Corporate time management
What is corporate time management When time management is done right The aftermath of neglecting time management methods 4 time management do’s and don'tsTop 9 corporate time management techniques that work
1. The Eisenhower matrix (The 4D’s) technique 2. Timeboxing technique by Elon Musk 3. Automated productivity management technique 4. The Pomodoro technique 5. The SMART technique 6. The Kanban technique 7. The ALPEN method 8. The Pareto principle 9. Eat that frog technique Bonus! Time management from famous successful peopleCorporate time management
What is corporate time management?
Corporate time management refers to the process of managing and organizing time spent on activities in a corporate structure. Unquestionably, mastering time management methods is important in any field. Overall, it enables professionals to utilize their on-duty hours more efficiently, allowing them to work towards their business goals.A unit that utilizes effective corporate time management techniques at work achieves better results with less effort. As a result, productivity and performance improve, enabling the business to reach its objectives in good time.Corporate time management is the process of managing and organizing time spent on a corporate structure.
When time management is done right
Corporate time management techniques are essential in any industry. They allow the workforce to be more productive while also saving time and money.
The aftermath of neglecting time management methods
According to time management statistics (2021), only one in every five people (18%) is equipped with proper time management tools and techniques, while the other 82% do not appreciate time management techniques much. Low productivity, financial losses, and a slew of other issues are frequently the result of poor corporate time management. If businesses continue to ignore instilling time management techniques at work, they might inevitably face the following issues:Poor corporate time management might lead to low productivity, financial losses, and a slew of other issues.
4 time management do’s and don’ts
1. Planning
Do: It is necessary to plan your day, from tasks to deadlines. When you plan your daily activities, you can focus on and achieve your goals. Moreover, sticking to tested time management methods will fuel future decision-making, all while minimizing the level of chaos arising from unanticipated events. Don’t: Never skip this step as this might result in failed projects and other issues. Improper or no planning allows for a planning fallacy, in which you underestimate the time needed to complete a task or project effectively. Furthermore, when projects lack enough preparation, workers spend time that might have been spent finishing the task/project finding out how to address the problem. Without careful planning, the workday will certainly be stress-filled.2. Setting priorities
Do: Set priorities that allow the team to stay focused on achieving the most important goals first and taking the necessary steps to ensure they do. Setting priorities will help them avoid becoming overwhelmed if they have several goals to accomplish. Don’t: When setting priorities, don’t forget to differentiate between what is important and what is urgent. One of the main reasons businesses don’t prioritize properly is a lack of clarity in distinguishing between urgency and importance, which leads to choosing the wrong priorities. This can have a long-term impact on overall productivity and output.3. Setting deadlines
Do: Establish realistic deadlines to promote a smooth flow of work. Deadlines define what the team is anticipated to produce and when it is expected to do it. This means they can manage the work process adequately. Deadlines allow employees to work together to achieve a common goal and keep projects on track. Don’t: When deadlines are not met or set unrealistically, it can negatively impact performance and business reputation, especially if it occurs more than once. For example, when teams try to complete long-term, large-scale projects that could take a month in a matter of days, they become stressed and unable to cope with the enormity of the “problem.” The perfectionist’s paralysis and fear take control, and their subconscious mind postpones such activities. Employees eventually get distracted with other duties, and the "complicated" jobs go unsolved.4. Applying time management tools
Do: Choose time management systems that are tailored to your specific business requirements. A good example of a time management tool would be time and productivity tracking software. This technology enables accurate time tracking, streamlines the workflow, boosts productivity, and much more. Don’t: When businesses don't utilize time management tools, it won't be easy to properly estimate how employees spend their time or how productive they are.Top 9 corporate time management techniques that work
The following are the top workforce management techniques that managers and teams should incorporate into their work processes:1. The Eisenhower matrix (The 4D’s) technique
A time management technique in which tasks are prioritized is known as the Eisenhower matrix named after its inventor, Dwight David Eisenhower, the 34th President of the United States of America. Prior to serving in the Oval Office, Eisenhower made a prominent military career, and amalgamated experience into one of the most effective time management techniques. This time technique registers and rigorously categorizes to-do items in the spirit of the inventor’s worldly wisdom, ''what is important is seldom urgent, and what is urgent is seldom important."What sets this strategy apart from other techniques for effective time management is its facilitation in distinguishing between urgent and important tasks and non-urgent and unimportant ones. The idea is to strike a happy medium throughout the workday. This time management technique is only successful when goals are well stated.”What is important is seldom urgent, and what is urgent is seldom important.” - US President Dwight D. Eisenhower
How it works Eisenhower divides tasks into 4 distinct categories:Eisenhower matrix helps to distinguish between urgent and important tasks and non-urgent and unimportant tasks.
