8 time administration statistics each enterprise ought to know in 2023

Time administration—it’s one thing that we hear on a regular basis. And if we’re being trustworthy, it’s one thing we may all most likely stand to be a bit higher at.

Time administration can have a profound influence on our productiveness, particularly within the office. And we’ve obtained some shocking stats to show it.

Maintain studying as we cowl the fundamentals round time administration and why it issues for your enterprise. And naturally, we’ll share a few of our favourite ideas and instruments to raise your group’s time administration abilities very quickly.

Table of Contents

What’s time administration?

Put merely, time administration is the artwork of optimizing your time to realize your targets. 

All of us have a restricted variety of hours in a day—24 to be actual. And there’s solely a lot time we will dedicate to work and different actions. Whereas we will’t make extra hours within the day, we will take steps towards taking advantage of that point. 

Time administration makes use of cautious planning and prioritization to assist divide your time between all of the various things in your to-do listing.

Whereas all of us wish to consider that we handle our time effectively, the reality is that the majority of us don’t. Particularly in relation to the office. In response to Forbes, between social media and different distractions, workers can waste as much as two hours a day at work.

Poor time administration typically slips by means of the cracks—particularly when it looks as if work remains to be typically getting achieved. However with a number of time administration enhancements, simply think about what your group may accomplish when you leveled up your enterprise’s time administration abilities.

Why is time administration essential?

Time administration helps us work higher and smarter. However when companies don’t prioritize time administration, it will probably have a big influence on worker productiveness and total enterprise operations. 

When time administration isn’t a precedence, it will probably create:

  • Excessive ranges of stress and burnout: When workers and groups don’t handle their time effectively, productiveness takes a success. This implies targets can take for much longer to achieve than anticipated. A rising to-do listing and the stress of not assembly expectations is the proper storm for creating worker stress and burnout. 
  • Inefficient worker scheduling: When time isn’t being managed correctly, you possibly can’t get an correct grasp on the time it takes to finish duties. This makes creating optimum schedules tough, typically leading to over or understaffing shifts.
  • Elevated working prices: It’s true what they are saying—time is cash. Wasted time and assets can value you a fairly penny. When workers aren’t producing what’s anticipated of them throughout their scheduled hours, it will probably value companies in time beyond regulation and further working hours. 

Thankfully, investing time into time administration may also help your group get forward.

The advantages of fine time administration

When there are 100 issues on the go, it may be tough to carve out the time for time administration. It could actually typically really feel counterproductive—prefer it’s consuming up valuable time that you simply don’t have.

However the time you are taking to plan and re-prioritize will be game-changing and show you how to get extra achieved sooner. 

Listed below are some methods small companies can profit from working towards good time administration abilities.

    • Saved labor prices: Making higher use of time implies that companies can obtain extra in much less time. In response to a Homebase buyer survey, 1 in 8 small enterprise homeowners have minimize down prices to save lots of during the last six months. Many have opted to restrict stock, companies, or hours of operation to account for inflation and different rising prices. A majority of these cuts can influence income. But when you will get extra achieved with the identical or much less labor, you’ll save with out impacting your clients.
    • Higher job satisfaction: Most workers wish to put their greatest foot ahead at work. Correct time administration may also help them do higher work. Staff are additionally happier and extra content material with their function in the event that they really feel that sense of accomplishment—which may additionally minimize down on worker turnover.
    • Improved buyer expertise: Environment friendly groups can reply to clients shortly and extra successfully. This helps construct higher relationships with present and future clients.
    • Stronger group tradition: When groups collectively consider in working smarter, not more durable, workers are much less more likely to really feel burnt out. It additionally builds a tradition the place workers work collectively towards a standard aim, which may minimize down on poisonous workplaces. When employers prioritize time administration, it reveals that they’re in search of methods to scale back pointless work for his or her workers.

8 time administration stats that can assist you enhance your time administration

Time administration helps construct successful groups and develop profitable companies. 

Don’t consider us? These stats about time administration make it clear that point administration is a should for each small enterprise.

Labor is the primary value for companies, accounting for 70% of spending

Labor prices are what you pay on your workers’ time. With labor being one of many highest prices for small companies—it can account for up to 70% of spending—time is considered one of your most respected property. That’s why it’s so essential that it doesn’t go to waste. And but…

The typical employee spends 51% of each workday on low to no-value duties

Low or no-value duties are issues that don’t contribute in a significant method to your total enterprise targets. These duties can typically be repetitive or redundant, but take up over half of the average employee’s workday.

For instance, a restaurant worker who’s taking stock of takeout containers for the sixth time right now is performing what may most likely be thought-about a low-value process. 

