Finance Articles

Time Management Training - A Necessary Investment or A Waste Of Money?

Many organisations view time management training as something they'll spend their money on, only if they have to. Usually when pruning the company or department budget, training is often the first area that gets the chop. And yet can you really afford not to?

Here's what Dr. Donald Wetmore a Time Management Specialist from the U.S. recently said in the on-line e-zine Activepro...

Training is not a cost it's an investment

'It really doesn't matter what we pay for an investment. What's relevant is what we get in return. One of the best ways to jeopardise an organisation's future in today's world and increase the probability of troubled times it to look at training as a cost and pay the price of not training or provide substandard training that operates only as a bandaid for the training requirements.

A person being paid $50,000 per year who is wasting just one hour per day is costing the organisation $6,250 per year. If through one of our Time Management Seminars that person can learn how to recapture just one hour per day, that translates into a payback to the organisation of $6,250 per year!

If there is a group of 25 people, the return to the organisation is $156,250 per year! That doesn't even include other benefits like profitability, reduced turnover, improved morale, enhanced teamwork, greater creativity etc.)

Over 5 years, the payback is $781,250. What would your organisation invest to achieve that return and payback?

Not so many years ago, training was an option for most organisations. Today it is no longer an option. If any of us continue to do what we do the same way, within five years most of us will become obsolete. Why? Because our competitors are helping their people to become more effective through training.

If we look closely at companies who are doing well in the long run, they almost always have a well thought out training program in place

They realise the price for not training is the real expense of training'.

The most important training or knowledge enhancement you can offer to your employees is in the personal development area. Effective time management is a life skill which affects us all. Depending on how skilful we are at managing our time it can have a major impact on the whole of our life. Our skill levels in this area can greatly benefit us or cause us to be constantly stressed out.

Training is a life long endeavour. It has to be ongoing. Life changes constantly and so do our needs and those of our people, the no. 1 asset in every business. Time Management training is crucial for it's when we learn to use our time effectively that we get so much more done in our lives.

Have a great week!

Lorraine Pirihi

About The Author

Lorraine Pirihi is Australia's Personal Productivity Specialist and Leading Life Coach. Her business The Office Organiser specialises in showing small business owners and managers, how to get organised at work so they can have a life! Lorraine is also a dynamic speaker and has produced many products including "How to Survive and Thrive at Work!"

To subscribe to her free ezine visit http://www.office-organiser.com.au

This article may be reproduced providing it is published in it's entirety, including the author's bio and all links. For further information please contact Lorraine Pirihi; lorraine@office-organiser.com.au

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