Is time management really important?
Some say “no”. They say it hurts productivity and keeps you rigid in your time.
And that is true… if it’s done incorrectly.
However, time management, done well, is very important to your life, to your work, and, if you are an employer, to your employees and workplace.
In this article, we will go over 7 reasons that show the importance of time management.
1. It increases productivity
This, of course, is the main reason most people think of time management. It helps you accomplish more.
However, it not only helps you accomplish more in the sense of getting more done, it helps you get more done of what’s important, and that’s the most important part of time management. It’s pointless to “get a lot done’ of tasks that aren’t really important in the first place.
Not only that, effective time management also means projects and tasks are done on time. They aren’t late or being rushed. They are also less likely to have fewer mistakes, which requires more time to rework.
For a workplace that emphasizes effective time management, you have employees who not only just do more, but they do more of what’s important, which drives profits.
2. It improves decision-making
When you are constantly rushed, stressed, and overwhelmed, that does not lead to effective decision-making.
However, when you know your goals and priorities, are focusing on what’s important, and are planning well, when something comes up, you have a good foundation to make quality decisions.
It helps you, your coworkers, and your employees fight indecisiveness as well. If you know what is important and what is not, you can easily say no to something and yes to another. There’s less debate on what needs to be done.
3. It saves money and increases profit (and your income)
Wasted time equals wasted money. Not only can it cost you in future income, but if your company has employees that manage their time poorly, you are losing money.
Whether it’s wasted time (such as on Facebook), time spent “figuring out what to do”, or time spent on urgent tasks that really aren’t important, each minute is costing your company money.
Also, if you are constantly stressed and overwhelmed, that affects your health negatively, which leads to lower productivity, which, you guessed it, also reduces revenue and future income.
On the other hand, when you and others manage your time well, you increase your revenue over time, and your company increases profits. When you have a whole team of productive people working together accomplishing their most important tasks, you not only save the money that could have been lost, but it can increase revenue and profit.
And if you are an employee who increases company profits, you are often rewarded with greater income.
4. Time can be invested or spent
Some think money is their most valuable resource. It’s not. Time is.
Money can be earned, saved, lost, and made again.
Time can’t. What’s it’s gone, it’s gone. You can’t store it. You can’t save it.
You can either use it wisely and invest it, or you can spend it and waste it. It’s up to you how you use it.
Time management helps you invest your time more wisely, making the most of what you have.
5. Time management sets high standards and helps increase morale (and lower turnover)
Though time management isn’t the only factor, when you have employees who waste time and aren’t productive, it lowers the morale of those who are.
And, sometimes, those people leave.
On the other hand, when you teach and only keep those who manage their time well, then you set a standard of excellence that must be followed. Your high achievers will stay as that is what is expected of everyone.
6. Better health
One of the effects of poor time management is overwhelm and stress. Stress can have a lot of negative effects on the body.
It can raise blood pressure, bring headaches, cause heart problems, lead to depression and anxiety, and more.
It can also lead to poor choices, such as less sleep and poor eating habits.
It also can affect your relationships negatively, not only at work, but at home as well.
Effective time management is the opposite. It can lower stress, improve your health, improve your relationships, and more.
A workplace with poor productivity may also have low morale and issues because of the level of stress caused by the lack of good time management.
7. It opens the doors to increased opportunities
If you and your coworkers and employees are always stressed and overwhelmed, you will miss out on many of the opportunities that may come your way.
And if you are stressed and overwhelmed and do see one, how likely are you going to be able to take that opportunity on?
However, when you are being productive and managing your time well, you have the ability to see the opportunities around you better. And, not only will you be able to see those opportunities, you will have the time to explore them and pursue them.
For yourself, you may be missing out on promotions, raises, and opportunities to learn and grow new skills that make you more productive and more valuable.
As an organization, you may be missing out on deals, partnerships, and solutions that could benefit your business tremendously.
What opportunities could you be missing out on right now? What about your organization?
The importance of time management can not be overstated. Your future success depends on your ability to manage your time well.
Your organization’s success depends on how well your employees manage their time.
If you want to start improving your time management, check out this article.
You can also check out our books on time management here or read a review of other time management books as well.
Now to you: How have you seen effective time management help a person or organization prosper? How have you seen a lack of it hurt them?
2 thoughts on “The Importance of Time Management: 7 Ways It Improves You (and Your Company)”
It’s such a great article. Time is the most precious resource that you have. It is the most constant and available resource to a productive person. Thank you for sharing this article
Thanks Ayan! You are absolutely right – time is definitely our most precious resource.