Overstaffing and lack of course can typically lead workers to spend their time on low-value work.

Think about how far more your group may accomplish if that point had been reallocated to issues that would really propel your enterprise ahead.

“Will it make the boat go sooner?” In a book by popular keynote speaker, Ben Hunt Davis, he shares the strategy that helped the Nice Britain Rowing group row themselves to Olympic Gold. 

After years of doing the identical factor and reaching mediocre outcomes, they realized their final aim was to make their boat row sooner. So the group began asking themselves one all-important query: “Will it make the boat go sooner?”  

Any time the reply wasn’t sure, the group would take it off their exercise listing.

We might not all be Olympians, however the identical ideas will be utilized to the office. When evaluating what your group is spending their time engaged on, think about asking your self, “Does it make the boat go sooner?” or alternatively, “Does this deliver us nearer to our targets?”. 

If the reply isn’t any, it could be time to rethink if it’s value doing in any respect.

82% of individuals don’t have a time administration system

Most of us acknowledge the significance of time administration, however few of us put the techniques in place to make it occur. 82% of individuals don’t have a structured time administration system in place.

A time administration system is a course of or strategy to managing your time. It’s a confirmed methodology of serving to you divvy up duties and prioritize them based mostly in your targets. Some frequent examples of time administration techniques embody the Eisenhower matrix and the Pomodoro methodology. 

Have we piqued your curiosity? We’ll cowl each of those intimately beneath.

The typical individual checks their telephone 96 instances a day 

All of us like to roll our eyes at these pesky display screen time reminders. However this quantity reveals that we most likely want them. Whether or not we’re checking our emails or social media, this equates to us reaching for our phones approximately every 10 minutes

Our telephones present a lot worth and may also help us be productive. However they may also be a serious supply of distraction. If workers are spending hours of their work day scrolling by means of Instagram or texting their mates, that’s quite a lot of time misplaced in your firm’s dime.

Conferences value firms of all sizes thousands and thousands of {dollars} a yr

We’ve all had these conferences, you recognize, those that would have been an e-mail. Seems these conferences are fairly costly—costing small companies up to $2.5 million a year.

In fact, there are conditions the place conferences will be worthwhile. However as a basic rule of thumb, conferences will be extraordinarily inefficient. That is very true in companies with hourly and shift employees the place gathering the complete group can get fairly difficult.

As an alternative, use a group communication platform to simply get crucial data to the fitting individuals with out gathering everybody in a gathering.

The typical worker spends as much as 9% of their yr switching between totally different apps

Yikes—that’s virtually 200 hours a year dedicated to navigating between platforms at work. This doesn’t even account for the time that our brains spend context-switching throughout the day.

Benefiting from app integrations and different options may also help your group cut back the period of time spent going backwards and forwards between totally different duties and apps.

Cease paying the toggle tax. Utilizing all-in-one platforms like Homebase may also help streamline your workflows. Whether or not you’re creating worker schedules, working payroll, or onboarding new hires, Homebase has all the things it’s essential handle your group—multi function place. So you possibly can spend much less time shifting between apps and extra time rising your enterprise.

20% of employees say they waste time at work as a result of they’re bored or aren’t excited about their jobs

If workers are bored and unstimulated, they most likely aren’t taking advantage of their time at work. Boredom can occur as a result of they aren’t engaged of their work or they merely don’t have sufficient work to do.

Bored workers may spend time on their telephones or chatting with different workers throughout their shifts to cross the time. And as you possibly can most likely guess, these workers are sometimes much less productive and produce lower-quality work. With 20% of employees wasting time out of boredom, it will probably value a fairly penny.

1 in 4 companies wish to spend money on operational effectivity in 2023

We like to see small companies investing strategically to assist set themselves up for future success. In response to a current Homebase survey, enhancing operational effectivity is a vital progress technique for small companies this yr.

When an organization makes use of its assets effectively, it will probably cut back waste and get monetary savings. A big a part of operational effectivity is ensuring that their group and assets ) are getting used successfully—with out affecting the standard of output.

Investing in time administration is only one means that companies can get nearer to reaching operational effectivity.

How one can enhance time administration in your enterprise

The numbers don’t lie: time administration is a standard wrestle amongst companies of all sizes. However the excellent news is that it’s an issue that may simply be solved with the fitting time administration methods and instruments.

Unlock extra time on your group with the following tips for enhancing time administration abilities inside your enterprise.

1. Outline your enterprise targets

You’ll be able to’t correctly prioritize your time when you don’t know what you’re working towards. Efficient time administration requires you and your workers to have a strong understanding of your targets.

