There are ways you can help your employees time management problems. At some point, we all struggle with time management. As a leader, though, it’s your responsibility to give your team a helping hand when this issue arises for them. But, can you help others better manage their time? Here are 12 simple ways you can help correct your employees’ time management problems.

1. Work with your team to set the right goals and priorities.

We’re putting in more hours per day — on average it’s 8.5 hours. And, that’s not taking into account the hours we put outside of the workplace — one study reported that 80% of Americans worked an additional 7 hours after hours. At the same time, we feel like we’re hardly getting anything done.

There can be several reasons for this. But, for many of us, it’s because we’re not focusing on our priorities. Instead, we’re wasting precious time on activities that aren’t all that important. But, it doesn’t have to be that for you and your employees.

Block out the time to discuss both individual and business goals with your team. Ideally, these should be daily, weekly, monthly, and annual goals that align with your organization’s mission. Not only will this give purpose and meaning to everyone’s work, but it also ensures that you and your employees are working on the right things at the appropriate time.

2. Help them resolve complex issues.

Do you have employees who are regularly missing deadlines? As just discussed, it may be because they’re devoting too much time to the wrong activities. However, they could be something more behind their time management struggles.

One way to get to the route of this problem is to recommend that they track their time for several weeks. They can use a time log or a time tracking tool like RescueTime or Toggl. This will let them see how they’re actually spending their, as well as how they’re wasting it. With this knowledge, they can set aside the proper amount of time to complete tasks and cut out time-wasting activities.

“Others say yes to too many things, and need help prioritizing what matters (being responsive to your biggest client) and letting go of what doesn’t (trying lots of different fonts on an internal PowerPoint to find the exact right one), writes Laura Vanderkam in a Fast Company article. “You can teach this person to make a short (three- to five-item) priority list for each day.” Vanderkam adds, this you should “go over this list together each day for a few days, and talk about which tasks matter most to you and the organization.”

3. Reduce workplace distractions to help employees’ time management problems.

It should come as no surprise that the workplace is full of distractions. Sometimes distractions aren’t all that bad. They can help ease pain, make us more resilient, and give our minds a much-deserved break.

Of course, when not put in check, distractions can absolutely destroy productivity. As a leader, you should identify the top workplace distractions so that you can squash them ASAP. Here are some of the leading culprits:

• Smartphone notifications. People check their phones a whooping every 12 minutes! You aren’t getting much done you’re glued to your phone. Recommend to your team that they either turn their devices off, put them on airplane mode, or use their operating system’s do not disturb feature.
• The internet. Suggest that everyone use a tool like StayFocusd or Strict Workflow. These will restrict access to distracting websites for specific periods.
• Gossiping and chatty co-workers. There’s nothing with a little social activity. But, do not permit employees from gossiping and encourage them to chat during productivity lulls.
• Hunger. Fill the workplace up with healthy and delicious snacks from companies like SnackNation.
• Clutter. Keep your workspace clean and organized, and encourage others to do the same.
• Meetings. Only schedule meetings that are necessary.
• Multitasking. Encourage everyone to complete one task at a time before moving on to the next.

4. Address “planning fallacy.”

This concept was developed by Daniel Kahneman and Amos Tversky in 1977. In a nutshell, the planning fallacy is not setting aside the right amount of time to complete a task or project — even if you know better based on past experiences. As a result, this can delay when you complete your work — which then will throw the rest of your schedule out-of-whack.

Jory MacKay writes on Inc.com that you can save your team from planning fallacy by:

• Having them take into consideration the amount of time need to conduct research or working with others.
• Being realistic “about how long a milestone will take to achieve.”
• Knowing if they can be held accountable to meet timelines.

S.J. Scott from DevelopGoodHabits.com also suggests that you use time-motion words instead of ego-motion words when giving instructions. For example, use “You only have three hours to complete this assignment,” as opposed to “You still have three hours to complete this assignment.” This creates a sense of urgency.

5. Break projects into more manageable pieces.

“Break projects down into manageable pieces,” suggests Teressa Moore Griffin, founder and CEO of Spirit of Purpose. “The scale of projects can overwhelm employees if they have never learned how to break them down into manageable steps.” Remember when your team feels overwhelmed can lead to procrastination — this, in turn, results in missed deadlines.

“Instead of being disappointed that your direct report can’t work independently, understand why,” adds Moore Griffin. “If the issue is feeling overwhelmed by the size and complexity of a project, work with them to break the project down into its component parts.” You can get started by guiding them in identifying the steps to get from A to Z.

6. Create a culture of flexibility.

This is all about allowing your staff to work around their most productive hours. For example, early birds could arrive at work an hour or two before everyone else and then leave in the early afternoon. Then, those who aren’t early risers could come in later but work until the evening.

Another option would be letting employees work from home one or two days per week. This eliminates the time spent on their daily commutes. And, it gives them a chance to steer clear of workplace distractions.

Besides allowing your team to work during their golden hours, flexible schedules let them better manage their personal lives, partake in self-care, give them a sense of autonomy, and work on passion projects. Not only will this make them happy and more productive, but it will also help you attract and retain top talent.

7. Evaluate the effectiveness of meetings.

Meetings are more than just a distraction. They can also kill morale and productivity. Mainly this is because you’re pulling people away from more important work to sit in a dull and pointless meeting.

Before planning a meeting, ask yourself if it’s really necessary. You may discover that whatever needs to be covered could be handled through email or an alternative like collaboration apps, Wikis, or one-on-one chats.

If you must schedule a meeting, create an agenda, and share it with invitees. Also, only invite ket personal and keep the event as short as possible. And, plan around everyone’s peak productivity hours. For example, if everyone is most alert and focused in the A.M., then have the meeting in the afternoon during productivity slumps.

8. Don’t throw too much at them at once to help employees’ time management problems.

I’m well aware that you have a million things to get done. But, if your team is already at full capacity, what good would it be to add more items to their already packed plate? After all, this will make your peeps stressed, anxious, and feel completely overwhelmed. They may even focus on completing tasks that aren’t a top priority.

