What can your team accomplish in an eight hour day? As an agency owner, this should be at the forefront of your mind. Sure, you have other things to worry about like finding new clients and keeping the ones that you have satisfied. Not to mention the 100 other administrative task there are. So why worry about what your team can get done in an eight hour day?
Well, because your team’s time is NOT free.
Your clients are paying your team for a project that ultimately is based off of some hourly rate for your team. If your team isn’t aware of what they can get done in eight hours, then how can the be effective with their time?
If you haven’t started tracking your time, you’re not alone though. According to Hubspot, only 53% of agencies consistently use time tracking software.
Img src: Hubspot Blog
The Financial Benefits of Time Tracking
Brad Hoover, CEO at Grammarly stated that:
“80 percent of a team member’s most productive work gets done in 20 percent of that person’s total time in the office. Time tracking enables all team members to focus on what matters most and to improve their output.”
Only 1.6 hours a day for true productivity? That isn’t a lot. Imagine if you were able to find when your team is most productive and what they were doing. Imagine if they were productive even 30% of the time they were in the office?
Tracking your time will allow your team to be more effective during the day which leads to completing projects quicker and starting new ones sooner. It will provide more data for processing payroll efficiently, billing and invoicing, and insights in to cost for your services.
Other benefits include:
- Visibility at billable hours to identify top performing and underperforming employees
- Assign supplementary staffing when needed
- Keeps clients hours under control
The Strategic Benefits of Time Tracking
As an agency you are often pitching clients on work or campaigns. Tracking the time that you spent on other campaigns will help with future cost and estimating of the campaigns.
Additionally, tracking time and pairing that with marketing analytics will inform you what efforts were most effective at driving results. This feature is something we created within Unifusion, the ability to tag hours to campaigns for easy analysis and client reporting.
You are able to show more of your team’s value by doing this and including this in your reports.
Tracking your time also allows your team to project start and end dates for tasks or projects providing more accurate estimated delivery dates. This helps when taking on new clients, providing them with a clear expectation of when the project will start and if you are able to meet their deadlines.
Do you track your time? What successes have you seen with time tracking?