Enterprise targets can vary from enhancing income, elevating buyer satisfaction charges, and even constructing model recognition. 

Understanding how their day-to-day duties ladder as much as overarching enterprise targets can even construct a way of function amongst workers. Readability round enterprise targets can even result in increased charges of job satisfaction and worker happiness.

2. Conduct common time audits

Plenty of groups fall into the entice of probably not understanding what they’re spending their time on. And as a enterprise proprietor, you need to know the place your cash goes.

Common time audits can provide you perception into what your group is engaged on inside a given time frame. With a time audit, you utilize time monitoring to get an in depth log of what everyone seems to be doing.

The aim right here isn’t to micromanage your group—and belief us after we say that gained’t assist enhance productiveness. Fairly it’s to get a greater understanding of labor habits and how one can higher use your worker’s time. 

Time audits can reply questions like:

  • What duties are taking over most of your group’s time?
  • How lengthy does it take to finish a particular process? And are you allocating an excessive amount of or too little time for it?
  • Are there initiatives that aren’t value spending time on?
  • Are there higher-value duties or initiatives your group might be engaged on?
  • Are there any time tendencies and patterns that want consideration?

By often performing time audits, you may as well observe effectivity enhancements over time.

Time-tracking instruments like Homebase make it straightforward to trace the hours your group works and conduct audits. With Homebase’s free time clock app, workers can simply clock out and in, proper from their telephones. A extra correct time monitoring system offers you higher management over the time your group spends at work and the related labor prices. 

3. Implement time administration methods and techniques

For most people, time administration doesn’t come naturally. It could actually take a little bit of time and observe to get to a degree the place you’re utilizing your time effectively.

In fact, you theoretically may handle your time in your head. However time administration techniques are structured processes which can be confirmed to enhance your productiveness. They’re instruments that make the duty decision-making course of simpler and show you how to keep productive.

Time administration techniques additionally foster a way of transparency amongst groups. It makes it clear who’s doing what and why, which contributes to a sense of belonging and a tradition of teamwork.

Unsure the place to begin? Listed below are some common time administration techniques you possibly can strive together with your group.

Eisenhower Matrix

This method divides your duties into 4 quadrants that show you how to decide what duties to prioritize. 

Relying on which quadrant your duties fall in, you possibly can both deal with them now, delegate, or push them to a later date.

Pressing Not Pressing
Necessary This quadrant consists of duties which can be high-value however are additionally time delicate. 

You must prioritize the gadgets right here.

This quadrant consists of duties which can be essential however wouldn’t have an instantaneous deadline.

You’ll be able to push these duties to a later date.

Not Necessary These duties are much less essential however have time constraints.

Take into account delegating these duties to another person.
These duties aren’t essential and aren’t pressing.

Your time is healthier spent elsewhere. Deprioritize these duties for now.

Pomodoro methodology

The Pomodoro method helps reduce distractions and hold workers targeted. The system prioritizes scheduled, intermittent breaks.

For instance, an worker will deal with work for 25 minutes, then take a 5-minute break.

By scheduling breaks, it’s simpler to keep away from workers checking their telephones each 10 minutes. In the event that they know they’ll have 5 minutes to do it later, it will probably assist them keep targeted on the duty at hand.

Time blocking

Particularly in fast-paced environments, like eating places or retail, lots is happening without delay. It’s straightforward to search out your self pulled in 100 totally different instructions. Time blocking helps your group deal with one factor at a time.

With time blocking you begin with an inventory of duties. Then you definitely estimate how lengthy every process will take and assign a block of time the place you’ll work on that particular process.

Time blocking creates a concrete schedule. This reduces the necessity for context switching and makes it simpler to keep away from distractions and interruptions, like emails or different minor duties.

Employers with hourly workers can construct the idea of time blocking straight into worker schedules. By assigning particular duties and roles forward of time, workers can keep targeted on higher-value duties throughout their shifts.

4. Prioritize efficient scheduling

To an extent, you possibly can empower your workers to handle their time whereas on shift. However the way you schedule your workers is crucial for setting them on the trail to success at work. In any other case, you may end up with a bunch of workers sitting round twiddling their thumbs—and nobody desires that.

Listed below are some issues that you are able to do to successfully schedule your workers.

  • Think about gross sales and buyer volumes. Just be sure you’re scheduling the fitting variety of workers based mostly on the anticipated work. Overstaffing typically creates conditions the place workers are caught engaged on low-value duties. Then again, understaffing may cause workers to enter avoidable time beyond regulation and lead to a decrease high quality of labor.
  • Present clear shift particulars, together with begin time, finish time, and scheduled breaks. This may also help workers present up on time and higher handle their time throughout their shifts. Superior discover and versatile scheduling can even assist enhance worker morale and satisfaction, which in flip impacts productiveness.
Scheduling tip: Take advantage of out of your workers’ time with Homebase. Homebase’s scheduling app may also help you automate worker schedules based mostly on worker availability and gross sales forecast. 

