Resources - Visible and Invisible
January 2004
There are two kinds of resources: money and time. You can trade one for the other. In each case, I subdivide them into two categories: visible and invisible.
Visible money and time are easy to conceptualize and track. In fact, we spend much of our time doing so. However, you can be tracking and using those resources wisely and still lose money. How? By hemorrhaging invisible money and time.
Let’s look at money. You pay your overhead, salaries, wages and bonuses, and direct and indirect costs. However you define these. Measurable dollars go out. But when your procedures and ways of doing things are not efficient, you can hemorrhage time. Similarly, if your employees are not getting along, or not being fully utilized, you lose invisible time. Let’s say there is a small office feud going on. It’s not that unusual; if you don’t have one going on right now or recently, count yourself lucky. The time that folks are taking to tell their stories of woe, bicker, choose sides quietly or not, adjust alignments and bolster their opinions, is time not spent on work. Sure, it’s just a few minutes here and a corner cluster there, but it is time wasted. Similarly, those in the heat of opinions, passions etc. are not working to their full potential.
Am I suggesting that all time spent talking in the workplace is stealing from the boss, as Wal-Mart maintains? Absolutely not.
Ramona Abbott helps businesses maximize their efficiency, effectiveness and group dynamics. She utilizes proven techniques that are fun and affordable to help you improve your workplace in a variety of ways. She welcomes inquiries at 360-398-2606 or ramona@EssentiallyProfessional.com
(c)2003 Essentially Professional Website Design: Dedicated Designs