Poor Business Time Management Drains Profits, Increases Costs and Suggests Poor Leadership

Time management is still one of the most frequently searched times as a solution to the performance improves. A Google search (September 2006) shows 19,200,000 hits. It seems a lot of individuals, the responses from the training workshops, such as purchasing tools such as PDA's in their constant quest to improve the performance of these limited-specific, firm, is constant.

In the last 10 years working in my performance improvement and executive coaching, I haveconsistently answer the following simple question, even the busiest of managers, entrepreneurs, small business owners, executives and staff front: Have you amazed waste 12 minutes per day What is the consistency of the response at all levels: Yes! This consistency suggests that people at all levels need better self-manage their activities so that they will be able to achieve the results required of them.

Businesses understand the economic impact ofwaste of time to translate. This wasted 12 minutes per day in 1 hours per week or 52 hours per week. With an average salary (excluding benefits) of U.S. $ 30,000 amounts to less than the annual loss of U.S. $ 576.92 per employee. Since most organizations are regarded in this country, small firms with fewer than 500 employees, with 100 employees, then a negative impact of lost profits and productivity or performance alone of $ 57,692 provides for fair wages.

However, lost time isnot just a performance problem as the lack of personal self-management, but can also be a symptom of a larger significant organizational leadership issues. The question must be asked: Why is there a waste of time? In many cases, the lost time can be a direct consequence of some of the following management problems:

Do not know lack of organizational direction, what to do next, not to know their business objectives
Micro-management is thatWaiting for authorization to proceed
Poor social skills of communication of bad decisions and problem-solving skills
Poor processes, policies and procedures
Accountability (disconnect between performance and results)

Now we want to assess a U.S. dollar impact on each of these problems faced by the employees. For 100 people, had one of these problems every working day is $ 100 per day. This $ 100 loss is growing daily up to $ 26,000 per year. In combination with theLoss of wages, the hit on the bottom line is, almost 100,000 U.S. dollars. If the company has 250 employees, would this loss of pay and performance increase to over $ 200,00. A company with 500 employees would experience a potential loss of profits of more than $ 410,000.

A recent survey by the National Salary.com suggests that most employees waste 2 hours per day, not only 12 minutes. Also, many employees find themselves more than one problem per day. These facts show that poor time management potentialcontributes to far greater loss of profits than the $ 100.00 to 400,000 U.S. dollars is calculated as before.

To reverse the burden on the profits requires management to really analyze their problems and change their beliefs, time management is just a "personnel" issue, it is an organizational problem that requires effective leadership.

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