Time management is commonly defined as the effort exerted by individuals to make better use of their time. It encompasses all systems and principles that people often use when making conscious decisions about what they do to occupy their time. Common time management strategies require that individuals set goals that they want to achieve within a given time period. Once these goals are identified, they are then categorized or broken down into action plans, projects, or task lists. The Pareto Principle or the 80:20 rule is often taken into account when prioritizing tasks. According to this principle, typically 80% of unfocused effort will generate only 20% of results. Accordingly, 80% of results can be attributed to only 20% of effort. By applying this principle to good use, an individual or a business organization will be able to concentrate more of their time, effort, energy, and other resources on tasks that will really pay off and contribute to organizational success.

Time management would also require individuals and business organizations to prioritize their concerns and the tasks that come with these. A task list is often made to record all the chores or steps that need to be completed in order to accomplish something. This list will serve as an inventory tool and a supplement to one’s memory. Several methods are used when prioritizing tasks. An example of these methods is the ABC prioritization technique, introduced by Alan Lakein. For this system, items that belong to the “A” category are considered very important and very urgent. “B” tasks are the next most important and those categorized under “C”, on the other hand, are viewed to be the least important.

An integral part of time management is to be able to identify and overcome certain obstacles that may impede an individual or a business organization to be more efficient and effective with his time. A few examples of these obstacles are over-scheduling, distractibility, fear of failure, procrastination, perfectionism, and depression.

Time management skills will increase the efficiency and improve the overall performance of employees. This is particularly relevant to any business organization that seeks to increase its profitability through productivity. Moreover, the application of good time management skills in the workplace will also serve as an indicator that there is zero waste or inefficiency in the function of internal business processes, as unproductive time means waste of money.

To measure and evaluate time management skills, certain time metrics may be identified. These metrics should be relevant to the nature of the business organization as well as its goals. Metrics for time management may also be integrated into the overall performance of employees for emphasis. These metrics will be listed in a time scorecard, a tool that can be used to assess employee performance.

If you are interested in time scorecard, check this web-site to learn more about time dashboard.

Metrics are generally considered to be most powerful and effective when they are used to measure desired business results. Management of organizations that are metrics-driven usually applies metrics in every functional unit — from product development to marketing to sales and customer service. Recently, many business organizations have already seen the wisdom behind using metrics to assess employee performance and productivity.

As many textbooks and management experts contend, the workforce of a company is its most valuable asset. This is because the success or failure of a company hinges on the amount of effort that employees exert as they perform the tasks expected of them. So, when employees are performing below standards, the company is not able to efficiently utilize its resources. This translates to waste, and as we all know, waste decreases profitability.

For this reason, many HR practitioners see the need to inculcate upon their employees good time management skills. When employees are able to effectively manage their time, they not only accomplish everything they need to do, but they will also cultivate a positive outlook of their jobs. What is even better is that good time management is also a solution to the problem of stress and burnout. In fact, time management and stress management are often addressed together because of their interrelatedness.

Obviously, time management is a skill that positively affects employee productivity. Good employee performance is often viewed as a manifestation of an employee’s effectiveness in managing his or her time at work. To measure this aspect of performance, many companies make use of time-driven metrics. Naturally, these metrics would greatly depend on the nature and focus of the company’s operation. In call centers, for example, some of their most critical metrics are average handle time, average hold time, arrival rate, and after call time. On the other hand, relevant metrics of time for sales and distribution firms include sales generated per hour, or sales contracts closed in a week.

Nevertheless, an important skill that employees should learn, regardless of the type and nature of the organization they belong to, is the skill of budgeting time. To do this, they should first define basic categories of time utilization according to the tasks they have to perform. Once these are defined, they can now decide how much of their time they will allocate for each task. By using this method, they will concentrate much of their efforts and resources on things that really matter. While time management is not a skill that employees would be able to learn and practice overnight, the regular use of time management tools will help accelerate this. Lastly, the integration of time metrics in employee performance evaluation will also reinforce the importance of acquiring this specific skill.

–

If you are interested in time metrics, check this web-site to learn more about time scorecard.