Latest news with #timeManagement
Fast Company
2 days ago
- Business
- Fast Company
$1,000 for a meeting? How to calculate how much time at work is really worth
Your time spent working has a real dollar amount attached to it. But I often find as a time management coach that people don't think about the 'expense' of their daily work activities. If they did, they likely would be much more hesitant to spend the equivalent of hundreds of dollars a day on things like email. If you're curious how much your time is worth and how to use that information to make choices about what you do and don't do on the job, here are three simple steps you can take today. Calculate your hourly rate In some professions, the value of your time is pretty straightforward to determine. When you bill clients per hour or get paid at an hourly rate, you know exactly what your time is worth. Making these calculations is a little bit more difficult in other situations, but not impossible. For example, if you have a salaried job with paid vacation, this is how you figure out the value of your time: Multiply how many hours you work per week by the number of weeks in a year. So for example, if you work an average of 45 hours a week, then you would multiply 45×52 to get 2,340 hours per year. Then you divide your annual salary by those number of hours. So if you make $75,000 per year, the hourly rate would end up being about $32/hour. And finally, if you get paid by the project, you'll want to take your project fee, subtract expenses like materials, and then divide the remaining amount by the number of hours it takes you to complete the project. So if you got paid $1,000 for a project, had no expendable materials, and spent about 13 hours on it, then your hourly rate would be around $75/hour. Evaluate your time spend Once you've calculated how much your time is worth, then you can start to evaluate your daily time choices through that lens. For example, maybe you have a mix between messages, tasks, and meetings throughout your day. If you find yourself frequently sucked into email, Slack, or other inboxes, ask yourself what percentage of your daily budget you think that communication is worth. Then try to limit your time in that area, such as I only give the equivalent of $250 a day to communications. Or if you notice some tasks on your list are time-consuming but not super high value, you may want to consider delegating them to someone else. If your time is worth about $60 an hour and a task takes five hours, that's $300 of time. But if you're paying an entry-level employee $15 per hour, that same task ends up only costing $75. For you to do the task might not make sense. And finally with meetings, you'll not only need to consider your hourly rate, but also the hourly expense for each additional person in the meeting. Depending on how many people are attending and their particular level of compensation, a single meeting could 'cost' $1,000 or more. By starting to look at meetings through this filter, you can better determine whether or not you should go to meetings, as well as when you're hosting, how many people really need to come, and how long the meetings need to be. Don't forget the opportunity cost Finally, to most accurately assess the value of your time, you'll need to determine not only your hourly rate, but also the opportunity cost of spending your time in different ways. This varies quite a bit depending on your compensation structure. But here are a few examples of ways to consider the financial opportunity cost of different time choices. If you're in sales and choose to fill your calendar with current client meetings to the point that you don't have enough room for meeting with prospects, your client meetings could be costing you thousands in missed opportunities for sales commissions. If you own a business and only focus on day-to-day activities without investing in business development, those routine tasks could be at the expense of large amounts of unrealized business growth. If you've been told that you need to hit certain goals to receive a promotion or bonus, and you spend your time in areas that don't allow you to hit those goals, then you're missing out on all of that potential compensation. There are certain activities that you need to do for your job no matter what. But if you evaluate how you're spending your time with the mindset that every hour has a dollar amount attached to it, then you can make better choices on how much time you spend in different areas of your work as well as whether certain activities are even worth your time at all.
Irish Times
2 days ago
- Business
- Irish Times
‘No timewasters please': is setting boundaries necessary or plain rude?
