Time tracking tags allow team leads and freelancers to improve project and time management skills.
Why Are Time Tracking Tags Used?
Time tracking tags can be used to provide more detailed information on individual time logs. This allows project managers or freelancers to interpret time log data more efficiently.
The Benefits of Using Time Tracking Tags
Time-tracking tags can be of great help to teams, team leads, and freelancers. These are some of the major advantages:
Differentiating Between Billable and Non-Billable Hours
When working on a project, there are certain tasks and/or sub-tasks that clients don’t usually pay for or that should not be included in client invoices, such as:
- Team meetings
- Training (of individuals or entire teams)
These non-billable tasks all take place during work hours and benefit the project, but since they’re not directly related to/involve the clients, they are tracked as non-billable hours.
Time-tracking tags are often used to differentiate between internal and client meetings.
Increasing Employee Productivity
By adding specific time tracking tags to time logs, both project managers and freelancers get a more detailed insight into their work time. With this insight, team leads can easily determine if certain tasks or sub-tasks require additional resources or not.
If a team member is struggling with a specific sub-task but excels at another, instead of removing them from the project, team leads can assign someone else to that sub-task, someone who preferably excels at this particular part of the project, thus improving the team's overall productivity.
For freelancers, it’s much the same. They can use time-tracking tags to identify project tasks they’re less good at or tasks that take longer to finish. This information can help them focus on improving their skills or outsourcing those tasks to someone else.
More Flexibility for Clients
Time tracking tags not only provide additional data to both freelancers and managers, but they are also a good source of information for clients as well.
If the team is struggling with a certain part of the project, clients can use the data from the time-tracking tags and decide whether or not they want the team to continue working on those tasks or look for possible ways to assist them. This gives clients more flexibility, as they can do their hiring not only on a project but also on a specific task basis.
For example, if a project consists of five tasks, and the company hired by the client is excelling at four but struggling with or underachieving at the fifth one, clients can outsource or find someone else to perform this last task, instead of looking for other companies to take over the entire project.
More Accurate Budgeting
Creating time tags allows managers or team leads further insight into budget consumption. By knowing how much time team members spend on individual tasks and/or sub-tasks, managers can ensure the allocated resources, both human and material, are spent adequately and for the benefit of the project. This can help teams stick within the allocated budget and allows for more accurate budget management.