I don’t think that there’s anything wrong with making sure that your team has plenty of stuff to do. But don’t overdo it. Only assign items that deserve their attention right now and wait until they are finished before sending them more work.

9. Encourage them to fill out a time management calendar.

“When employees complete a time management worksheet, they sit down and seriously reflect on how they are currently spending their hours,” writes the Wrike Team. “From there, in collaboration with leadership and fellow teammates, they establish priorities and break projects down into manageable chunks.”

Furthermore, by using a time management calculator, “they gain the perspective to realize it sometimes might be best to let go of responding to emails for a few hours and concentrate on more pressing concerns.” And, this can also direct employees to areas where they may need additional training.

Getting started with a time management calendar is straightforward. First, use a calendar tool that everyone is already familiar with and integrates with other applications you commonly use. Next, encourage your team to block out specific periods in their calendar for undisturbed deep work. And, don’t forget to remind them to build in time for breaks and tasks like responding to emails, texts, and phone calls.

If you’re working on a project together, make sure that the calendar is shared. This way, everyone knows who is working on what and when deadlines must be met.

10. Play games.

Time management doesn’t have to be boring. In fact, you can even have some fun with it by playing games. On top of assisting with time management, this can be a great way to build comradery in the workplace.

One such game is, “How long is a minute?” Here everyone gathers in a room. Ask them to sit down, close their eyes, and then stand up when they think a minute has passed, for this to work though; clocks must be covered. It’s a simple way to demonstrate how we perceive time differently.

If you want to try out some different games, Hubworks has six other ones that you can play. Personally, I think “What I Did Yesterday” and “Circadian Rhythm” is the most useful

11. Provide time management training for time management problems.

Some believe that time management training doesn’t work. On the one hand, I can why this is true — particularly in regards to traditional techniques. But, I don’t think that means completely tossing this idea out the window.

Take, for example, a new hire you just graduated from college. It’s unlikely that they were ever taught some necessary time management skills, like how to prioritize, organize, and communicate. As a consequence, you might want to sign them up for a time management course or mentor them in techniques that you find to be effective.

Moreover, if they tried out one technique that didn’t work, then suggest they try another. I personally feel that improving your time management is a process. You have to keep tinkering around until you develop a system that works best for you. Remind your employees that and encourage them to keep trying out different methods.

12. Maintain a healthy balance.

Even if everyone within your organization has improved their time management skills, it’s all for naught if they’re always stressed and exhausted. Encourage everyone to take frequent breaks throughout the day and using their vacation days. Also, don’t contact your team members during their off-hours.

Remember, you must establish time-off schedules so that your employees can stay refreshed. What’s more, you also need to set an example yourself. Stop eating through lunch, go on a vacation, create a spontaneous holiday, and remind employees of the benefits of taking a breather from work.

How much time do you spend checking and responding to emails each day? How much time do you spend sorting through your inbox and trying to organize it? Being overwhelmed by emails can affect your productivity. Having the ability to manage your emails effectively can make you more efficient at work, or at home if you’re a freelancer. Here are several tips to help you effectively manage your email inbox better.

In a modern business environment, few tools are more prominent than your email.

Email offers the convenience of reaching people who you may not be able to contact by phone or other means. While this may be true, your professional email inbox may also provide a source of frustration in terms of management and organization.

Dedicate Time to Review Your Emails

When you procrastinate in opening and reviewing emails, they can accumulate in your inbox quickly. Once you find a window of opportunity to check out your emails, you may be overwhelmed by the large inbox waiting for you.

Instead of leaving your email system open, set aside a time of the day to go through them and respond to any important messages. Once you are done, you can turn off the email app until the next time you open your messages.

I typically like to check my emails 3 times per day – once in the morning, once around lunchtime, and once more before I log off for the day. It took a while to get to this point because I’m a recovering email addict. However, I found that batching up this task helps consolidate the overall effort and save time. Plus, I still feel in control of my inbox.

Create Automatic Replies

An email reply does not always have to be a message you spend several minutes to craft. There are too many messages throughout the day to spend adequate time responding to each one individually. If you can develop pre-written templates to handle more mundane or residual emails, you can save a significant amount of time in managing your inbox.

The future of email management is automation – and delivering messages in as short a time as possible can make you a more valuable performer at your organization.

Consider setting up an automatic reply that can answer common questions or direct people to some next steps they can take. This may mean booking a call with you, checking out your resources page, or following another link to learn more info about your business. Receiving an instant response will help people feel like they’re getting helped ASAP and can even cut down on follow up emails.

Depending on your email service, you can often set a timeframe for how often you want to send automatic replies. For example, you can set it to only send the automatic email once per day for each person. That way, someone doesn’t have to get the same autoresponder if they’re emailing you back throughout the day.

Make Immediate Responses to Important Messages

An important email management practice is to respond to important messages quickly. If certain items can be handled immediately, then do not hold them for tomorrow. Otherwise, you may end up adding more to your email pile and things can only get more difficult the next day. Immediate action does not only mean responding to emails but deleting the non-important ones as well.

Browse through your inbox and take prompt action in marking unimportant messages for deletion. Narrowing down your inbox can further help you manage it and find more important messages to respond to. Even if you cannot respond to important messages adequately, you can still let the sender know that you have received their message and will follow-up with another message to address their inquiries.

Add Labels and Categories to Your Inbox

This is a trick I learned when I was working at a small start-up and I’ve adopted it for life. Many emails can be deleted, but there may be those messages which you may want to retain instead of removing completely. For example, there may be correspondences between employees, clients, and managers which may not be directly addressed to you, but are there for your knowledge and reference. If you are in line somewhere or waiting on hold on the phone — these are prime time moments to clear out some email.

These are messages to not only keep in your inbox but attach labels to in case you need to refer to them again. Most email programs allow you to organize your messages into separate categories. The more you improve your filing and organization, the easier it is to find specific emails when they are needed.

Unsubscribe from Promotions and Automated Messages

The volume of advertisements, promotions, and newsletters can quickly accumulate in your inbox and make it difficult to find important messages. This clutter can then be a detriment to your performance and efficiency on the job. You can easily cut down on these messages by unsubscribing from them.

