Annual Recap: The 2018 Hubstaff Year-End Report Has Arrived

Annual Recap: The 2018 Hubstaff Year-End Report Has Arrived

Hubstaff's 2018 Year in Review: A Comprehensive Look at Business Achievements and Growth

Hubstaff, a leading time tracking and productivity software, has released its 2018 Year in Review, providing a detailed account of the company's key achievements, performance metrics, and future goals. This report offers valuable insights for businesses seeking to optimise their workforce and overall performance.

Gathering the Data

To create a Year in Review template using Hubstaff data and other business metrics, follow these steps:

1. Choose or customize a template: Start with a customizable Annual Business Review template, which typically includes sections like Key Achievements, Financial Performance, Project Highlights, Workforce Productivity, Challenges, and Future Objectives.
2. Integrate Hubstaff data: Hubstaff provides detailed time tracking and productivity metrics. Extract relevant data such as total hours logged by employees or teams, breakdown of time spent on projects or clients, productivity scores or activity rates, and billable versus non-billable hours. Consider visualizing this data with charts or graphs to illustrate workforce efficiency and resource allocation over the year.
3. Add other business metrics: Incorporate financial data (revenue, profit, expenses), sales performance, customer growth, and any KPIs relevant to your business goals. These metrics complement Hubstaff data by linking time management and productivity to overall business outcomes.
4. Summarize insights and trends: Analyse the data to highlight accomplishments, such as increased productivity or successful projects. Identify areas needing improvement, such as resource bottlenecks or declining engagement.
5. Set future goals: Based on the review, outline objectives for the coming year related to team performance, financial targets, or strategic initiatives.

Looking Inward

In addition to workforce productivity, businesses should consider company culture and growth, such as the number of people added to the team and the number of Slack messages or video calls the team had. Hubstaff's team grew to 43 members in 11 time zones and 14 different countries, and the team sent 215,470 Slack messages in 2018.

Liven it Up

To make the Year in Review more engaging, businesses should highlight what makes their company unique. For example, Hubstaff's team saved a total of 387 days by not commuting to an office, and the average U.S. commute time is 26 minutes. Hubstaff also hosted one annual retreat, with 22 team members attending.

Results and Growth

Hubstaff responded to 77,416 support tickets in 2018, with overwhelmingly positive feedback. The user churn rate for Hubstaff in 2018 was 6.1%, with the highest being 6.8% and the lowest being 5.4%. Hubstaff's 2018 Year in Review shows customer growth of 49%, with 7,509 customers signing up in the past year. Hubstaff Talent, their free talent and job posting platform, had 130% growth in jobs posted in the past year.

Financial Performance

Hubstaff's net revenue growth was 77% in 2018, and the average revenue per user for Hubstaff increased by 7.7%. The Monthly Recurring Revenue (MRR) increased by 60.4% in 2018, and the lifetime value (LTV) of a Hubstaff user reached its highest in June 2018, at $814.

Future Improvements

Hubstaff plans to add more functionality to their mobile app in 2019, including timesheets, schedules, and reports for field services teams, geofenced time tracking, and the ability to create tasks in mobile. The company also plans to improve integrations, release Hubstaff Tasks, add better reports, and make various improvements for customers in 2019.

Conclusion

By combining Hubstaff’s labor data with broader business metrics in a structured Year in Review template, businesses can create a professional, data-driven report that communicates past performance and guides future strategies effectively. Subscribe to the Hubstaff blog for more posts like this.

1. To optimize time tracking and productivity within personal-finance or business endeavors, consider utilizing Hubstaff tasks, a valuable feature of Hubstaff's productivity software.
2. In the context of education-and-self-development, studying technology trends can help you understand how platforms like Hubstaff contribute to workforce productivity and business growth.
3. For investors interested in understanding the financial health of organizations that utilize time tracking software, monitoring the growth and performance metrics of companies such as Hubstaff can offer insightful insights.
4. Incorporating Hubstaff data into your lifestyle habits can help you manage your personal time more effectively, promoting productivity and overall work-life balance.
5. As a part of their plans for future expansions, Hubstaff has emphasized the importance of investing in technology to improve the mobility and functionality of their app, benefiting businesses across various sectors.

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