A time sheet template is a piece of paper for recording the number of hours an employee has worked in an organization. It is used by management of an organization to record the time on which employees worked on the project. Basically, this sheet clearly states when an employee enters the premises to start his/her work as well as when he/she goes out. Later on, when finalizing compensation matters for employees, like calculating deductions, total salaries, overtime payments and bonuses, this sheet is used. The purpose of using this sheet is to help employers with determining the efficiency of employees. The regularity or punctuality award is also decided on the basis of this sheet. The time sheet is a necessary component for those people who want to complete assigned tasks on time. Moreover, different companies prefer to use this sheet to keep a check on employees who are working on different projects.
Why a Time Sheet is Required?
A time sheet format is required because it helps you with knowing what you and your employees are working on. It is used as a tracker that tracks the efficiency of your employees by comparing the time they put to work with the output that they produce. You can use a time sheet to find out the employees that aren’t performing well and are expensive to your company. Generally, it includes some basic information, like date, name of department, name of the employee, name of handler, signatures, time of starting and ending in front of each employee’s name. Moreover, it is used to keep accurate records to complete the task at hand before the deadline and maintain the budget. You are also able to determine the skills of your employees in a particular area and use that information to assign them the task they are good at.
Importance of a Time Sheet:
A time sheet may record the facts about the start and end time of tasks. However, the vital reason for the time sheet is to solve the compensation issues. Well, this time sheet may be helpful for having several advantages, like it’ll be used to calculate the total amount of deductions, arrival time of employees, and departure time of employees from work or office. Going further, to check the working efficiency of an employee, it records the amount of time he/she has spent on each job assigned by the company. In addition, a time sheet template will support the employer to determine the efficiency of the employees as well as help the employees to get their total salaries, overtime payments and bonuses with ease.
Templates for Time Sheet:
