hours.
13. 75% of businesses say time theft is a challenge.
One study reveals that US employers lose $11 billion annually in productivity to time theft, and another shows that 4.5 hours per employee per day is lost to it.
Nearly half of American employees openly admit to time theft.
14. In the legal profession, attorneys spend 2/3 of their day on non-billable tasks.
Roughly 31% of an attorney’s day is spent doing billable work, which means 69% of their time is spent on non-billable tasks.
15. 80% of small businesses made adjustments during 2021.
Roughly 75% changed their products or services, and 44% reported these changes as “minor.”
One minor change that had major effects: Making sure solutions like time tracking systems are cloud-based and working efficiently.
16. 73% of businesses are “very satisfied” after automating tools and processes.
91% of organizations use automation technologies, and 51% make extensive use of them.
17. Some companies save $600,000+ in yearly wages simply by automating time tracking.
Getting rid of data entry, spreadsheets and paper timesheets keeps employees accountable while allowing them to easily track and submit time.
18. More than 90% of employees say that their paychecks are delivered on time due to tools including time tracking.
87% are “certain” or “very certain” that their paycheck deductions and net pay are accurate.
This is a good thing because 49% of workers will leave a company after just two issues with their paychecks.
19. Companies that use time tracking software with payroll features are 44% less likely to make errors.
This saves payroll admins, managers, and other employees several hours of administrative work.
20. Time tracking cuts the time it takes to process time cards from 7 minutes/card to 1 minute/card.
This allows administrators to spend more time on high-value tasks.
21. Time Tracker can save 30+ hours in administration and increase revenue by 30% every month.
Use it to easily keep track of employee time and attendance in seconds:
- Clock in/out and take breaks with time cards
- Capture every second worked with timers
- Add time in blocks with weekly timesheets
- Approve employee time entries in two clicks
22. 97% of Time Tracker customers would recommend our time tracking system to others.