2. Timeboxing technique by Elon Musk
Timeboxing, also known as time blocking, is a time management technique that requires you to allot a specified amount of time to concentrate on a task or activity and then integrate the resultant time blocks into your schedule. Elon Musk plans his own calendar using this time management technique. Teams may also use this technique to manage their time better and be more organized and productive.How it works Timeboxing consists of four phases: The ''plan'' phase entails: planning everything, including tasks and activities, and prioritizing them. The ''block'' phase entails:Elon Musk is quite a busy man. He has a ‘5 minute rule,’ which entails planning his day out in 5 minutes blocks.
3. Automated productivity management technique
Observations alone may not be enough to understand how to improve time management, particularly in larger teams and businesses. Automated productivity management tools, like employee time tracking solutions, are a technology that no computerized office should be without today. You don’t have to guess; you know exactly how your employees spend their working time with this technology. Time tracking tools provide a simple, straightforward method for measuring and improving employee time and productivity. Equipped with transparent data and techniques for effective time management, teams will strategize disruptive transformations.How it works Install time tracking software on your network. It works automatically in the background and collects comprehensive data about employee computer usage. View reports in real-time. The reports provide the following info: productivity level and factors affecting productivity; attendance, overtimes, and false overtimes; employee distraction level and factors; the total number of hours worked by each employee, logins/logouts, etc. All the monitored information helps the managers and the employees become aware of the traits keeping productivity low and how exactly the working time is being wasted. Who can benefit from this technique?With automated productivity management technology, you don’t have to guess; you know exactly how your employees spend their working time.
4. The Pomodoro technique
According to statistics, it ranks second alongside the best age-old time management techniques. Specifically, this method serves well for combating procrastination and maintaining productivity and focus. Francesco Cirillo invented it in the early 1990s. The Pomodoro technique alternates between 25 and 5-minute work and break periods. Each of these 25-minute productivity bursts or intervals is known as a Pomodoro.How it worksThe Pomodoro technique alternates between 25 and 5-minute work and break periods.
5. The SMART technique
The SMART technique is a common goal-setting technique. This technique has been in use since 1981 when George T. Doran's paper titled "There's a S.M.A.R.T. (Specific, Measurable, Attainable, Relevant, and Time-bound) way to write management goals and objectives" was published. Setting goals is an essential part of effective time management.How it worksAccording to Entrepreneur, goals are significant contributors to successful business growth.
6. The Kanban technique
The Kanban technique is a system that can help you better manage your tasks and provide clarity on what to do, and evaluate how well you do it. Its origins can be traced back to Japanese manufacturing. The Japanese word for a "visual" sign is Kanban. This management technique involves moving tasks through a sequence of processes to aid teams to visualize work, increase productivity, and continuously improve. It underlines inefficiencies in the system as well as anything else that could disrupt smooth workflow.How it worksThe Kanban technique involves moving tasks through a sequence of processes to aid teams to visualize work, increase productivity, and continuously improve.
7. The ALPEN method
The ALPEN method is a quick and simple instrument in the time management methods arsenal, aiding to complete tasks during the workday. This time management technique ensures that you accomplish the right things at the appropriate time through daily planning. The focus is to enhance performance while drastically reducing stress. The approach was created by Lothar J. Seiwert, a German professor and author. "This method focuses the user on pragmatic daily planning and consistent priority setting, and it only takes around 5 minutes per day to plan,” says Seiwert.How it works The framework is built around 5 simple ideas. The only things needed are a pen, some paper, and some self-discipline. Based on the acronym ALPEN, it divides planning into five activities:”The ALPEN method focuses the user on pragmatic daily planning and consistent priority setting, and it only takes around 5 minutes per day to plan.” - Professor Seiwert.
8. The Pareto principle
The Pareto principle, also known as the 80-20 rule, is one of those fundamental principles that every business should understand. This time management technique was named after an Italian economist, Vilfredo Pareto, in the19th century. This economist observed that 80% of Italy's wealth was concentrated in the pockets of 20% of its citizens. The same phenomenon can be seen today in everything, where things are distributed according to the 80/20 proportion most of the time. In time management, the Pareto principle states that 80% of outcomes come from 20% of their time and effort. This principle can help prioritize activities that will have the biggest impact on business.How it worksIn time management, the Pareto principle states that 80% of outcomes come from 20% of time and effort spent on them.
9. Eat that frog technique
The "Eat that frog" concept entails tackling the most difficult and tedious task first. This task, or "frog," is the one that you consider the worst and are most likely to procrastinate on. By doing so, you remove the possibility of pushing it back throughout the day and not finishing it. This time management technique is based on Mark Twain's quote, "If the first thing you do each morning is eat a live frog, you can go through the day with the satisfaction of knowing that that is probably the worst thing that is going to happen to you all day long." Brian Tracy, a self-help guru, used the well-known quote "Eat that frog" as a helpful time management technique in his book.How it worksThe Eat that frog concept entails tackling the most difficult and tedious task first.
