Time management a problem for bosses too

Research has found that chief executives all around the world are finding it hard to manage their time with the many responsibilities on their plate.

According to the report by McKinsey and Co, only 52% of C-level executives felt that they were spending time in a way that matched their companies’ strategic priorities, reported the Wall Street Journal.

Responses regarding satisfaction with time utilised at work were more varied: 32% reported that they were somewhat or very dissatisfied, 48% somewhat satisfied, and nine percent highly satisfied. The rest either reported that they were neither satisfied nor dissatisfied, or that they did not know how they felt.

This is relevant to how time management methods are a crucial yet often overlooked concern at many companies, says Aaron De Smet, a principal at McKinsey’s Houston office and co-author of the report. Executives are not conscious of how they spend their time, and many companies do not provide guidance in time management, De Smet further commented.

To solve this, De Smet argues that companies need to address time management as an organisational initiative. “Time budgets” for certain projects and tasks should be set, and limit the number of new initiatives introduced, as it could overwhelm executives, he says.

The report gathered survey responses from nearly 1,400 senior executives and was conducted in late 2011. It polled executives from a mix of public and private companies around the world.