Time Management

Photo courtesy of MashableOpens in new window Time may be considered as a series of “NOWS”. The only time you have control over or when you really have to do anything is “NOW”. Time is something leaders and followers alike have an equal amount of.

Time management has also been defined as follows:

Types of Time

Some authors have distinguished three different types of time:

1. Biological time: This is the time we spend on sleep, physical recreation and food etc.
2. Social time: This is the time we spend on meeting friends, making social calls, talking on the telephone, family occasions, get-togethers, spend on self-development like reading etc.
3. Business time: This is the time spent on meetings, interviews, data entry etc.

Time management involves planning, allocating, setting goals, delegation, analysis of time spent, monitoring, organizing, scheduling, and prioritizing. So, leaders should never “kill time”.

Time management, in reality, is self-management. The leader has to manage the self rather than the time. We get 24 hours of it and that’s all. So we don’t really manage time.

So, in time management, basically, what we need to do as leaders is to take the time we have and do what we need to do. If we do that correctly, then time becomes our friend or a good co-laborer rather than something we fight or someone we run against.

But if we use our time incorrectly, then it becomes something we bear with and kill until the next important project comes. The challenge we may have is to log the time. Once time is logged, it is controlled and we may say that we have managed ourselves well and used our time productively.

Importance of Time Management

1.    Time is limited

No matter how you slice it, there are only 24 hours in a day. That applies to you, and to your coworker who only seems able to do half the amount of work you do. But it also applies to the former coworker who consistently accomplishes more than you, and was promoted as a result. If you want to rise through the ranks, you have to acknowledge the importance of finding a way to manage this limited resource.

2.    Time is a special resource

Time is a special resource that you cannot store or save for later use. Everyone has the exact same amount of time each day. Time not well used cannot be retrieved.

3.    You can accomplish more with less effort

When you learn to take control of your time, you improve your ability to focus. And with increased focus comes enhanced efficiency, because you don’t lose momentum. You’ll start to breeze through tasks more quickly (the workday will also seem to fly by).

4.    Improved decision-making ability

Whether you rely on a time-chunking technique or discover the power of list-making, you’ll soon find that a nice side benefit of good time management skills is the ability to make better decisions.

When you feel pressed for time and have to make a decision, you’re more likely to jump to conclusions without fully considering every option. That leads to poor decision making.

5.    Become more successful in your career

Time management is the key to success. It allows you to take control of your life rather than following the flow of others. As you accomplish more each day, make more sound decisions, and feel more in control, people notice. Leaders in your business will come to you when they need to get things done. And that increased exposure helps put you in line for advancement opportunities.

Always remember that successful time management today can result in greater personal happiness, greater accomplishments at home and at work, increased productivity and a more satisfying future. Finding a time management strategy that works best for you depends on your personality, ability to self-motivate and level of self-discipline. By incorporating some of the ten steps below, you can more effectively manage your time.

1.    Know how you spend your time

Figure out how much time you usually spend on your activities and evaluate the results. Determine which tasks require the most time; determine the time of day when you are most productive; and analyze where most of your time is devoted.

2.    Set priorities

One of the easiest ways to prioritize is to make a “to do” list. Put the most important tasks at the top and tackle them first. Just be careful not to allow the list-making to get out of control and do not keep multiple lists at the same time.

3.    Use a planning tool

Use a personal planning tool to improve your productivity – and keep it with you. Examples of personal planning tools include electronic planners, pocket diaries, calendars, computer programs, notebooks and your smart phone.

4.    Get organized

Disorganization results in poor time management. Implement a system that allows you to handle information effectively. This is not only true for your desk and office bookcase, but also for your computer files and your emails.

5.    Schedule your time appropriately

Plan your most challenging tasks for when you have the most energy and block out time for your high priority activities. However, try to limit scheduled time to 70% of your day, leaving some time for creative activities such as planning, thinking, and reading.

6.    Delegate: get help from others

Identify tasks that others can do and then select the appropriate person to do them. Be specific in defining the work, but allow the person some freedom to personalize the task. Finally, don’t forget to reward the person for a job well done.

7.    Stop procrastinating

Some tasks seem overwhelming, some seem unpleasant. Try breaking down the tasks into smaller segments that require less time commitment and result in realistic deadlines. If you’re having trouble getting started, ask some colleagues for help.

8.    Manage time wasters

Decrease or eliminate time spent on activities imposed by other people (e.g., don’t schedule meetings unless they are necessary and ask employees to make appointments during periods when you have a lot of work to do).

9.    Avoid multi-tasking

Multi-tasking does not actually save time. In fact, the opposite is often true: You lose time when switching from one task to another, resulting in a loss of productivity. Stay focused on your current problem instead of trying to deal with ten problems at once.

10.    Get time for yourself

The care and attention you give yourself is an important investment of time. Scheduling time to relax can help rejuvenate both physically and mentally. To reduce stress, you should reward yourself for a time management success.

To be a great manager, you must have an extensive set of skills – from time management and delegation to communication and motivation. That’s why it is so important to continuously improve your skills. We hope that this course was able to give you a good understanding and complete overview of the most important management skills and that it will help you to succeed today’s business world.