How much is your time worth?
That’s the question asked in articles on value of time and it can even be calculated with the Worth Calculator.
What is this “Value/Time” in the title?
It seemed the easiest way to get across multiple meanings:
- The equation of Value ÷ Time (e.g. 1 of 3 = 1/3, therefore Value of Time)
- Intrinsically connecting both Value Management and Time Management
After writing about working with my boss on PowerPoint presentations in my last post, I started noticing instances where I was, consciously or unconsciously, making decisions and adjustments based on value of time.
It is an indisputable fact that her time is more valuable than mine. It is plainly written on our pay stubs and in our titles. I can, quite literally, show you a figure (private) that represents my hourly worth while at work. You can also estimate the difference in our worth by the titles (public) of our positions. I have no illusion that everyone’s time is of equal worth while at work. We are called “Support Staff” for a reason. Of course, this works both ways: “Above my pay grade” is a useful phrase.
After many years of being short-staffed, and with an impatience to get things finished and move on to the next thing, she will often try to do everything. In the beginning, it was only out of being frustrated with something for an extended period that she would hand something off. It’s taken a long time to get her to delegate to the growing staff, myself included. We also had to be proactive and take things off of her plate.
With the growing staff, I find myself assisting and managing everyone (don’t think I don’t see the similarities with above). If I have something at-hand, or can easily finish a part of a project, I will do so to free-up their time. It’s frustrating for me to see someone try to reinvent something that already exists, or not ask for help.
“Don’t go searching for that, Eric knows where it is and can send it to you.”
Part of this aversion to asking for assistance is likely fear that one will seem helpless or incapable. Today, an office mate (of higher value rate) was searching for a letterhead template (she was in the file where it was, but didn’t know which one to use because there were several versions). She may have been looking for this for several minutes (at a rate of 2.5x the cost per minute vs. me looking for it) before saying anything. A 5 minute conversation that included her, my boss, and myself (exponentially more expensive minutes now) ensued with her not explaining what the letterhead was for (just ‘important’) and ended with her saying “I just won’t work on this then, since Eric is working on something else right now.” Since this would cost even more money (work not being done), I immediately walked back to my desk and emailed her 2 versions.
10 minutes talking without communicating = $~1650.00 cumulative value/time wasted.
Do you know what I could do with $1650? Besides the money, do you know what all three of us could have gotten done in the 10 (30 combined) minutes wasted? This is about more than efficiency, though that plays a huge role.
What about Value/Time outside of work?
It’s my personal opinion that Vacation time (no matter what you do with it), is worth more than any other time. Then, in a descending scale: Weekends, Holidays, work hours, evening waking hours, and finally sleeping hours. Unlike the work hours, though, I feel everyone has the same value for time outside of work.
However, the argument could be made that Work and Vacation hours are equal, since they are often part of the whole compensation package, but that’s not worth my time to get into…
What are your thoughts on Value/Time Management? I’d love to hear your comments.
![IMG_0638 [940240]](https://smallstuffweb.com/wp-content/uploads/2016/08/img_0638-940240.jpg?w=1200)