Wasting Time

Lately I have become aware of how much I get annoyed at having others waste my time. For example when I fill up with gas I pay at the pump. I think going inside to stand in line behind someone purchasing lotto tickets wasting time includes standing in lineis a total waste of my time. You can imagine how choked I get when I have to go inside to collect my receipt. Another time waster for me is meetings that don’t start on time. This is wasting time for a number of people and in my world that is totally unacceptable.  Turn that around and to the contrary I am ok if a friend is late for a scheduled visit (it doesn’t happen very often as I have a reputation I’m afraid). This is because I carry a note-book with a couple of things listed in it that I need to accomplish so I am prepared for that gift of extra time. It all comes down to managing expectations. How well do you manage yours?

Now here is something that is a little controversial – pay your great people slightly more than the market dictates. According to a study conducted by the Nobel Prize in Economics winner George Akerlof and his wife Janet Yellen; Paying great people slightly more than the market demands helps attract bet­ter talent, reduce turnover, and boost productivity and morale. They found that the firms that paid their employees more rather than construct elaborate incentive systems, outperformed their competitors. I just want to add this note from Daniel Pink: ‘Policy makers and business leaders take note: money matters. But often the best use of money as a mo­tivator is to pay people enough to take the issue of money off the table—so that people can focus on the work rather than on the cash.’

Let’s take this one step further and have a look at paying people commission. Both in the UK and in the US some companies have found that commissioned sales were not leading to better performance. In fact according to one company ‘By their very nature, individual commissions discourage collabo­ration. Why help ‘Mary’ close the deal when she’ll get the gains from the sale? The comp plan was dividing people.’ When the companies changed the system the managers, instead of spending a huge amount of time and effort policing the compensation system, could focus on more productive activities. Collaboration and better team work were also benefits.

Productivity is a measure of how much – work, time, effort, money, or energy – you have to put into something to get the desired outcome. For more tips and tools on how to get more productive please visit Blue Collar Consulting Inc. at http://www.bluecollarconsulting.ca/.

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About Janet, doing it better.

I grew up and still reside in Northern Alberta. While I have numerous interests I am passionate about the Peace River region, its innovation, its people, and the creative spirit that envelopes us all.

Posted on February 8, 2012, in Business Productivity, employee performance, meeting productivity, performance management, productivity, productivity tools, time management and tagged , , , , . Bookmark the permalink. Leave a comment.

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