In the early days of my obsession with eBay , a comically aggressive message was often added to the description of items offered for sale: no timewasters please. What's that all about? I said to myself. Sounds a bit strung out. Back then, I was less knackered and overstretched. 'Chillax mate!' muttered the old me, perplexed at the defensive, irascible tone of these harassed sellers. Around the same time, during a busy afternoon in the FT newsroom, I was equally taken aback by a colleague doing something similar in person. Faced with the conversational advances of a fellow hack telling him about some problem, he simply rejected the approach. 'I just don't have the bandwidth,' he firmly stated. He actually held up a hand to ward them off and got on with his own work. Wow, I thought. Ruthless but effective – and probably quite male, too. READ MORE Lately, I've been thinking about how the Miranda of yesteryear reacted. I was noticing how others set boundaries assertively. It struck me as rude. But I failed to see it was addressing a phenomenon that it is wise to protect yourself against: things that take up your time when you don't have enough of it. Now it's different. Emails and SMS messages have, since those innocent times, been joined by WhatsApp groups and social media notifications that make keeping on top of work messages a round-the-clock marathon. Looking after elderly parents has created a tsunami of admin, to which my kids' school has piled on a hefty serving of mad apps to communicate, separately, everything from homework assignments to vaccinations and absences. Simply do what's urgent. Learn how to discern the things that actually need your attention, and deal with them straight away. I would recommend this over the tyranny of to-do lists, where medium-term tasks become dreadful psychological burdens It's all a colossal faff. And I'm not alone. A recent poll found that Britons spend 1.52 billion hours as a nation on admin every year and it's burning a big ole hole in our productive time – not to mention speeding us to digital burnout as well. The worst affected are women in middle age – probably because we are taking care of admin on behalf of the young and the old. Does it make me feel better to know my overwhelm is typical? Possibly not – I'm not sure there is safety in numbers if they denote the hours of time spent on this nonsense. To quote Peter Finch in Network: I'm mad as hell and I'm not going to take this any more. What's the solution? According to Cal Newport and other prophets of reclaiming your resources for what matters, it's best to turn it all off. Just opt out – of emails, social media and the whole digital enchilada. Maybe set a bounceback message, but don't promise to read any of it. Life is out there waiting for you to live it, and work also needs you to get properly stuck in, with no distractions. Most of us, however, don't have the luxury of disappearing even for a day. The impossibility of truly logging off gives rise to droll suggestions on social media for how to manage a bulging email inbox. How about a weekly ballot to choose one that gets a reply, the rest get deleted? If only! But there is a better approach. It even worked for me for a few years, until the digital onslaught gathered force. Simply do what's urgent. Learn how to discern the things that actually need your attention, and deal with them straight away. I would recommend this over the tyranny of to-do lists, where medium-term tasks become dreadful psychological burdens. In the news industry, this is the norm. Follow up right now, make that phone call, write the damn thing down, find the information and pass it on. Then you move on to the next task. When people dither in a newsroom, it's unusually irritating. More than that, it seems a bit of an affront – hence my colleague's refusal to engage all those years ago. And who had the worse manners in that exchange, really? This is something I've returned to. Now, I think setting boundaries is entirely necessary. That doesn't mean I would dare tell a coworker I don't have the bandwidth, not least because women are expected to be nicer. But I'll certainly be less thoughtless about other people's time. No more expecting a response to pointless messages, such as the one I sent to the editor of this column with the silly joke about email ballots. There's nothing wrong with sharing a bit of levity in the working day. But neither is there anything wrong with ignoring it. As she wisely did. 'No timewasters please!' – Copyright The Financial Times Limited 2025
Entrepreneur
2 days ago
- Business
- Entrepreneur
Why Efficiency Matters and How to Make Every Workday Count
Time is the most valuable resource in the world today — and it always has been. Whether you are an entrepreneur running your own business or an employee navigating your... This story originally appeared on Calendar Time is the most valuable resource in the world today — and it always has been. Whether you are an entrepreneur running your own business or an employee navigating your daily tasks, finding ways to increase efficiency can make a big difference to your workday and long-term success. Being efficient doesn't only mean you're getting things done faster. It's about delegating your own time, concentrating on what will yield the most meaningful results in your day, as well as being quick about it. Poor time management and wasted efforts drain motivation and cause unnecessary frustrations. The good news is that with a little awareness and the right strategies, you can improve your work efficiency and make every workday count. Why Workplace Efficiency Matters Workplace efficiency is about more than just completing tasks. It's about working smarter and minimizing distractions. On average, employees spend only about 60% of their workday on productive tasks. The rest of the time is spent on non-productive activities, such as emails or social media. This productivity gap is a glaring indication that there is room for improvement. When you streamline your processes, you complete tasks more efficiently and with greater focus. This gives you more free time, less stress, and ultimately, better quality of work. Additionally, as efficiency improves, so does job satisfaction. Knowing you're using your time wisely reduces stress and enhances your sense of purpose and accomplishment. Moreover, efficient work habits lead to long-term success. As you develop a routine that values time management, you create a cycle of continuous improvement. Your personal development