Importance Of Time Management | 4 mins read

8 Ways Time Management Matters in Business

8 ways time management matters in business
Lauren Christiansen

By Lauren Christiansen

If time wasn't valuable, humans would have never created the calendar. Managing time effectively is the only way for people to appreciate its value. Good time managers are confident and organized individuals who understand that valuing time will help them achieve their goals.

Time management is particularly important in the workplace because companies are required to meet deadlines to maintain profitability and gain a competitive edge. To optimize workplace morale and maximize productivity, employees must use effective time management skills.

Read ahead to understand the value that time management has in the workplace -

  • The average executive wastes 8 hours per year looking for missing paperwork or computer files
  • Utilizing the correct organizational tools can optimize efficiency by 38%
  • Disruption and disorganization causes an organization to lose approximately 1 hour per day.

8 Important Reasons for Time Management

In a competitive market, companies must do everything possible to maximize efficiency. Most workers are skilled and competent enough to perform their jobs, but some cannot seem to meet critical requirements.

Poor time management and disorganization are the contributing factors to inefficiency. If businesses prioritize teaching time management skills, employees will be the best version of themselves. Here are the top 8 important reasons for time management in the workplace

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1. There are Only So Many Hours in the Day

Every worker has approximately 8 hours to complete the required tasks for that day. If workers continuously fail to meet their objectives, the entire organization suffers. With limited resources and time, employees must find the best way to maximize their time.

Employees who can accomplish more tasks than others are not necessarily better at their jobs but are better at scheduling and mapping out their time.

2. Accomplish More with Less Work

Managing time properly helps to improve work quality. It's easier to focus on the task at hand when there aren't late deadlines or other obligations.

Because work quality improves, employees no longer have to redo work and risk conflicting with management. The employee builds trust with superiors and is more prone to advance in his/her career by accomplishing more work in less time.

3. Optimize Decision-Making

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Generating to-do lists or using other time management techniques can help to optimize decision-making. When under pressure, the worker can fully consider each requirement and option before making a rash decision.

Eliminating the stress that is a result of poor time management allows workers to focus on what is important, rather than the list of incomplete tasks. It lets everyone feel in control of their work, which helps to improve decision-making and problem-solving.

Online employee scheduling software that makes shift planning effortless.
Try it free for 14 days.

4. Advance in the Workplace

Effective time managers tend to see a greater number of career opportunities.

It assists in earning the respect of superiors, who view those who manage time effectively as reliable, confident, and mature. Managers will trust them with more responsibilities and be more likely to offer a promotion or bonus.

Furthermore, organized individuals have the time to focus on other goals, such as learning a new skill, getting a head start on a project, or establishing a relationship with a superior.

5. Decrease Anxiety

With over 20 million Americans suffering from an anxiety disorder, stress management in the workplace is now critical. Anxiety is a result of feeling overwhelmed and out of control, which are consequences of poor time management.

When workers perform one task at a time in a calm manner, they improve their quality and quantity of outcome. This eliminates any anxiety the worker may have about his/her performance and helps establish trust with the leadership team.

6. Learn New Skills

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Effective time managers can use their free time to learn a whole array of new skills that make them more valuable to their employers.

Employees can take on new responsibilities, complete other requirements, or learn about a new function of the company. Good time management also provides the space to improve a personal weakness and learn from mistakes.

7. Use Free Time

Taking a break is critical to maintaining peace of mind and maximum efficiency. When individuals are upset and overwhelmed, they have less time to relax and recharge. They always have to play catch up and may be concerned with all of the requirements ahead of them.

Poor time management leads to burnout, decreased morale, and a higher turnover rate. Generating a greater work-life balance by taking advantage of breaks and personal time is critical to being effective in the workplace.

8. Instill Self-Discipline

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Effective time managers act rather than procrastinate. They enhance their self-discipline by forcing themselves to do the tasks they don't want to do. They know that completing one part of a project is better than not finishing any of it.

Time management helps individuals build self-control and self-discipline, which is a valuable skill to have in the workplace. Managers notice and promote individuals with these qualities because they can help the business meet its goals.

  • Perceived or actual distraction will undermine one's self-control
  • Exerting self-control in one area will result in greater self-control in other areas
  • Suppressing feelings or anger will result in decreased self-discipline.

Key Takeaways

In conclusion, here are the key takeaways to remember about time management matters in business

  • It's important to take advantage of the available time in one day to complete as many tasks as possible. Effective time management also allows workers to accomplish more with less work.
  • Decision-making and problem-solving improve when individuals employ good time management skills. Time managers also tend to advance more in their careers by gaining the respect of management.
  • Effective time management results in decreased anxiety and a better quality of the outcome. It also helps individuals learn new skills that can help them in their careers.
  • When employees manage their time well, they can take much-needed breaks to relax and recharge. They also instill self-discipline that builds confidence and provides career advancement opportunities.

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