Most promotional messages will present you with options to unsubscribe from them. In addition, you can filter your inbox by searching for emails with the word ‘unsubscribe’. Once you clear your inbox of unnecessary promotional messages, you will find it easier to manage. Make it a habit to audit your email inbox and unsubscribe from unwanted email lists regularly. Also, remember to back up your emails if necessary, especially if you will be out of wifi range.

Summary

Being efficient with email is crucial when it comes to measuring performance and productivity in your business. The clutter and distractions that come with modern work can prevent you from efficiently reviewing and managing your inbox.

With tips to help you effectively manage your email inbox better, you can make it easier to handle your emails and improve your work productivity. Start with some of these suggestions and you can get closer to having a clean email inbox to manage daily.

At some point, even the most relaxed and chilliest person experiences stress and anxiety. It’s just a part of life and can often be managed relatively. But, what about the nagging stress and anxiety that never leaves you alone? There is much written nowadays about stress and anxiety, and thankfully, stress is finally being mentioned in tech and entrepreneurship. Now, you even have permission to reduce your stress and anxiety.

This type of chronic stress shouldn’t be ignored as it can lead to serious effects on the body like:

• Headaches
• Muscle tension
• Fatigue
• Chest pain and heart disease
• High blood pressure
• Obesity
• Insomnia
• Upset stomach

Additionally, it negatively impacts your relationships, work performance, and productivity. In short, when not addressed, chronic stress and anxiety can be detrimental in all aspects of your life.

The good news is that you can reduce stress and anxiety by doing the following.

1. Identify Your Triggers

Before going much further, you first need to determine what’s causing you to struggle with stress and anxiety. After figuring this out, you can then look for solutions. For example, if a client is the main culprit, then you may want to fire them. Even though you may lose out on the income, is it worth more than your well-being?

You may even discover that you get stressed and anxious over things that you have no control over. In this case, you may want to take a deep breath and focus on what you can control and accept that this is entirely out of your hands.

In either case, jot down your worries and look for patterns. You may even realize that merely writing these feelings down makes you feel a little better.

2. Take Care of Your Body

You’re bound to hear this a million times. But, that’s because taking care of yourself is one of the easiest and most effective ways to calm yourself down.

Even if you don’t feel like it, make sure that you eat healthy at work and home, get plenty of sleep and be active daily. If time is a concern, there’s always time the day to go for a walk or stretch. The ley is to get moving so that you can release those endorphins.

3. Meditate

“Research suggests that daily meditation may alter the brain’s neural pathways, making you more resilient to stress,” psychologist Robbie Maller Hartman, Ph.D., told WebMD.

If you’re new to meditation, it’s not that hard. Simply sit up straight and have both feet on the floor. Next, close your eyes and focus on a positive mantra, such as “I feel at peace.” Then, using one hand on your belly, sync this mantra with your breaths. If something else pops into your mind, let it “float by like clouds.”

I would also suggest that you use essential oils or light candles during this time as well. Scents like lavender, jasmine, orange, and sandalwood can help decrease anxiety. Maybe you need to take a soak in a bubble bath with candles all around you. Take a moment to think and consider what’s best –, and you will likely be inspired by the correct path you should take.

4. Learn How to Self-Soothe

Whenever we are “faced with an anxiety-inducing situation, our body’s sympathetic nervous system automatically triggers physiological changes,” writes Jamie Long Psy.D. in Psychology Today. “Our breathing quickens, adrenaline is secreted, and our heart begins to race,” aka the fight or flight response.

This natural survival mechanism can come in handy during a life-threatening emergency. But, “when the threat is imagined (e.g., I’m going to bomb this presentation, and everyone will know I’m a fraud), the fight or flight response is unnecessary and very uncomfortable,” says Long.

The best way to resolve this is through self-soothing techniques like diaphragmatic breathing. You can also try positive self-talk and tightening and releasing your muscles.

5. Guided Imagery

“Guided imagery is like taking a short vacation in your mind,” explains Elizabeth Scott, MS. “It can involve taking a moment to imagine yourself being in your ‘happy place’ — maybe picturing yourself sitting on a beach, listening to the waves, smelling the ocean, and feeling the warm sand underneath you.”

Until you know how to do this thinking — or meditation — on your own, you can begin “with a recording where you listen to someone walk you through a peaceful scene.” Once you’ve got this down, all you have to do is shut your eyes and escape somewhere peaceful. During your journey, don’t forget to think “about all the sensory experiences you’d engage in and allow yourself to feel as though you’re really there.”

6. Take Control

It may not seem like it initially, but there is a solution to every problem. However, if you remain passive and don’t grab the bull by the horns, then nothing will change. I know this can be intimidating, but once you take control of your own actions, you’ll feel more empowered and confident. If you are working from home as a freelancer, here are a couple of ideas, and here are six tips for taking back control and performing better.

7. Do Something That You Enjoy

When you feel stressed and anxious, you should block out the time, even if it’s just 10 to 15 minutes, to do something that you enjoy. Tune into what you like to do, such as:

• Spending time with friends, family, and even your pets.
• Listening to your favorite music.
• Reading.
• Doing something creative like writing or drawing.
• Playing your favorite sport.
• Doing a hobby like gardening or sewing.
• Volunteering.

I’ve found that volunteering is the best way for me to reduce stress. Maybe it’s not the volunteering, per se, but somehow, being with others helps. You think higher thoughts, you feel good about yourself — you gain a better understanding of others — and you make a difference you can see.

8. Reassess Your To-Do-List

Take a real good look at your to-do-list. Is it daunting and full of non-essential items? If so, reorganize your list so that it only contains no more than your five top priorities for the day. With a great to-do list, you’re not wasting your time on unproductive activities. You’ll be able to see those actions that are helping you achieve your goals. As a result, you’ll be more likely to maintain a healthy work-life balance.

What if you can’t eliminate specific tedious tasks? See if these tasks can be automated or delegated to someone else. It may cost you a couple of bucks, but it will be money well spent.

9. Don’t Be a Cheapskate

Speaking of spending money, Calendar’s Max Palmer suggests that you know when to be frugal and when not to be cheap. For example, make sure that you set aside the appropriate amount of money in your budget for legal and insurance fees.