and career progression become intertwined with a strong foundation of discipline and innovative strategies. Time Wasting Habits The first step in making every workday count is to identify what holds you back from being more efficient. Time-wasting habits can often go unnoticed, but once identified, they can be addressed and corrected. Procrastination: It's easy to put off complicated or tedious tasks, but this only increases stress and pressure later. Procrastination often leads to last-minute scrambling and lower-quality work. Multitasking: Contrary to popular belief, multitasking can reduce productivity. Switching between tasks can reduce cognitive efficiency by up to 40%. That's big. Focusing on one task at a time allows you to work more effectively and produce better results. Lack of Prioritization: Without a clear sense of what's essential, you may waste time on low-priority tasks that don't move you towards your bigger goals. Prioritizing tasks ensures your energy is spent where it matters most. Constantly Checking Email or Social Media: It's easy to check emails and social media every few minutes. These distractions break your focus and eat up valuable time. Disorganization: Clutter, whether physical or digital, can reduce your ability to focus. Searching for files, emails, or documents can waste time and add unnecessary stress to your day. To optimize your workday, take some time to reflect on your habits. Identify the causes of inefficiency and take the necessary steps to minimize these distractions. If necessary, try deleting social media apps from your phone for a few days and see how it affects your productivity. You'd be surprised how much time you can win back by removing a few small things from your life. Strategies to Make Every Workday Count Now that we've discussed why efficiency matters and identified common pitfalls, let's look at strategies to make your workdays more productive and meaningful. 1. Set Clear Goals for the Day Start each day by outlining your top priorities. Knowing exactly what you need to achieve helps you stay on track and focused. This can be done with a simple to-do list or through a digital scheduling tool like Calendar, which can help you visualize your day and track your progress. Setting clear goals prevents you from getting sidetracked and ensures you're working toward meaningful outcomes. 2. Use Time Blocks to Stay Focused Time blocking is a highly effective method for increasing productivity. Instead of constantly switching between tasks, allocate specific blocks of time for different activities. For example, you could dedicate an hour in the morning to focused work, followed by a 15-minute break, and then another task. In creating these structured blocks of time, you'll inevitably reduce the temptation to multitask. Incorporating tools like Google Calendar or Microsoft Calendar into your workflow can help you visualize your time and stay committed to your time blocks. These tools allow you to set reminders and make adjustments as needed. 3. Prioritize Your Tasks Not all tasks are created equal. Some activities are critical to achieving your goals, while others may be less important. The Eisenhower Matrix is a well-established time management tool that helps you prioritize tasks based on their urgency and importance. It enables you to distinguish between functions that are: Important (but not urgent) Urgent (but not important) Both important and urgent Neither important nor urgent This way, you focus on what truly matters. 4. Limit Distractions Distractions are the arch-enemy of efficiency. Whether it's a ringing phone, a noisy environment, or endless notifications, distractions can cause you to lose focus and waste valuable time. To counteract this, create a designated workspace that is free from unnecessary interruptions. Use apps to restrict websites and mute notifications during critical work periods. Managing your digital distractions can greatly impact the quality of your work and the time you spend on it. 5. Automate Repetitive Tasks Automation is a game-changer that increases work efficiency. There are numerous tools available to automate repetitive tasks, including setting up automatic reminders, email filters, and scheduling software. Letting tools like Calendar manage your meetings or send reminders can free up time to focus on more critical tasks. These tools can even help you stay organized by syncing appointments and reminders across your team. 6. Take Breaks to Recharge It may seem counterintuitive, but taking regular breaks actually increases efficiency. Taking short breaks here and there can help clear your mind and increase productivity. Even if it's something as short as a 5-minute walk, breaks give your brain a chance to reset and come back to work with renewed energy. Using tools like Pomodoro timers can help you structure your workday by focusing for 25 minutes at a time and then taking a 5-minute break. 7. End the Day with Reflection At the end of each workday, take a few minutes to reflect on what you achieved and what you can improve for the next day. Tracking your progress will help you realize where you're succeeding and where you need to adjust your strategies. This reflection not only enables you to learn from each day but also ensures your workdays become more efficient. Scheduling Tools and Efficiency Scheduling tools are key to efficiency. Calendar apps, such as Calendar, Google Calendar, and Microsoft Calendar, help you stay organized and visualize your daily schedule. These tools eliminate manual tracking and reduce the chance of forgetting important tasks or meetings. With any of these tools, you can plan your day more effectively and ensure you allocate time to high-priority activities. They also allow you to collaborate with your team, making team scheduling much easier. How Will You Make Your Workflow More Efficient? Efficiency is not a one-size-fits-all solution. It's about finding what works for you and committing to continuous improvement. If you eliminate time-wasting habits and use a calendar to optimize your daily schedule, you can make every workday count. When you focus on efficiency, you not only increase your productivity but also enhance your job satisfaction and set yourself up for long-term success. So, start making small changes today and watch your workdays become more productive and meaningful. Featured Image Credit: Photo by Kampus Production; Pexels The post Why Efficiency Matters and How to Make Every Workday Count appeared first on Calendar.
