What do you value most? Time or Money?

If I work less, you will pay less. True?

I’m assuming your answer to the question, what do you value most, time, or money? Your answer was time. Given enough time I can make more money. No matter how much money I have, I can’t necessarily buy more time.

So, if I do my work faster for you, that should have a higher value, right?

You see, it doesn’t work both ways. We want our employees to be more efficient doing world-class work, but if they don’t work the amount of time we expect, “we” feel like we got cheated. But, wait, I did what you wanted in half the time, you should be happy to pay me, in fact, you should want to pay me more!

Let me give you a real example.

Let’s say you’re paying me to find you a world-class employee, that will be super valuable to your organization. I’m billing you 25% of this employee’s first year’s salary of $100,000 if I successfully find you this talented person.

Turns out, I was able to find this person in 5 minutes. You owe me $25,000.

I’m so happy I was able to find you the person you wanted to hire! We are both extremely happy!

But you are not! Are you?

Why?

You feel cheated. You feel like if it only took me 5 minutes to find this person, that can’t be worth $25,000.

So, let’s break this down:

  • You said time is your most valuable resource.
  • I just gave you weeks, maybe months of time, since this search only took 5 minutes.
  • In fact, getting this hire on so quickly will allow your organization to close millions in additional project work.

Do you still feel cheated that I did my job so well, it gave us both more time and more value to both of our organizations?  Yes, most likely…

Great leaders would be extremely satisfied with this outcome. Average and emerging leaders would accept it, but still have some slight heartburn (how will I explain this to my executives? I’m paying $25K for 5 minutes of work!). Awful leaders will fight not to pay the invoice and ruin the relationship.

Now all of this has nothing to do with staffing, that was just the example. It has to do with what we value more. Time or Money.

We fail as organizations when we can’t define what is most valuable. This is how we get leaders who still value “asses in seats” over people delivering great work quickly. World-class organizations set great deliverables, reachable goals, and reward employees for meeting those goals on time, or ideally sooner!

The reward employees get is time and flexibility. The reward the organization gets is employees who want to continue to blow goals out of the water.

What do you value more, time, or money?

1 thought on “What do you value most? Time or Money?

  1. Pingback: What do you value most? Time or Money? | TechStaffer

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