Tick-Tock

Time is a resource constantly moving forward and can easily be wasted. Time can be treasured and misused, respected and ignored. It is one of our most valuable resources, as once it’s gone, it can never be regained and often leads to regret if not used wisely. When we are young, we often wish for time to pass faster, but as we age, we long for it to slow down. The ticking of time is barely noticeable to a ten-year-old, but it can be deafening to someone in their sixties. Regardless of age, we all hope to use our time better.
Time is also a valuable resource for companies but is often wasted. Everyone from the CEO to the receptionist can misuse it, which affects productivity and profitability. Have you ever attended a meeting and wished you could return that time? Or have you spent time figuring out what to do because of unclear instructions or work processes? Or have you walked through the staff area and observed many doodling on their cell phones, not working? Time is wasted even more when the company has no clear vision, purpose, or direction, and the employees are not emotionally invested in the products and services they deliver.
Today’s work environment is bombarded with information, much unfiltered and of little relevance to the work at hand. CEOs must be able to filter the noise from the actionable intelligence and then prioritize what requires their attention. A well-known time management tool attributed to President Dwight Eisenhower is the Eisenhower Principle. It measures task importance against task urgency and creates four classifications that sort the tasks.
Important and urgent tasks require immediate attention and must not be delegated or dispensed. For example, the CEO must lead the way if the company is in a crisis. Important and not urgent tasks require attention, must be scheduled, and cannot be delegated or dispensed. For example, the CEO is considering a significant acquisition and is scheduling the due diligence reviews. Unimportant and urgent tasks must be delegated and cannot be dispensed. For example, the CEO delegates the authority to her COO to chair the monthly P&L review. Finally, unimportant and not urgent tasks must be dispensed. These are distractions that consume the CEO’s time and must be ignored.
Several commercial, off-the-shelf management operating systems warrant the investment and will benefit the company by managing time and clarifying goals, objectives, milestones, and accountability. However, any system you employ must create efficiencies and enhance effectiveness and productivity, or it, too, may become a time-consuming and imprudent investment.
Treating time as a critical resource and managing it accordingly is one way to optimize productivity. Teaching and coaching others on managing their time produces a thriving organizational climate, which is critical to your company’s long-term health and sustainability! So, when you hear the tick-tock of the clock, knowing time marches on, make the best use of it by focusing on the important tasks and delegating or dispensing with the unimportant ones!
COL Paul A. Raggio (Ret), the owner of Five Star Leader Development, is a fractional CEO/COO who develops C-Suite executives, business owners, and their management teams on leadership, management principles, and best business practices. Contact him to achieve exceptional results in your company! His email address is paul@fivestarleaderdevelopment.com, and his phone number is (252) 571-7368. Visit his website at https://www.fivestarleaderdevelopment.com.