Many companies view time management training as something that they will spend their money on, only if they absolutely have to. Usually when pruning the company or department budget, training is often the first area to take the hit. And yet can you really afford not to?

Here’s what Dr. Donald Wetmore an American Time Management Specialist says:

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 jeopardize an company’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 Band-Aid for the training requirements.

A person being paid $50,000 per year who is wasting just one hour per day is costs $6,250 per year. If, by getting some time management training, that person can learn how to recapture just one hour per day, that translates into a payback of $6,250 per year!  For a group of 25 people, the savings on that is $156,250 per year! That doesn’t even include other benefits like improved profitability, reduced turnover, greater motivation, enhanced teamwork, greater creativity etc.)  Over 5 years, the accumulated payback is $781,250. What would you invest in to achieve that return and payback?

Not so many years ago, time management training wasn’t an option for most companies. Today, it is mandatory. If we don’t constantly improve, 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 prioritize training within their organization, realizing that 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 endeavor. It has to be ongoing. Life changes constantly and so do our needs and those of our people, the #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.

Lorraine Pirihi is Australia’s Personal Productivity Specialist and Leading Life Coach. Her business The Office Organizer specializes in showing small business owners and managers, how to get organized 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!”