In order for companies to remain competitive and profitable, they need effective managers. Managers are responsible for executing the organization’s plans. Effective managers must be able to immediately identify issues, risks, work with senior management to develop and execute feasible and timely solutions through the proper cross-functional management channels.
Due to increasing demands in the industry and even within organizations, managers often have responsibilities for the entire picture: short, medium and long term business projects. However, there are often limitations (such as staffing, system constraints, etc) that prevent managers from being effective.
As a result, managers spend a higher percentage of their time on data analysis and report creation rather than on analyzing reports for effective decision making.
A survey of managers working in consumer products companies highlights where managers spend the largest percentage of their time during the month.
Major Monthly Ongoing Business Activities for a Manager Level….
On average, the manager spends 28% of their time on reporting and only 12% on analysis for identifying issues/next steps. In conclusion, how effective is the 20% that managers spend in meetings?
How can Managers Become More Effective within their Organizations?
The survey indicated that by reducing the amount of time spent on gathering data and preparing/updating reports, time can be spent more effectively on:
- Analyzing professional and well-organized reports, drawing conclusions and developing plans which can then be presented to team members for evaluation and action. This step saves valuable time spent in meetings reviewing preliminary reports rather than moving forward with decisions, which leads to additional meetings and follow up. It is all in the preparation.
- Developing direct reports, career training, travel to different business sites, etc.
The ideal activity split for an effective manager is depicted below:
By spending less time gathering data, updating existing reports and creating new reports, it allows managers to utilize their time more effectively to focus and grow their business.