Time Tracking - a waste of time

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Some companies make it a point to track their employees time spent in office. And something new I learnt is capitalizable vs non-capitalizable time.

Time, especially knowledge worker's time isn't that easy to just track in some excel sheet and decide whether they were productive or not.

I can spend 3 hours thinking about a problem and end up writing a 10 minute piece of code to solve it. Or I can write thousands of lines of code for hours which can end up not working at all.

Using metrics like time, KLoC, number of commits or bugs, etc., are just plain stupid.