“In startups, Murphy’s Law will always come to bite you in the ‘you know what,’” adds Palmer. “What can go wrong, probably will.” So, to keep your mind at ease, “make sure you’re covered” by working with “a reliable legal counsel. And, “don’t skip out on shielding your business from potential liabilities.”

10. Schedule Time Off

I’m well aware that you have a business to run, and the last thing on your mind is taking time off. But, you’re not a machine. You need time to rest and recharge. Not only will this increase your productivity, but it will also help alleviate your stress and anxiety.

During your scheduled time off, which can be weeknights after six p.m., weekends, or scheduled vacations — make sure that you completely disconnect from work. To completely disconnect — think words like detaching, disengage (my favorite is, sever!). Whatever will mean (to you) not responding to work-related texts, emails, or Slack notifications. Sever, sever, sever.

Count on and depend that this is your time to unplug and enjoy life. Don’t feel guilty about it either. Okay, maybe like me, you’ll feel guilty — but you’ve earned it. A great truth I’ve learned is that the world won’t end if you’ve been off-the-grid for a couple of hours.

What do Amazon, Disney, Microsoft, Apple, Google, Hewlett-Packards, Spanx, and Under Armor all have in common? If you guessed that they’re all billion-dollar companies, you wouldn’t be wrong. But, the answer I was looking for was that they all began as a home business. Are you more productive working at home?

Thanks to technology, however, launching your own business from the comfort of your home has never been easier. As long as you’ve got an internet connection, there’s no need to spend money on a luxurious office space. I know that might make you feel legit and give your ego a nudge. But, when you’re on a tight budget, this shouldn’t be a priority. Besides, you can set up your own sweet home office that’s just as good as any other space that you would rent.

At the same time, not everyone is cut out to work from home. Does that mean you have to invest in an office? Not necessarily. There other alternatives like cafes. But, a better solution may be a coworking space. It gives you that office vibe without having to fork over a ton of money. And, it may even boost your productivity enough where you’ll have the funds to get your own workspace sooner than imagined.

While working from home or coworking space are both viable options, which one is the better choice when it comes to your productivity? Well, let’s explore the pros and cons of each to help you answer that question.

The Pros and Cons of Working From Home

Perhaps the most significant advantage of working from home is that there is zero commuting. That means not waking-up before the sunrises so that you can beat rush hour traffic. And, let’s not even talk about the stress and aggravation of getting stuck in traffic.

Instead, you can sleep in a little later. Or, if you really want to be productive, you can get a head start on your work. I’m a big fan of this option. The main reason being that if I start work around 7 A.M., I don’t have to worry about getting distracted from emails or phone calls because the workday hasn’t started for most people. Also, this is an excellent option for parents who can base their schedules around when their kids are in school.

Furthermore, you can wear whatever you like, create a custom work environment that inspires you, and maintain a healthy work-life balance. Best of all? You don’t have to deal with common workplace distractions like chatty co-workers, pointless meetings, and office politics.

Why you shouldn’t work from home.

But, there are also some drawbacks when working from home, such as not having a set schedule. That may not some like a dealbreaker. But, if you aren’t disciplined, you’ll end up sleeping in too late or taking a two-hour lunch to catch up with a friend. As a result, you’ll have to waste time working later into the day or even during the weekends. Even worse, you may fall behind your work and miss important deadlines.

There also distractions that are unique to working from home. Examples include household chores, deliveries, and being tempted to veg out on the couch and stream Stranger Things all day. There are also interruptions from friends and family. And, as any dog owner, you’ll let you know, when your furry friend wants to play or go outside, they do not care how focused you are on work.

Finally, it can get lonely working from home. We’re social creates, and not interacting with others throughout the day can be taxing on us.

So, while working from home is appealing, it’s not always the best working environment if you want to be effective and productive.

The Pros and Cons of Coworking Spaces

Perhaps the most appealing part of a coworking space is that they have a start-up vibe. You’re surrounded by highly motivated people who are passionate about what they’re doing. There are amenities like snacks, coffee, and foosball tables.

What’s more, coworking spaces allow you to socialize and interact with other talented people by working next to them or through networking events. In my experience, this is almost a once in a lifetime experience. For example, you could click with a coder or social media manager who you could hire to focus on tasks that grow your business. As a bonus, this also takes care of that isolation problem you had when working from home.

Also, coworking spaces are conducive to productivity. People go there to work. They also have a set schedule and are better suited to separate work from home since there are two different locations. Coworking spaces also have better technology and equipment then you might possess. And, if you ever had to schedule a meeting, you could meet them in the coworking space’s meeting or conference room.

Finally, as pointed out in an HBR piece, coworking spaces give meaning to your work. In a coworking space, you’re in a supportive environment where you don’t have to deal with the direct competition or internal politics. The social mission found in the Coworking Manifesto “clearly articulates the values that the coworking movement aspires to, including community, collaboration, learning, and sustainability.”

The problem with coworking spaces.

At the same time, there are some disadvantages you should be aware of, like lack of privacy. Since a lot of coworking spaces are open design, you could become easily distracted from all of the background noise. A pair of noise-canceling headphones could do the trick. But, people will then find other ways to communicate with you, such as email. No wonder the open-plan office are productivity killers.

Other disadvantages could be socializing too much with others and having to travel to and from the coworking space. If you live in a major city, this isn’t a biggie since that’s where most coworking spaces are located. But, if you live outside of a big city, expect to make that dreaded commute.

Are You More Productive Working at Home or in a Coworking Space?

That’s something that only you can answer. It ultimately depends on your personality and personal preferences. Other considerations would be the cost and the time spent commuting. But, if you’re still undecided, here are four questions to ask yourself:

• Do you work better in silence, or do you need some background noise?
• Are you easily distracted by others?
• Does your business require you to have your own premises?
• Are you a control freak? Remember, you have no say in how to design a coworking space.

Most importantly, carefully weigh the pros and cons of each. There’s no rush to make a decision right now. So, try out working at each to see which environment increases your productivity before going all-in on own your home office or committing to a coworking space contract.

