How do we use the Currency of Time?
There is no one definitive answer to this question, as people's views on time vary greatly. However, many people believe that time is valuable because it allows for the passage of generations and for humans to experience new experiences. Some may also consider money to be an associated value with time, since it can be used in order to purchase goods or services that allow someone to live a comfortable life. Ultimately, each person has their own perspective on what they deem important when it comes down to Time and Money - so there isn't really any one right answer!
If there's only one thing we can measure in this context (time), then it is arguably the most valuable. The global tightening of monetary policy has shown that cash isn't actually finite - it can be created through difficult decisions to "print/create more," but this devalues the unit of measurement. So, if cash can be created, the more you produce, the less value it has. Time can be said to exist in a physical sense, however it cannot be created or destroyed. In terms of variables associated with time, context is key. For instance, if we consider manpower outsourcing as an example, certain aspects such as deadlines and staffing levels would need to be taken into account in order to ensure success.
At TASC, we work with some of the biggest multinationals in the world. They all have one thing in common: they need our help to move quickly and get new ideas into production as soon as possible. That’s because their resources – money, people, equipment – are needed for the most important purpose at these companies, creating more value for shareholders.
For 15+ years now, TASC has been working hard to streamline our processes and automation so that things can happen much faster than ever before. This means that a clients’ employees can focus on more interesting and constructive tasks, instead of having to deal with tedious administration tasks. In addition to making things run smoother for our clients, this also allows us give them a quicker turnaround time on their projects - which is a time and cost saving exercise! The time spent on sourcing, educating and managing an employee is valued more by these companies. They recognize that their time would be better spent doing what they do, than processing documentation, briefing candidates, arranging interviews or stamping certificates and administration. However due to the workloads being at an all-time high and the need for more resources has not become a ‘real’ solution for the masses yet.
Question: Do people generally place a high value on time in their professional lives as they do in their personal lives? Hypothesis, if we placed the same value on time in our professional lives as we do in our personal lives, we would almost certainly outsource laborious tasks. Reasoning behind this hypothesis is that people generally agree that a household maid is worth the expense—in order to save time. To test this hypothesis, I interviewed numerous professionals about their views on outsourcing and how it compares to hiring contract workers for certain tasks. Results showed that while most people agreed outsourcing saved them valuable hours, there were various reasons why each individual chose one option over another.
The dilemma of working and managing a balanced life can seem daunting, but it’s definitely possible with the right approach. We all have different interests and desires, so finding time to enjoy everything we do is key. Over time, it becomes difficult to maintain that balance without help from outside sources - like hiring someone else to take care of tasks we could delegate or spend more time developing workplace policies that make employees happier. In this situation, our time really is worth something!
In today's world, where our reliance on services continues to grow, the relationship of value and time is becoming more important. We need to start valuing this resource and consider how we're spending it if we want to get productive in a hurry.
Two quotes that stood out to me and created the inspiration for this article.
“The main problem with this great obsession for saving time is very simple: you can’t save time. You can only spend it. But you can spend it wisely or foolishly.”
“Don’t be stomping on ants when you have elephants to feed.”
Outsourcing is our core; we breathe in and out this daily. With 15+ years of experience and knowledge, we will ensure you a compliant hiring and onboarding with local laws.
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