Time management in business can be defined as the process of planning and exercising conscious control of time spent on specific activities, especially to increase effectiveness, efficiency and productivity. It is the process of organising and planning how to divide one’s time, between specific activities. Good time management requires an important shift in focus from activities to results, because being busy is not equivalent to being effective. It actually enables you to work smarter, not harder, so that you can get more work done in less time, even when time is tight and pressures are high. Time management may be aided by a range of skills, tools and techniques which are used to manage time, while accomplishing specific tasks, projects and goals complying with a due date. Good time management also means that a business is able to solve problems that arise, without letting it affect day-to-day operations. Therefore business owners can and should cultivate a workplace that values time management. Some basic steps to improve time management in the workplace are discussed below.
STEPS TO IMPROVE TIME MANAGEMENT IN THE WORKPLACE :
• Prioritising : Prioritising the items on your to-do list is very important. Rank each item by its importance or deadline and start working down the list.
•Setting measurable goals : Establishing clear cut goals is very essential. It will help you measure the success of your work and effectively track progress that you have made towards the goal, in the given time frame.
• Planning ahead : An important aspect of planning, is to be realistic about what you can achieve and how quickly you can work through that time line. Planning ahead saves time and unnecessary steps. Once you have established your goals you can also start working on a time line to reach them.
• Knowing when to delegate : Knowing the right time to delegate some of the responsibility to other team members, can save you quite a bit of valuable time. As a business owner, it is essential for you to know that, because otherwise you may get stranded with work that can easily be done by someone else. As the owner, it is necessary for you to focus on the bigger picture.
BENEFITS OF TIME MANAGEMENT :
Improving time management at workplace helps you to enhance your performance and achieve your desired goals with less efforts and more effective strategies. Actually, time is an irreplaceable asset in today’s fast-paced, over-competitive business world. There are many advantages that can be gained from proper management of time. These are –
• Delivering work in time and thus meeting deadlines efficiently.
• Providing a better quality of work due to proper utilization of time.
• Increased productivity and efficiency
• Much less procrastination as time management helps to reduce the urge to delay.
• Less stress and anxiety because workload does not pile up, leading to excessive work pressure.
• Improved quality of life can be attained by keeping things under control on the professional front.
• More opportunities and career growth owing to the good reputation of your business for being punctual.