Over the last couple of years, you’ve heard all about companies offering their employees unlimited vacation or paid-time-off. On the surface, this practice sounds fantastic. Who wouldn’t want to work with for a company that provided such a perk for their people — especially considering that we’re in a burn out epidemic. Have you considered the pros and cons of unlimited vacation?

However, before your startup jumps on this trend, you need to weigh the advantages and disadvantages of an unlimited policy. This way, you can determine if it’s a good fit for your business and employees.

The Pros

Offering your team unlimited PTO shows that you trust them enough that they won’t abuse this generous perk. As a result, this improves morale and builds a more loyal team. Additionally, this encourages ownership and drives motivation through autonomy.

Unlimited vacation encourages ownership and drives motivation.

Studies have found that when employees have more autonomy, they’re more satisfied. To me, this makes sense since you’re essentially allowing them to work when and how they prefer. Working how and where you want is perfect when a team member needs to take a vacation to recharge their batteries or take care of a sick family. Since you’re allowing them to take this time off, they’re going to address their top priorities beforehand.

Unlimited vacation increases employee happiness.

“One of the main reasons companies like Kronos and Netflix decide to implement such flexible benefits is to improve workplace culture and boost employee morale,” writes John Boitnott over on Inc.com. “After all, it’s becoming more important for employees to achieve equilibrium in the different aspects of their lives.”

“The 2017 State of the American Workplace Report from Gallup showed that 53 percent of employees say it’s ‘very important’ to have a job that allows them greater work-life balance and personal well-being,” adds Boitnott. “Unlimited vacation time could help achieve both of these by offering what is still a somewhat unique opportunity in the business landscape.”

Unlimited vacation gives everyone a chance to relax and rejuvenate.

Unlike employees in Europe, there isn’t mandatory time off. Combine that with the fact that we’re working more hours as well, and you can see why most people are headed down Burn Out Street. In turn, this puts everything from our health to workplace productivity in jeopardy.

While taking time off won’t completely resolve this, it’s definitely not going to hurt. After all, going on a vacation replenishes and reenergizes us cognitively. It also boosts creativity, gives us fresh perspectives, reduces stress, and helps improve focus and performance. As if that weren’t enough, taking a break allows us to process ideas, like how to develop an existing product or service.

Unlimited vacation creates a more collaborative culture.

“Unlimited vacation time doesn’t mean unplanned vacation time,” explains the Reflektive team. “Greater flexibility in using PTO means that employees also have to take responsibility for planning and requesting days off, as well as communicating with their managers and team members to ensure that work gets covered.” As a result, this “collective responsibility breeds a more collaborative culture.”

Keep in mind that unlimited vacation is good for your bottom line.

“I’m absolutely sure that it originated in some camps as a way to get a vast amount of vacation time off the books,” says Paula Brantner, senior advisor for Workplace Fairness. “It was something preferred by accountants and others looking at the bottom line. At the same time, some companies adopted it with good intentions, and that believe in the value of taking vacations.”

However, according to the Financial Times, “a big firm that ditches fixed paid leave for open vacations can wipe millions of dollars’ worth of unused leave liabilities from its books that would otherwise be paid to departing employees. At the same time, it can safely offer bottomless holidays, knowing most employees will never take them, especially in the U.S., the only major advanced economy in the world that does not guarantee workers paid vacation time.”

Any perk — such as unlimited vacation — can be used as a recruitment tool.

Employers may not believe that unlimited PTO is essential, but that’s not the case with potential hires. A PTO survey found that 51% of participants accept a job for 10% less pay if unlimited PTO was available.

The Cons

“One of the most obvious potential drawbacks to such a generous policy is the risk that employees will abuse it and take off weeks or even months without the risk of losing their jobs,” writes Boitnott. “No CEO wants to get caught in that type of financial pickle.”

Employees may abuse the policy or suffer from burnout.

However, “research compiled by Sage Business Researcher showed that companies offering unlimited vacation found that in many cases, it encouraged employees to take less time off.” Furthermore, other research has found “that it may even create competition to take fewer days off.” The main reason for this it doesn’t provide much structure since they aren’t sure how many days it is acceptable to take off. As a result, they become burned out, and productivity decreases.

Overlapping vacations.

“Without a system to track vacation requests, too many employees may take a vacation at the same time (such as during school vacations), explains the Glassdoor team. “This can put an undue burden on the remaining employees, or impact project timelines and customer accounts.”

This is especially true if you run a business where teams work in tandems — think production lines or sales organizations as examples. It may be almost impossible to be at peak productive when a good amount of your team aren’t available.

It can create animosity.

“Unlimited PTO can also create resentment and animosity among co-workers,” Taylor Cotterell writes in Forbes. “It opens up the possibility for employees to be irresponsible.” For example, there may be some employees who are taking way too much time off.

I have a friend who has been working a ton of overtime because his co-workers are doing this. And, while he enjoys the extra cash, he’s getting frustrated and exhausted. The reason is that inexperienced managers have a problem with declining time-off requests.

What creates animosity? It also rises when teams are “not effectively scheduled.” Consequently, “there might be too few co-workers to cover for them, leaving team members frazzled and overworked.” Frazzled workers can be a real serious problem during your busier times of the year.

In both situations, this is going to hinder productivity. An overworked team will be too tired to work at peak performance. And, with resentment all over the place, workplace morale will be at a low.

Compliance concerns.

“Employers are obligated to adjust certain production and performance expectations when employees take protected leave under, for example, the Family and Medical Leave Act (FMLA),” writes Jennifer Carsen on HR Drive. All of the reasons can become a problem when employees don’t take into consideration legitimate and protected reasons for some rules and laws. For example, requested time off for maternity leave.

“Employers may think putting time off into the proper ‘bucket’ no longer matters if you have an unlimited leave policy, but it does,” adds Carsen. “If you don’t appropriately categorize the protected leave, you may not apply it correctly. You may not know when that special leave is expiring, and an employee may not give the appropriate notices,” Maggie Grover, a partner at Wendel, Rosen, Black & Dean LLP, told HR Dive.

