Time tracking is vital for construction companies because their ability to scale up depends on managing time and resources. Unfortunately, many companies overlook the importance of it as they still rely on traditional modes of time management such as sign-up sheets, logbooks, or registers.
However, leveraging technology can significantly assist construction companies in many ways beyond managing worker allocation and resources. It can give an average project duration, provide real-time insights on worker breaks, holidays, or leaves, and enhance productivity.
Table of Contents
3 Advantages of Time Tracking for Construction Companies
Ascertain Accurate Billing Hours
Using traditional time tracking solutions like registers, sign-up sheets, or logbooks is unreliable because the contractors can’t always keep an eye on the workers. Moreover, the contractors handle multiple sites simultaneously. Therefore, they rely on the workers to arrive and spend the allocated working hours during their shifts.
Unfortunately, traditional systems are prone to errors, and workers often forget to check their timings. Therefore, the need for a construction time tracking solution arose, and the best ones included features like contactless biometrics, liveness detection, geolocation, etc., which helped to establish trust and transparency between all stakeholders.
Today, CCTV-based face recognition solutions are in high demand because they achieve all these requirements and even derive video analytics that can enhance the safety and security of the workers and the site.
Also Read | Contactless Attendance System Transforming Global Organizations
They can even alert administrators or contractors about unregistered entries during working hours by sending an alert. On the other hand, the workers can enter the premises, and the CCTV camera will recognize and mark entry & exist timestamps throughout the day.
The accuracy will help determine the billing hours accurately. Moreover, it can integrate with an existing HRMS or payroll software to curate real-time bills and make timely payouts, reducing the workload of the admin, HR, and finance departments.
Enhance Overtime Management
Overtime payouts can significantly hamper the project profits and even spoil associations with a client. Managing overtime is also essential to meet project deadlines within a specified budget, as the chances of higher payouts from a client after an agreement can become challenging.
CCTV-based time and attendance system OR digital time tracking solution can assist construction companies in evaluating the exact overtime hours of the workers and making payouts accordingly. Moreover, the solution will also ascertain the estimated overtime requirement based on the historical data of time taken to achieve different project stages.
If the construction company stakeholders knew that the project wouldn’t be completed within the specified overtime, they would require more workers.
Accurate Quotes and Profitability
Worker time tracking solutions can help to ascertain the types of workers required for the project and the costs associated with them. As a result, the solution can help establish the total workforce cost and time needed for project completion.
Quoting the average project completion time and associated costs will help to give a more accurate quotation to the client. Moreover, it will further assist in determining the profitability after deducting the worker costs and overtime payments.
Once the accurate profitability is curated, the construction company can further determine the requirement of increasing or decreasing costs.
Also Read | Why Organizations Should Use Contactless Attendance System?
Conclusion
Time tracking systems are vital for construction companies for many reasons. Primarily, it can help to determine the exact time spent by a worker at the site. Moreover, the solution will even determine the time taken by a worker to complete various tasks and create a database.
The database will assist in determining the average number of workers required to complete a task and the time difference when more or fewer workers are engaged in the given tasks.
Additionally, digital or CCTV-based attendance system make the journey paperless and error-free, resulting in accurate payouts for the exact working hours and reducing the excessive overtime payments that the company was initially making.
Moreover, it eliminates the risk of proxy or fudged attendance, which often happens with punch cards, logbooks, and registers.
Lastly, CCTV or Contactless biometric attendance solutions can help generate more profits based on the time taken by a worker and the payouts associated with it. Deducting them and the other costs from the total fee will help to ascertain accurate profits.
