What We Learned from Processing Over 3 Billion Dollars in Billable Hours
Last year, ClickTime customers billed more than three billion dollars. That's the aggregate work of thousands of consultants, strategists, marketers, and accountants in more than 55 countries around the world. There's an incredible wealth of data (pun intended) within ClickTime, and we wanted to share some of the trends and insights that were surfaced in 2015.
- On average, for-profit employees work longer days than their non-profit counterparts, but it's employees in education who work the most!
- 7.47 hours = non-profit average hours per weekday
- 7.87 hours = for-profit average hours per weekday
- 8.12 hours = education average hours per weekday
- The average billing rate is just shy of $100/hour.
- Employees tend to bill for the same types of tasks again and again.
- 87% of time entries are for a task that was recorded within in the past two weeks
- Nearly half (48%) of time entries are for the same task that was entered the day before
- Only 8% of time entries are for a unique task that had not occurred in the past 90 days
- On average, employees record their hours three times a day.
- Only 1 in 20 timesheets get rejected by an approver.
- 88% of the time, an employee has five or fewer time entries per day.
- Only 3.4% of the time employees enter 10 or more time entries per day.
- Just 9% of time entries have specific start and end times, and only 44% contain comments.
So, why does this matter? How important is it to know how often someone enters time or rejects an employee's timesheet? What can be learned from analyzing the tasks that are repeated frequently versus those that are rarely performed? This sort of data allows us to better understand how people enter and report on employee time. And it enables us to design more effective ways to budget and simpler tools to ensure compliance.
We know that time tracking is not exciting. Some might even say it's boring. But it's as boring as it is important. Billable time is the lifeblood of millions of businesses, and it needs to be perfect.
We're working on it.