Grover also said, “When is the leave paid, and when is it unpaid? If you don’t write the policy correctly, the employee will expect that the time is paid; the employer certainly won’t.”

Don’t forget to include your fulltime remote workers. These employees will likely have additional questions

Making PTO Work

Regardless if you provide limited or unlimited time off, here’s what you should to do to make it work for your business:

• Don’t call it “unlimited.” Instead, use terms like flexible or “personalized time off” to prevent any confusion or abuse.
• Make sure to anchor the policy to your core values.
• Clearly explain expectations. Employees must understand that in return for generous time off policy, they still need to get their work done.
• Establish guidelines for how time-off requests are approved or declined.
• Don’t focus on how much time your team is putting in at work. Instead, take a look at the employee’s contributions.

If you’re an investor or a business owner running a public company, then being aware of an earnings calendar is absolutely essential. The main reason for this? Whenever a company is traded publicly, it has to play by the rules of the Securities and Exchange Commission (SEC). You will likely need to know about stocks and an earnings calendar at some point in your business career.

As explained by Investopedia, this means releasing “earnings reports after the end of their first three quarters, and both quarterly and annual reports after their fiscal year ends.” The main reason is that current and potential investors use this information to remain up-to-date on the company’s performance.

With that in mind, let’s define what an earnings calendar is, as well as the basics of earnings reports.

What is an Earnings Calendar?

An earnings calendar, as defined by Farlex Financial Dictionary, is the “schedule according to which various publicly-traded companies announce their earnings for a certain period.” The earnings are usually announced by quarter-end — and end-of-year. “The earnings calendar organizes these announcements by date and company.”

For example, an earnings calendar “may provide an alphabetical listing of all companies making earnings announcements on a certain date in October, also indicating the time and manner of the announcement.” And, as noted above, earnings calendars are used for investor convenience.

More specifically, wallmine adds that an “Earnings date is the date of the next release of a company’s financial report.”

Furthermore, an earnings report date “is the date of an official announcement about a company’s profitability for a specific period.” Additionally, in the private sector, “a quarterly finance report is a financial report that covers three months of the year, which is required by numbers of stock exchanges around the world to provide information to investors on the state of a company.”

Here are some examples of leading earnings calendars:

• Nasdaq
• Yahoo Finance
• Zacks Investment Research
• Kiplinger
• Bloomberg
• Business Insider
• Markets Insider
• Fidelity
• CNBC
• Morningstar

The Timing of Quarterly and Annually Reports

An earnings calendar is essential for analysts, investors, and traders if they want to be kept up-to-speed throughout the earnings season. This season typically starts one or two weeks after the end of each quarter. Although this can vary, it’s usually a couple of weeks after March 31, June 30, September 30 and December 31 and lasts for roughly six weeks.

Moreso, as noted on InvestingAnswers, a company’s fiscal year always “reflects the date of the calendar year in which it ends. As an example, “the financial operations of the federal government are carried out in a fiscal year that begins on October 1 and ends on September 30.”

In the past, the “standard required companies to file earnings reports no later than 45 days after the end of their first three quarters, and both quarterly and annual reports no more than 90 days after their fiscal year ends,” explains Investopedia.

The SEC in 2002, however, made the decision “to make information available to the public in a more timely manner.” These “new rules tightened these 45- and 90-day requirements to 35 and 60 days, respectively.”

It should also be noted that the faster filing deadlines are only required for public entities “that have a public float of at least $75 million and have been subject to the Securities Exchange Act of 1934” for a minimum of 12 months. “The public float is the value of all shares that are in the hands of outside investors.”

FINRA.org adds that it’s common for companies’ quarters to sync with the calendar year. “But some have their own fiscal calendar, and their earnings report release schedules follow accordingly.”

What to expect during the earnings season.

When is the unofficial “kick-off” of earnings season? Traditionally, it occurs “when aluminum giant Alcoa Inc. reports its earnings.” Because Alcoa was one of the first companies to release earnings following each quarter, it was often “seen as a predictor for the quarter overall.” However, while Alcoa “still starts earnings season, it’s no longer in the Dow, and is considered less of a bellwether.”

During an earnings season, a company issues a press release that contains information like sales and earnings. The SEC doesn’t require a press release, but, if a business does issue a statement, it must file a Form 8-K with the SEC.

“Companies typically issue their press releases before the market opens or after the market closes,” Howard Silverblatt, senior industry analyst, index investment strategy for S&P Dow Jones Indices told FINRA.org.

On top of press releases, companies will also schedule earnings conference calls. “During these calls, management might give more color on the quarter and also guide the company’s future performance.”

While it is “customary for companies to issue quarterly earnings press releases,” it’s not mandatory. So, why do they make this information public? While, when a company is thriving, they want “to disseminate the numbers as soon as possible.” On the flip side, if the results are negative, “it allows companies to prepare their investors before they file their mandatory quarterly earnings disclosures with the SEC.”

Understanding the Quarterly Earnings Report

The contents of a quarterly earnings report contain a quarterly update of all three financial statements, state Investopedia. These include the income statement, the balance sheet, and the cash flow statement. These reports also share with investors important information like sales, expenses, and the net income for the most recent quarter.

Also included may be a comparison to the previous year, or possibly to the previous quarter. Some quarterly earnings reports may also include a brief summary and analysis from the CEO or company spokesman. It’s also the norm to throw in a review of previous quarterly earnings results.

Quarterly earnings reports are often “backed up by the company’s Form 10Q. Form 10Q is a legal document that has to be filed with the Securities and Exchange Commission every quarter. “The 10Q is more comprehensive in nature and provides additional details behind the quarterly earnings report,” such as the essential changes the company experienced since the last quarter.

Want to know the exact date and time of the quarterly earnings report announcement for a specific business? Then you’ll need to contact the company’s investor relations department. As a general rule of thumb, “the 10Q is usually published a few weeks after the quarterly earnings report.”

How Earnings Reports Impact Stock Prices

As the good folks over on Investopedia explain, reporting requirements for the SEC “effectively rule the calendar year of the stock market.” Everyone from analysts, investors, and traders eagerly anticipate company quarterly reports, which are also subject to massive speculation. Suffice to say; when earnings reports are released, it can be an incredibly busy time of year.

