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Can you put a price on time?

As the saying goes, time waits for nobody. As a commodity it is more precious than any resource and more valuable than any currency. As we find ourselves once more battling with the claustrophobic parameters of this pandemic, how we value and use it has never been more pertinent.

We’re almost 12-months on from when the world became aware of COVID-19. It’s a period that has simultaneously flown by as it has dragged, if such a thing is even possible. It has put pressure on people and businesses like never before but, in doing so, has also forced us to evaluate how we use the time that is given to us.

Maximising the 1440

We’re not only more aware of how much time we were wasting - does anybody miss the commute or unnecessary meetings? But also highlighted how we can better use the time we have available to us to make our lives better. And in an ever changing world, being able to decide what we do with those precious 1440 minutes every day should remain a constant. Even when we return to workplaces and offices.

This is because, for all the magnificent advances we have seen in productivity, the workplace remains riddled with inefficiencies. A recent survey found the average knowledge worker spends about 60 per cent of their time on mundane duties that add little real value, rather than focusing on meaningful activities to inspire and energise them. Indeed, over the course of a year, workers spend 103 hours in unnecessary meetings, which comprise 61 per cent of the total. A further 209 hours are lost on duplicated work and another 352 on discussing tasks.

Tick following tock 

Thankfully, the Covid-19 pandemic has led to more and more businesses committing to speeding up their digital transformation plans - and the major casualty of this will be wasted time. This is largely driven from the fact that businesses need to become leaner and more efficient to maintain growth and, in some instances, to survive. Adopting automation is vital to this process helping to drive down costs, increase efficiency, and improve both customer and employee satisfaction. 

According to the International Federation of Robotics, nearly 70% of workers believe automation will bring opportunities to qualify for higher skilled work. Elsewhere, Gartner Predicts 69% of routine work currently done by managers will be fully automated by 2024. And while automation is as inevitable as tick following tock, to make the most of this change and to derive the real benefit that will free people's mind, body and spirit how these evolutions are orchestrated is critical.

A little time….

When it comes to time, the majority don’t want to revert to type - rushing from place to place and wishing there was more time to keep for our new found appreciation for a better working environment, family, friends or hobbies. So we’re at an inflection point where the return to work can be reflective of the technology and environment we have all been exposed to. 

With the right tools, businesses can give the greatest gift back to their employees and also future-proof their processes and procedures and improve the bottom line. It’s a scenario that benefits everybody. After all, we could all use a little more time.

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