The very best half? You’ll be able to import gross sales information to get detailed insights into your labor hours in comparison with your gross sales and targets. So you possibly can optimize your schedules as your group will get higher at managing their time at work.

5. Automate tedious and repetitive duties

Enterprise homeowners and workers typically discover themselves engaged on tedious and time-consuming duties. The place doable, think about implementing instruments and expertise to unencumber that point for extra essential duties.

For instance, payroll and time monitoring will be one thing that takes up quite a lot of time for enterprise homeowners. As an alternative, say goodbye to handbook monitoring and use an all-in-one automated worker administration platform. Constructed-in automations and integrations will prevent time, and cut back the necessity for consistently shifting between a bunch of various platforms.

“With Homebase, we’re capable of give our small enterprise the construction it wants. From scheduling to time monitoring, we’re capable of arrange our group, funds for our labor prices, and arrange our calendar in a really environment friendly method. And one of the best factor is how versatile and simple to make use of it’s! As a enterprise proprietor, I completely suggest it to anybody who’s trying to save time and arrange their enterprise.”

  • Sarah, Proprietor at Sarahlú Confections, Homebase Buyer

The identical ideas apply to your workers as effectively. Use expertise and instruments to make it simpler for them to spend their time on higher-value work. For instance, sending out communications utilizing a group communication app is a simple method to save on pointless assembly hours.

6. Reduce distractions

We reside in a world of distractions, notably these of a digital nature.

Getting distracted is regular—we’re solely human in any case. However after we’re interrupted, we are inclined to lose our focus. It could actually take quite a lot of power for distracted workers to return to their work.

By minimizing distractions within the work atmosphere, it’s simpler for workers to remain on observe with the duty at hand. 

Some methods to reduce worker distractions embody:

  • Limiting private telephone use whereas on the clock
  • Offering common breaks to assist workers keep targeted
  • Setting shift targets to provide workers one thing to work in direction of
  • Conserving workspaces clear and arranged

Simplify time administration with Homebase  

If time administration feels a bit daunting—we get it. However we promise that the time and power you spend money on time administration on your group is value its weight in gold.

Plus, we’ve obtained a not-so-secret weapon that can make managing your workers’ time a breeze: Homebase.

Homebase is trusted by over 100,000 small companies to raised handle their workers.

Make scheduling hassle-free by creating worker work schedules in only a few minutes. Assign roles and schedule based mostly on gross sales forecasts, so that you’re making one of the best use of your workers’ time whereas they’re on the clock.

And when it’s time for his or her shifts, our time clocks provide the confidence of understanding precisely who’s clocking in, when, and the place. You can even observe gross sales towards hours labored so you will get the insights it’s essential optimize your labor prices.

And naturally, we’re right here that can assist you empower your workers to take management of their very own time administration from day one. Documentation, together with time administration assets, will be despatched on to workers of their digital welcome packets.

Need assistance with time administration?

Get Homebase, and begin optimizing your time with top-rated scheduling, time clocks, messaging, payroll, HR, and extra. Get began without spending a dime

Time administration FAQS 

What’s time administration?

Time administration is a mixture of planning and prioritization that helps you take advantage of your time. The aim is to realize your targets as effectively and successfully as doable. Usually, time administration consists of balancing urgency and influence to assist prioritize all of the issues that have to get achieved.

Why is time administration essential to companies with shift employees?

Time administration is essential for shift employees and hourly workers as a result of they’re paid based mostly on their time spent at work. So if time is being wasted or used inefficiently on account of poor time administration, companies can shortly incur further prices to make up for the extra work.

How are you going to enhance your time administration?

To enhance time administration, it’s important to begin by understanding your total enterprise targets. After which, you possibly can implement time administration techniques that can assist you and your workers prioritize duties and actions that can show you how to obtain these targets.

Higher worker scheduling, extra automation, and common time audits are all methods companies can enhance time administration abilities inside their groups.

Can an app show you how to make time administration straightforward on your workers?

Sure—an app may also help you make time administration simpler on your group! Incorporating apps and expertise are a number of the greatest methods to enhance how your group makes use of their time. You don’t want to determine time administration all by yourself. Companies love apps like Homebase that assist streamline worker scheduling and time monitoring. It helps save on labor prices and frees up time for duties that deliver extra worth to the enterprise.