Your Scarcest Resource

Everybody knows: time is money. But not everyone treats time as valuable as money. If associated with the management of capital, especially money, all companies have strict rules and procedures. If time is as valuable as money, why there are only a number companies that have strict rules and procedures for the use of their time? Though it is widely known that answering or making phone calls, meetings and replying to email is the biggest time consumer, but only a handful companies regulate these things.

The fact is, a lot of companies do not have a clear understanding of how the leaders and subordinates spend their time together. Is your company one of them? Most advice about time management focuses on the time management for individuals. Several companies use different approaches. Their leaders treat time as something very precious and rare, and do invest their time carefully. They draw up their budgets like time budgeting finances. The many tools available today (such as MS Outlook), companies can analyze where their employees spend their time. This information can be used for the basis for the company to draw the time budget. No sum of money that can pay for a 25 hour a day or time wasted in a non-productive meetings. To be able to get the best from your employees, treat their time as if it was treasure. Build a discipline to make a time and energy investment budget for big things that can add value to the company.

Source: Harvard Business Review May 2014

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