Making New Year’s Resolutions for Your Business?

New Year's Resolution

The end of every year brings forth the usual chorus of New Year’s resolutions. Many people resolve to start exercising, stop smoking, save money or spend more quality time with their loved ones. Some resolutions stick, while others are deemed to be too difficult to tackle, and are often forgotten—until the next year.

Companies and other organizations, however, don’t make New Year’s resolutions. They must develop detailed business plans that lay out a roadmap for initiatives to be taken, campaigns to be started, targets to be achieved and decisions to be taken.

Planning for Growth in the New Year

Forward-looking managers know that realistic and attainable business goals need to be established and follow internal processes that are well-planned and effective in achieving the tasks demanded of them.

In establishing these goals, some key questions that should be asked like: Is everyone on the same page when it comes to business plans? Are the goals clearly defined and reasonable enough to stand a chance of being achieved? Are there any obstacles that stand in the way, or legal and regulatory hurdles that need to be overcome? Have critical business requirements been adequately anticipated and budgeted for?

As the above questions show, business planning can easily become a complex exercise, with various departments within a company vying for financial resources. Successful companies are different because their managers have thought long and hard about putting internal systems in place that promote productivity while respecting the contributions and abilities of every employee. Systems such as time and attendance software may seem relatively mundane when seen in the context of planning for growth, but these are precisely the sort of tools that empower management by helping them plan staffing requirements, while providing them with valuable insights about their workforce.

A Business Resolution That’s Easy To Keep

Start with the fundamentals—such as time and attendance tracking. Few solutions can match the returns provided by a well-designed and intuitive time tracking software system. It takes guesswork out the picture and allows employees and managers alike to stay informed about hours worked, days taken off, and even overtime clocked. For project-related work, this system enforces fairness by promoting equitable distribution of work, and provides valuable data into how many work hours were devoted to a particular project, which helps in estimating future staffing requirements and time billing related costs. What’s more, compliance issues can be kept at bay and legal complications can be easily avoided with adoption of a time and attendance tracking solution.

With hassle-free cloud-based solutions such as Replicon’s TimeAttend, companies can quickly experience a series of cascading positive effects, while increasing overall efficiency and ROI. Few solutions can match the ease of adoption and provide as much benefit as one that effectively automates what used to be an elaborate administrative chore. In past years, many businesses have made this resolution and haven’t looked back.

ABOUT THE AUTHOR
Replicon
Replicon provides award-winning products that make it easy to manage your workforce. With complete solution sets for client billing, project costing, and time and attendance management, Replicon enables the capture, administration, and optimization of your most underutilized and important asset: time.
Get started today.
Set up a free trial based on your business needs. Start Free Trial

Calculating the ROI of Your Projects with Time Tracking

Before initiating a project, professional services firms want to know how much profit and revenue they can generate for the company. Return on Investment (ROI) analysis helps firms to evaluate…Read More

Humanizing the Time Tracking Tool

Benjamin Franklin once said, ‘Time is money’ and nowhere is truer than in business. Time is a strategic asset that is extremely limited. Businesses that use their limited time productively…Read More

How Time Tracking Improves Bottom Line Results

Every enterprise is looking for ways to improve its bottom line and gain profit in a given time. From hiring the right talent to training their existing employees, organizations spend…Read More

Demystifying the millennial workforce: 5 tips from Trunk Club’s Andrew Anderson Devine

Time magazine labels the millennial generation the “most threatening and exciting generation,” infamous for “narcissism [and] its effect: entitlement.” In the workplace, the perception of the millennial workforce is no…Read More

Time and Attendance Orientation Guide

In a growing business, the day will eventually come when managing time and attendance on paper becomes both inefficient and risky, especially when trying to balance things like overtime, paid…Read More

Using shared services? These five technologies are a must

As organizations continue to scrutinize operating costs and look for areas to drive efficiencies, shared services centers (SSCs) are a no-brainer. The concept of a multi-function SSC has been around…Read More
  • Polaris
  • Time & Project Insights
  • Time & Projects Solutions
  • Replicon Products
  • Replicon Users
  • Cloud
  • Corporate
  • Professional Services Management
  • Shared Services Management
  • Time and Attendance Management
  • Customer Feature
  • Time Intelligence
  • Industry News
  • Global Compliance Updates
  • Others