“The reports arrive on schedule and in an avalanche, and each is followed by a wave of expert analysis and trader re-positioning.” Public conference calls proceed with the release of earnings reports. Participants on these calls often include “top corporate executives and active investors in which the prospects for the next quarterly report are discussed.” The discussion, in turn, builds towards the anticipation for the company.

Before the release of earnings, analysts share their estimates on the health of a company. If the company does better then estimate, then it “beat” the forecast. Providing an estimate can lead to a jump in the company’s stock or even ramp-up production or revenue.

However, if the ratings are off and the company “missed,” it’s an estimate stock prices may drop. A price drop isn’t always a bad thing since this could motivate traders to sell their stock.

While these estimates don’t always dictate stock prices, it does provide an insight into how the company will fare in the next quarter or year. What’s more, some investors chose not to partake in earnings seasons because there are simply too many human factors influencing prices.

Preparing a Quarterly Financial Report

As a business owner or investor, you’re most likely relying on a financial expert. They can either prepare the summary for you or advise you on financial reports. But, you should at least be familiar with the basics of these reports. It not only guides you in playing the stock market more wisely, but it will also give you the chance to improve your business.

This way, creditors, suppliers, and stockholders have the data needed to track the performance of your company. More specifically, these reports allow you and key stakeholders to:

• Track the revenue, expenses, and profitability of a company.
• Make predictions on where the company is going.
• Map out a more accurate budget.
• Improve business processes and procedues.
• Generate more customizable reports.

Every financial report must consist of a balance sheet, income statement, and cash flow statement.

Balance sheet.

A balance sheet displays the financial status of a business during a specific timeframe. In this case, it would be over three months. As Paul Cole-Ingait writes on Chron.com, this “compares your business assets against the owner’s equity and liabilities.” The following accounting equation: Assets = Capital + Liabilities is needed to come up with these figures.

Usually, a spreadsheet in Excel or Google Sheets works just fine to create a balance sheet. The balance sheet summarizes a company’s assets (what it owns) and liabilities (what it owes). By subtracting these figures, you’ll be able to determine the owner’s equity.

Income statement.

Your income statement shows the profits and losses of a business over a specific time. It provides a bigger picture of the financial performance of a company. By subtracting total revenue from total expenses, you’ll get a net profit or loss for the quarter. Without an income statement, a balance sheet would be incomplete.

Cash flow statement.

By examining operational activities, investing activities, and financing activities, you can tell how much money a company brought in or lost during an exact period. Perhaps most importantly, this allows you to identify and resolve any cash flow problems.

Depending on the size of the business, these reports may not be too challenging to create. However, there are pre-made templates on Vertex 42 and Template.net that can be used instead.

When Must Financial Reports Be Prepared?

Well, that depends on the public float of the business. In case you’re curious, this is just the portion of shares that are owned by public investors.

Non-Accelerated Filers and Smaller Reporting Companies

“A company with a public float less than $75 million is classified as a non-accelerated filer by the SEC, while a public company that has no public float or has revenue less than $50 million is considered a smaller reporting company,” writes Teresa Nguyen on Chron.com.

These businesses “have the most generous timelines to prepare their financial statements.” They have within “45 days of each quarter-end and 90 days of each year-end” to file financial statements with the SEC. Also, they must prepare these statements four times annually.

Large Accelerated Filers

Companies having a public float of $700 million or more are considered large accelerated filers. As such, they “must file its quarterly financial statements with the SEC within 40 days of quarter-end. And, “its annual financial statements within 60 days of year-end.”

These may seem like short time frames. But, believe it or not, companies like Amazon and Microsoft “prepare and file their financial statements well ahead of the deadlines.”

Accelerated Filers

Finally, there are accelerated filers. These types of companies possess “public float greater than or equal to $75 million, but less than $700 million.” They’re “required to file its quarterly financials within 40 days of quarter-end and its annual financials within 75 days of year-end.”

However, they “have 15 extra days to prepare their year-end financial statements. But, these statements must “adhere to the same 40-day deadline for the first three quarters of the year.”

The filing statements information may sound straightforward, but there may be changes in filing status. Filing status changes, generally, is when stock prices or notable increases or decreases. “

The SEC requires that a public company determine its filing status as of the last business day of its second-quarter for the prior year,” adds Nguyen. “Therefore, financial statement deadlines for the fifth year would be based on the public float at the end of the second quarter in year four.”

I personally feel that a lot of people take a schedule for granted. But, if you want to be successful in life, creating and sticking to a daily schedule is a must. After all, it makes goals more achievable and ensures that you never miss deadlines or important events. Here are 10 common scheduling mistakes and how you can avoid them.

Scheduling helps you track your progress, prepare for the unexpected.

Careful scheduling is a preparation tool that safeguards your success and keeps costs down by preventing you from going over budget. A daily schedule can also make you more effective and efficient. It’s your schedule, and you can build it around when you have the most energy and focus. But, it also helps you avoid mental fatigue.

When you wake-up having a clear idea of how your day is going to play out, you fly into your day without hesitation, and you don’t have to think about it. That means making fewer decisions since you were able to plan way ahead of the days’ work. As you planned accordingly — you have begun ahead of everyone else.

Scheduling also keeps critical stakeholders in the loop. As an example, if you share your schedule with your family, then they won’t disturb you when you’re in a meeting or the middle of your deep work. As for your team, they’ll also be privy to this information, as well as project due dates or when you’ll be out of town. You can also have a team calendar.

In short, you need a schedule. But, you’ll only be able to experience these benefits if you avoid the ten following scheduling mistakes.

1. Not having a clear purpose.

“Time is precious, and you should value how you spend it,” wrote Katrina Ruth in a previous Entrepreneur article. “If you don’t decide what matters in advance, you’ll spend it all doing things that aren’t moving you forward.”

Ruth outlines her goals and dreams in a document she dubs “Creating the life I want.” Included in it are the “goals for myself (not others), identify the actions that will get me there, and schedule them each week.”