Bonus! Time management from famous successful people
Warren Buffett
Best time management techniques from CEO of Berkshire Hathaway - Warren BuffettTry the “two-list” strategy
The two-list strategy is all about focusing your attention and mastering your priorities by eliminating less important things.Reduce the amount of time you spend commuting
Buffet explains that most of the time invested is the time most of us spend commuting to work.Say no to meaningless things
"The difference between successful people and really successful people is really successful people say no to almost everything," Warren Buffet once said. He perfected the art and practice of establishing personal boundaries. Warren Buffett reveals in an interview with Bill Gates that he keeps a very light calendar, often having days where he has nothing scheduled.Warren Buffett: Say no to meaningless things.
Decision reduction
All decisions, no matter how big or small, require energy and mental power. Avoid making decisions that will drain your willpower unnecessarily.Apply the 5-hour rule
Dedicate five hours per week, or one hour per working day, to intentional learning.Sergey Brin
Best time management techniques from Google's co-founder Sergey BrinTake away temptation
When working on a task, shut down everything open on your computer unrelated to the task at hand.Limit emails
Turn off the Bing, set specific times for checking email.Don't let Facebook suck you in
If you don’t rule Facebook or other social networking sites, they will rule you. Limit yourself to 10 minutes and then completely log out.Sergey Brin: If you don’t rule Facebook or other social networking sites, they will rule you.
Close the door
If you want to focus, shut out all distractions. You may even want to announce to your co-workers or children that you are doing it. You don’t want to do this all the time, but it signals that you’re serious about getting something done when you do.Write it down
Most of us are visual. We know our goal, but it’s super easy to get thrown off by so-called urgent interruptions unless it’s in front of us.Give yourself downtime
Allot a block of time to relax and clear your head.Be strong in your focus
Be like a rock, not a tree. Don't get blown around by the chaos around you.Elon Musk
Best time management techniques from the CEO of Tesla, SpaceX, and Neuralink — Elon MuskStart your day with the most important work
Elon Musk starts his day with his most critical work. This includes dealing with important emails that he needs to address to unblock other people’s work and progress.Make use of feedback loops
An important part of Elon Musk’s work ethic is incorporating his own feedback and others. Elon Musk believes there’s always room for improvement. He’s always thinking of better ways to approach every area.Elon Musk believes there’s always room for improvement. He’s always thinking of better ways to approach every area.
Reason from the first principle of physics
A first principle is a basic assumption that can’t be deduced from any other proposition. It’s the only sure thing in a complex problem.Use asynchronous communication
Elon Musk prefers to communicate on his own terms. That means defaulting to email and texts, both asynchronous ways of communication.Outsource
Elon musk suggests that his team utilize outside resources. There is no need to struggle with a task if you could hire someone to do it.Batch your tasks
Elon Musk multi-tasks strategically. Whenever possible, he combines several tasks in a productivity hack known as batching.Keep a strictly segmented schedule
Elon Musk spends up to100 hours a week working. He often manages his time using feedback loops and timeboxing techniques.Develop a wide knowledge base
Over the years, Musk developed T-shaped skills: a lot of knowledge in one particular field and a substantial amount of knowledge in many other disciplines and topics.Oprah Winfrey
Best time management techniques from renowned American media executive - Oprah WinfreyPlan and schedule
Oprah plans and schedules everything, from the time she wakes up at 6 a.m. to the time she goes to bed at 10 p.m.Declutter
Oprah always keeps her desk clean to ensure that she works effectively.Do not procrastinate
Oprah uses two strategies to combat procrastination: First, she gets the little things out of the way to focus on the important things. Second, she does enjoyable tasks last.Oprah Winfrey: plan your day, do not procrastinate, give undivided attention to each task, remember "me time"!
Give each project complete undivided attention
Oprah has mastered the art of concentration. She prefers to complete each task one at a time to devote her full attention to it.Grow and let go
Oprah tries to surround herself with professionals and allows them to do their jobs. This means she delegates work.Don’t forget “me time”
Oprah has devised a way of life and a schedule that allows her to relax and rejuvenate. Her day begins with exercise and concludes with reading and gratitude journals. She also practices complete stillness, which helps her focus and clears her mind.Victoria Beckham
Best time management techniques from fashion mogul - Victoria Beckham:Be an early bird
Victoria Beckham is an early riser. She believes that being an early bird is essential for success and enjoying life to the fullest.Victoria Beckham believes that being an early bird is essential for success and enjoying life to the fullest.