Top 10 Business Time-Wasters for Decision Makers

April 5, 2021

  •  Natalie Breymeyer
Reading Time: 3 minutes

In every industry, for every position there is inevitable time that gets wasted which typically leads to missed opportunities, lost sales and low efficiency scores.

Business leaders and decision makers need to make the most of their time everyday and below are some of most common points below are surely points which everyone can relate to.  Recognizing these common time wasters, and then finding solutions to them can be the first step in reclaiming some of this efficiency:

  1. Too many meetings
    Executives spend an average of 29 hours per week in meetings, which on an average CEO salary results in $2,091 a week spent on meetings. Nearly three-quarters of executives said they think meetings are unproductive and inefficient and more than 60% said meetings keep them from completing their own work. Generally, about half of people complained meetings wasted their time the most at work. The time spent in meetings has been rising 8% to 10% annually since 2000 – in the U.S., approximately 55 million meetings happen every day. Since the pandemic, the number of meetings has increased by almost 13% on average.

  2. Distractions during the day – (meetings, calls, messaging, emails….)
    Business leaders spend an average of more than 20 hours a week engaged in low-value tasks, including emails, interruptions, requests from coworkers and putting out “preventable fires.”

  3. Clickbait and headlines that seem important but really are not
    The prevalence of clickbait has grown to the point where 25.27% of headlines were clickbait in 2016, up more than 5% since 2014. A study defined clickbait as a “form of web content that employs writing formulas and linguistic techniques in headlines to trick readers into clicking links, but does not deliver on promises.”

  4. Too much multitasking
    When tasks require the same or similar cognitive function from one area in the brain, difficulty in doing the same tasks simultaneously can occur. A  neuroscience-based coach explained that multitasking can stifle a productive flow of resources and energy and to instead reprioritize tasks that compete for the same brain system resources in a way that can be completed fully before moving to the next.

  5. Malfunctioning platforms and failing systems
    Temporary interruptions for popular online services like Slack and Gmail are being felt more as employees turn to cloud services and other connected platforms to help them work remotely and stay connected during the coronavirus pandemic. However, these platforms can also adversely affect productivity. A Slack outage in 2018 saw productivity go up compared to the previous week when Slack was functioning, indicating that a constant stream of messages while trying to focus on one task can be challenging.

  6. Going forward with no plan
    Employees spend an average of 25% of their time searching for information. Within a typical company, employees need to navigate four or more applications to execute a single business process, which entails finding and managing multiple passwords and interfaces. With the pandemic, more companies are planning for a hybrid future, where employees have the option to work both from home and the office.

  7. Going forward with wrong information
    Company executives agree that good access to information is the basis for improved decision-making. However, a study found that more than three-quarters of executives considered information to be “mission critical” and their company’s most important asset, yet only 60% felt that time constraints and lack of understanding of how to find information were preventing their employees from finding the information they needed. Employees spend an average of over 9 hours a week searching and gathering information.

  8. Content rabbit holes
    Data professionals waste on average 30% of their time because they cannot find, protect or prepare data. This totals out to 14 hours per week. Additionally, these professionals are spending more of their time governing, searching and preparing data than they are extracting value.

  9. Changing priorities / attending to a crisis
    When the pandemic hit, 49% of businesses surveyed were not prepared to transition to remote work and 39% were not even using technology that supported working from home. When a crisis strikes, the best-prepared organizations will be able to quickly focus on the capacities most critical to their core business or function, then identify the interdependencies between those processes and all the IT services associated with the delivery of them.

  10. Exhaustion
    A new survey found that nearly 90% of respondents in more than 40 countries felt that their work lives were getting worse during the pandemic and more than 60% felt that they were experiencing burnout often or very often. In 2019, the World Health Organization brought attention to the issue by defining burnout as a syndrome associated with chronic stress at work that goes unmanaged. Burnout can be a risk factor for depression and substance abuse, and can also be contagious and often affects entire workplaces.

    Turbine Labs solutions can be used for saving time and creating efficiencies amongst team members and business lines. Consider taking just 15 minutes to schedule time with a specialist at Turbine Labs to understand how our services may help you.  Schedule an assessment here 

 

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