The need for time management in any organization is not limited to just revenue aspect, it also encompasses the proper functioning of the all the organizational components in an integrated manner. For any business, the timely delivery of product or service is of paramount importance when its projects have so much of stakes running on them. But at the same time, forcing employees to work for ridiculous hours is not going to augur well, either. While it is a reality that today there are numerous types of pressures on organizations as well employees, which make them too much stressed, but such a status quo for a longer period is detrimental for all the stakeholders in equal measures.
Therefore, the clear answer lies in the effective time management needed to be introduced in organizations with a holistic approach. Time management essentially means making necessary changes in ways which one views about spending the time to complete the task. On the other hand, effective time management is all about focusing on tasks that matter most and which ultimately make a difference. The aim of incorporating better time management practices in any company should be achieving lifestyle balances that employees and managers need, along with making them focused, competitive and relaxed. This can be achieved by utilizing skills, tools, and abilities to perform right things at the right time with minimum efforts and sufficient resources.
Impacts of time management on employee performance
The effectiveness of time management can be construed through several parameters and markers. It serves as a motivating element behind employees’ performance, the productivity of the overall workplace, the level of focus of each individual, meeting of deadlines, and above all generation of revenues. The effective time management is realizing the value of time factor for organizational performance vis-à-vis competitors in terms of market share, profits and capital base.
There are some organizations that focus on building high-performance work culture and delivering timely services and products to its clients at all times. Such organizations are said to have to utilize effective time management procedures. As a result, in such organizations, there is renewed rigor, precision and a yearning for continuous performance on the part of all the departments since time is tied to each and every activity.
In order to dispense improved organizational performance, managers and employees need to figure which tasks come under the category of urgent tasks, essential tasks, important tasks, and low priority tasks. This process, therefore, is effectively handled by good time management, which will keep the pace of progress and growth of the organization going even in the long run.
How effective time management transforms workplace culture
The incorporation of proper time management in a workplace has many positive effects such as making staff more focused, encouraging productivity and reducing stress on the job. In terms of transforming the workplace culture, the following results reflect the viability of effective time management:
Successfully setting priorities and goals
Two of the most important consequences of effective time management in a workstation is proper prioritizing and setting up of goals. Both of these factors help companies identify the items, modules or tasks in the overall workload that need to be done according to the order of their importance. They make it easier for managers to keep track of any due dates that are mandated for different projects. As far as employee productivity is concerned, prioritization and goal-setting ensure that work modules are addressed in a timely fashion. Sometimes sub-tasks of a particular project take more time, which extends the integration part to the last minute. As a result, employees throw things together in a hurry and end up with substandard results.
Utility of time management software
If one has to understand the effectiveness of time management in an organization, the empirical records can tell the overall picture in minute detail. This is where time management software and apps become helpful. Ever since businesses have started to incorporate time management tools, many benefits have been seen such as proper allocation of work according to the availability of personnel, proper management of projects, and surety of completion of tasks. It is now easy to track employees, their work status as well as records anywhere anytime. The biggest benefit of using time clock software is employers can now track the in-time and out-time of their employees. It also helps them increase the productivity levels of employees by identifying certain patterns in their attendance that can affect the outcomes.
Improved decision-making capabilities
Since time is limited no matter how one slices it, so managing this most precious but limited resource is very crucial for organizations. This finally necessitates the need for improved and precise decision-making ability on the part of management. There are times when the danger of running out of deadlines looms large. In such pressing moments, managers have to make quick decisions. However, due to poor time management, they are more likely to jump to conclusions without properly considering all the options. An effective time management, therefore, can eliminate this pressure. It allows careful consideration of all the options, makes situation calm, and decisions better.
Apart from proper workflow management, an improved level of communication is the byproduct of effective time management. Communication is very important in a workplace because it increases productivity and efficiency. When employees receive regular feedback and reward based on their performance, they become encouraged and motivated, which means they try to work hard to better their performance. Most importantly, a proper communication reduces misunderstandings because when employees don’t share information correctly and efficiently, the loss of productivity is a very real risk.
Organizational managers and business owners need to realize the importance of time management in this ever-changing business environment. Every individual in an organization should be trained enough to incorporate effective time management practices in order to ensure the overall performance of the business.