Forbes
6 days ago
- Entertainment
- Forbes
NYT ‘Connections' Hints For Thursday, May 29: Clues And Answers For Today's Game
Each day's game of NYT Connections goes live at midnight local time. As such, 'today's Connections hints and answers' depend on where you are in the world. In case you need them, here are the Connections hints and answers for Wednesday: Hey there, Connectors! I hope you're having a terrific week so far. Spending my time intentionally, or failing to do so as much as I'd like, has been an issue for me for quite some time. It's something that's come more into focus for me recently after starting my newsletter which, (very) broadly speaking, is about how we spend our time. The bulk of my time is mine to spend as I see fit and yet I am constantly frustrated with myself that so many evenings and weekends slip by into the ether. I look at the clock after I wrap up work for the day and suddenly two or three more hours have vanished. I don't necessarily need to spend my time productively, but it at least needs to be edifying. Countless hours of scrolling social media feeds on my phone certainly accounts for much of that lost time. In a moment of frustration this week, I deleted Instagram and logged out of other services I was using via a browser, namely X (which I only still keep an eye on for work), Facebook, Reddit and BlueSky. That's after turning off email notifications at night and disabling Gmail and Discord notifications on my smartwatch. These are a small step that won't necessarily solve my problems. But as I open up the websites I've logged out of, returning to them purely out of habit, I see that I'm logged out. That's a useful reminder that I should do something more satisfying with my time. Before we begin, we have a great little community on Discord, where we chat about NYT Connections, the rest of the NYT games and all kinds of other stuff. Everyone who has joined has been lovely. It's a fun hangout spot, and you're more than welcome to hang out with us. Discord is also the best way to give me any feedback about the column, especially on the rare (or not-so-rare) occasions that I mess something up. I don't look at the comments or Twitter much. You can also read my weekend editions of this column at my new newsletter, Pastimes. Today's NYT Connections hints and answers for Thursday, May 29 are coming right up. Connections is a free, popular New York Times daily word game. You get a new puzzle at midnight every day. You can play on the NYT's website or Games app. You're presented with a grid of 16 words. Your task is to arrange them into four groups of four by figuring out the links between them. The groups could be things like items you can click, names for research study participants or words preceded by a body part. There's only one solution for each puzzle, and you'll need to be careful when it comes to words that might fit into more than one category. You can shuffle the words to perhaps help you see links between them. Each group is color coded. The yellow group is usually the easiest to figure out, blue and green fall in the middle, and the purple group is usually the most difficult one. The purple group often involves wordplay. Select four words you think go together and press Submit. If you make a guess and you're incorrect, you'll lose a life. If you're close to having a correct group, you might see a message telling you that you're one word away from getting it right, but you'll still need to figure out which one to swap. If you make four mistakes, it's game over. Let's make sure that doesn't happen with the help of some hints, and, if you're really struggling, today's Connections answers. As with Wordle and other similar games, it's easy to share results with your friends on social media and group chats. If you have an NYT All Access or Games subscription, you can access the publication's Connections archive. This includes every previous game of Connections, so you can go back and play any of those that you have missed. Aside from the first 60 games or so, you should be able to find my hints via Google if you need them! Just click here and add the date of the game for which you need clues or the answers to the search query. FEATURED | Frase ByForbes™ Unscramble The Anagram To Reveal The Phrase Pinpoint By Linkedin Guess The Category Queens By Linkedin Crown Each Region Crossclimb By Linkedin Unlock A Trivia Ladder Scroll slowly! Just after the hints for each of today's Connections groups, I'll reveal what the groups are without immediately telling you which words go into them. Today's 16 words are... And the hints for today's Connections groups are: Need some extra help? Be warned: we're starting to get into spoiler territory. Today's Connections groups are... Spoiler alert! Don't scroll any further down the page until you're ready to find out today's Connections answers. This is your final warning! Today's Connections answers are... That's a 93rd win in a row thanks to a perfect game. Just one week away from the 100. Eek! Here's how I fared: 🟩🟩🟩🟩 🟦🟦🟦🟦 🟪🟪🟪🟪 🟨🟨🟨🟨 This was one of those days when I saw pretty much everything at once. APT was the entry point into the greens, while FROST and GLAZE made the blues pretty clear. I clocked the yellows right off the bat too. However, I slid through the purples first. That one wasn't difficult to figure out either, though I didn't immediately equate NUDE with buff. It took me a moment to remember that "in the buff" can mean "nude." That's all there is to it for today's Connections clues and answers. Be sure to check my blog tomorrow for hints and the solution for Friday's game if you need them. P.S. I like mashups, pro wrestling and Taylor Swift, so this song was right up my alley. It also fits in with our ska punk theme week. I first came across this track about a decade ago. It blends the super catchy ska punk theme song of WWE wrestler Sami Zayn with "We Are Never Getting Back Together" by Taylor Swift. This works remarkably well. In the back of my mind, I've been thinking for years about getting a band (including a brass section) together to cover this. It's so much fun: Have a great day! Stay hydrated! Call someone you love! Please follow my blog for more coverage of NYT Connections and other word games, and even some video game news, insights and analysis. It helps me out a lot! Sharing this column with other people who play Connections would be appreciated too. You can also read my weekend editions of this column at my newsletter, Pastimes.
Harvard Business Review
7 days ago
- Business
- Harvard Business Review
How CEOs Should Manage Their Time
Time is a CEO's most precious—and most limited—resource. And yet a study of 30 CEOs revealed surprising gaps between where leaders think they spend their time and where they actually do. Precious little time was devoted to customers or frontline employees, and far more to meetings, investors, and board members.