Ruth also suggests reviewing these “items on your list and either delete them, do them, or delegate them. Sometimes it’s worth paying someone else to do things so that you can focus on what really matters: the tasks that will get you where you want to go if you do them every day.”

In other words. You should only schedule items that have a clear purpose. Keep in mind the things that are pushing the needle closer to your goals and aspirations. As for everything else? Leave them so that you’re calendar isn’t full of unimportant entries.

2. Focusing on the wrong work at a bad time.

Even if you have identified the purpose behind whatever it is that you’re scheduling, there’s often a tendency to focus on that specific activity at an inopportune time. For example, focusing on urgent tasks over your most important ones.

In theory, this does make some sense. If you knock out all of these items first thing in the morning, they’re no longer hanging over your head. You may even want to keep that momentum going for the rest of the day.

The problem, however, is that you’re using your peak hours on trivial things. A better solution would be to schedule your most important priorities when you’re most productive. No matter what time you set the alarm, this is is usually shortly after waking. Now, when you have the most energy and focus, you can tackle these items instead of working on them, you’re mentally exhausted.

3. Being unrealistic with time.

Personally, I believe that this is the number one crime committed when it comes to scheduling. Let’s say that you have to crank out a blog post or provide a timeline on when a product will launch. If you over-or-underestimate on how long this will actually take, you’re more likely to throw your entire schedule off. Even worse, you may miss a deadline or waste valuable time for you and key stakeholders like employees and customers.

Spend a couple of weeks to track your time so that you have a better idea of the amount of time needed to finish a task or run a meeting. There’s even some handy time tracking apps that will do this for you.

Additionally, stop overcommitting. If you’re already swamped this week, then push back a meeting to next week. Don’t accept a new project until you’ve already wrapped the one you’re currently working on. And, say “no” to any request for your time.

If you’re working with a team, then you also need to be aware of their availability. If you took on a new project and you don’t have the available resources to meet the due date, then you’re only asking for terrible. Consult your staff on their workload before jumping on new opportunities.

4. Inappropriate level of detail.

Adding details to your schedule is definitely beneficial. For instance, when you just booked a conference call, it would help if you had some necessary information about the person on the other end of the line, such as their name, position, and meaning of the chat.

At the same time, you don’t want to include too many details, like their entire life story. Doing so will make your schedule too cumbersome to manage. And, if it’s shared with your employees, it may annoy the daylights out of them. Like you know, they probably only need the most relevant information to complete a task or prepare for a meeting.

5. Not adding buffers and breaks.

Every schedule should have a gap between entries. For instance, if you have meetings all day, then buffers guarantee that you’ll be on-time in case the previous meeting ran over the allotted time. If the event is off-campus, then this is a contingency plan if you get stuck in traffic. Most importantly, it gives you the time to decompress and prepare for the next meeting.

Even if you don’t have meetings scheduled, don’t forget to add breaks throughout the day. We can only focus on a specific activity for so long — we also need to eat, drink and use the restroom. Scheduling breaks allows our brains to refocus and recharge. Check out: “The Best Ways to Use Breaks to Be More Productive (Infographic).

6. Building your schedule in isolation.

When creating your schedule, you don’t need to run the entire thing by others. But, when you are collaborating or outsourcing tasks, then this is an absolute must.

For example, you’re constructing an upcoming marketing campaign. I highly doubt that you’re flying solo on this endeavor. The chances are that you’re working with people like content creators and marketers. If they weren’t aware of critical deadlines, then that’s going to lead to a lot of confusion and missed deadlines.

If you’re working with a team, consult with them as you put together your schedule. It’s the only way to set realistic goals and estimates, as well as keep everyone on the same page. And, it’s also helpful when scheduling meetings. The last thing that you want is to book an event where few invitees attend because they didn’t have the availability.

7. Not stacking meetings.

It should come as no surprise that meetings eat up a large part of your time. The average spends 31 hours each month in unproductive meetings. Even if they are productive, people can still spend between 35-50% of their time in meetings.

“If you have to bounce between your work and a meeting every hour, it can be detrimental to your productivity,” wrote Renzo Costarella for Calendar. “Instead, try to stack your meetings within a certain time period.” Now you’ll be able to “plan your busy work around it instead of getting constantly interrupted.”

8. Being too rigid.

While you want to follow your schedule as carefully as possible, you also need to have a little flexibility. I mean, no matter how well organized and planned out your schedule is, things rarely go as planned. And, if you’re don’t have some wiggle room, you won’t be able to handle these unforeseen circumstances. Or, even worse, your entire schedule may now be off course for the near future.

I make it a point to leave some white space in my calendar. Usually, this is an hour or two of my day, where nothing is scheduled. That doesn’t mean that I’ll waste this time. It just gives me a little leeway if something pops up. And, if everything is running smoothly, then it’s the perfect time to go for a walk with my dog, reflect, or clean out my inbox.

9. Not updating your schedule.

Schedules are constantly changing. Don’t believe me? Just go back and let at what your schedule was like last year. Heck. Go and see how much it’s changed within the previous month. I bet you’ll notice that the month wasn’t exactly what you had planned, but thanks to putting out fires, rescheduled meetings, or adjusted due dates — you are ahead of the game.

While I do not doubt that you’re staying on top of your most essential tasks, block out a specific time each week to review your schedule. I do this every Friday afternoon. But, you can do this on a Sunday night or Monday afternoon if you prefer.

Regardless of when you review your schedule, make sure that it’s updated frequently to reflect on any real-time changes. Reflecting then quickly reviewing your calendar is most useful when you’re sharing your calendar with others. How ticked off would an employee be if they showed up to a meeting that was pushed back to next week?

10. Not using the right tools.

Finally, you can make scheduling stress-free by using the right tools. Take Calendar as an example. It eliminates those excessive back-and-forth communications when scheduling an event. Merely share your availability with others, and they’ll book a date and time that works for them. Furthermore, Calendar uses machine learning to make smart suggestions on when, where, and how to plan your next event.

The key is to find a scheduling tool that integrates with your existing calendar. And, most importantly, meets your exact needs.