Time Management and Productivity Techniques to Maximize Efficiency
Out of an eight-hour day, how much of that time is spent being productive? It’s been found that the average employee spends about 2 hours and 53 minutes a day being efficient. The rest of the day? It’s a missed opportunity. But with the right techniques, you can recuperate the 69% of the day that would otherwise be wasted.
How?
Start with prioritization.
Prioritization Techniques
Efficiency begins with your ability to prioritize tasks. If you don’t focus on the right tasks, you’ll end up putting off the most taxing ones until the end of the day, when you’ll make them drag out. I recommend that you consider two main methods:
- Eisenhower Box: Simple, easy and a great way to be productive. You can use this “box” to be more productive. President Eisenhower created a box based on importance with four main squares: do, decide, delegate and delete. And if you keep going through the box, it will prioritize the right tasks and eliminate the unnecessary ones.
- ABCDE Method: The ABCDE method labels tasks in order: A is a must-do, B is a should-do, C is nice to do, D is a task that you should delegate and E is a task that you’ll want to eliminate.
Once you have the proper prioritization methods in place, you’ll want to consider your tech stack and the software that should be making your life easier.
Adopting Efficient Accounting Software
Repetitive tasks take so long to complete because no one wants to do them. Even if you’re one of the accountants who can work through these tasks quickly, there is a better way. Software allows accountants to:
- Automate tasks that are repetitive
- Reduce the number of errors they make
- Save time
Cloud solutions are an opportunity for efficiency because they empower teams to collaborate in new, exciting ways. For example, teams can work together from across offices, and employees can easily work remotely because they can log into cloud platforms from anywhere.
Incorporating the right accounting software is an instant efficiency booster that all accounting departments should consider.
Time Blocking and Scheduling
You know yourself better than anyone else. If you don’t think you can keep on task even if you follow the suggestions above, you may do better with block scheduling. You can add this technique at any time to:
- Dedicate specific blocks to tasks
- Allocate certain hours to tasks
Blocking works well because it allows you to minimize distractions and focus on one singular task at a time. For example, you may focus on clearing out emails between 9 am and 10 am. Then, you can dedicate a three-hour chunk to time-sensitive tasks.
You can use time chunking in your day-to-day schedule.
If you need a smaller chunking model, the Pomodoro method works on 25-minute chunks, followed by a five-minute break and then a longer break after four chunks have been completed.
Use Delegation and Team Management to Improve Efficiency
Smart delegation can make your team more efficient and productive while allowing more time to focus on high-value tasks. But it’s important to choose the right people for each job. Focus on delegating tasks based on each team member’s strengths and skill sets.
When your team prioritizes tasks that they excel in, work moves along more smoothly and with fewer hangups along the way. At the same time, you gain more time to focus on more critical tasks.
Far too often, busy accountants pile their plates too high, and their productivity suffers as a result. Adopting the “Who Not How” growth mindset and mastering the art of delegation will allow you to get more done because you’re spreading the workload around.
What if there are services that your clients want and need but your team doesn’t have the right skills for the job? Consider offloading the work to a third-party provider, like FFP, to provide these services without overburdening yourself or your team.
Practice Mindfulness and Stress Management Techniques
Stress can wreak havoc on your health, but it can also affect your productivity. Prioritizing stress management and mindfulness practices, like meditation, can help you stay focused and efficient at work.
In fact, one study found that productivity increased by 120% after incorporating meditation practices into the workplace.
Taking short meditation breaks is a great place to start if you want to practice mindfulness and get stress under control. You can also try:
- Breathing exercises
- Brief office yoga sessions
- Walking meditation
Stress makes it difficult to perform at your best and can easily zap your energy. Taking a proactive approach to stress management can help you stay refreshed and on point throughout the day.
Put These Strategies Into Action
Integrating these productivity tips into your schedule will allow you to focus more on time-sensitive, high-value tasks and less on low-value tasks. You can be productive for more than three hours per day, and it all starts with an effort to maximize your efficiency.
Joseph Graziano
Joseph Graziano, CFP®
The Vice President and Wealth Management Partner at FFP Wealth Management. Through FFP management, Joe and his team help manage over 2.4 billion in assets. FFP Wealth Management has served the unique needs of the accounting community for over 28 years and was formed out of dire need for accountants and financial planners to join forces in providing premium services to their clients. To learn more, schedule a discovery call with FFP Advisors Joseph Graziano today.