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Impact of Training On Time Management at SPI Insurance
Impact of Training On Time Management at SPI Insurance
SPI Insurance Company Limited (SPI), an unquoted public limited company, was established in 2005.
The company is owned by United International Group (UIG) by 69%, followed by Silk Bank (23%) and
Saudi Pak Group (SPG: 8%). The overall control of the company vests in the seven members on the
BoD. Two members represent Silk Bank and five members represent UIG. UIG is a diversified group
having interests in insurance, tracking business, IT, agriculture, insurance brokerage and
microfinance-banking. Mr. M.A. Shahid, CEO/MD since beginning Jun-11, is a law graduate having
extensive insurance industry experience, especially with The United Insurance Company of Pakistan
- a flagship company of UIG. He is assisted by a team of experienced professionals
2. Ice breakers:
Two to three ice breakers are performing so that everyone take interest and communicate with
other to eliminate the shyness and hesitation and built interesting learning environment. After it we
perform an activity with is related to time management so that employees have better idea about
training content.
3. Learning Objectives
Effective time management skills drive all successful organizations. In this module we will
tell them the key time management skills that adopt in organization will deliver endless
results.
When we will complete this module they will be able to define the key concepts associated with
time management and you will be able to:
Identify the main obstacles to effective Time Management in your daily role.
Understand the nature of Time Management.
Understand a range of tools, techniques and concepts for Time Management.
Use these techniques to build an effective Time Management process that will enhance your
productivity and lower your stress.
Explain the benefits of having an effective Time Management process.
4. Time Management & simple concepts
In order to prepare to manage the time more effectively, it is necessary to understand some simple
concepts. These are:
Essential Habits
Types of Time
You may notice that the first 4 all interconnect and interact to generate the fifth aspect of results
Research and experience have consistently shown that there are essential habits that drive excellent
time management. These include:
If we keep applying the essential habits, we will never be excessively concerned about time.
4.3. Types of Time
Although all of us refer to time in terms of either of not having enough or having too much it is
generally accepted that time should be categorized into two types:
Fast Time
When absorbed in, or enjoying an activity
Slow Time
When bored with an activity or having a bad time
When scared
Time for tasks or activities can be either over- or under-estimated due to:
Intensity of activity
Level of brain function
Length of gaps between enjoyments
Fear or ecstasy
Under-estimation of time
Stress due to committing to too many tasks
Poor quality output
Deadlines may be missed
Covey identified 4 waves in time management each of which help us understand the concept of
time in relation to the organization.
3. Prioritization
Comparison of the relative worth of activities
4. Self-Management
Realization that time cannot be managed - it is ourselves that we have to manage!
5.2. Spent Time Matrix
The Spent Time Matrix is an important tool that will help you make better your use of time. By
understanding what are the implications of being within any one of the quadrants you will be able
avoid the pitfalls of inefficient use of time and will assist you in prioritizing your time.
For effective management of time, there needs to be a reasonable attempt made to look at the time
and resources required to complete a task. The quality of the outcome is directly influenced by the
resources and time constraints involved.
Focus on Time & Resources
• For effective management of time there needs to be a reasonable
attempt made to look at the time and resources required to
complete a task:
Quality
Resources Time
The ability to learn from past experience allows time management to improve performance as well
as the discipline of reviewing past performance allows the organization to:
By setting goals that relate to business performance and conform to SMART criteria the organization
will improve productivity:
To achieve time-based management, they will need to ask themselves the following questions:
Is the allotted time for completion of plans realistic for the person / team?
In the effort to achieve results, is efficient use made of the available time?
For teams - how can the time available be used to generate the optimal results?
Is task-related time management appropriate and realistic in the situation?
Moudule 3
6. Productive Work
Now that we have presented some of the key aspects of time management, it is now necessary to
apply this learning to the concept of productive work. After all it is why most of us want to learn
about time management!
There are five key terms that we need to understand about productive work so that we can manage
our time more effectively.
The one thing that we all can say about our work is that we are busy.
However, just because you are busy does not mean that you are productive!
To determine whether you are busy versus productive you will have to differentiate between:
Problem No. 1
Procrastination is the first problem that all of us face in our journey to manage time more effectively.
This is simply putting off doing the things that you should be doing at this point!
When faced with a task - decide to deal with it according to one of the following actions:
Do it
Delegate it
Dump it
Deadline it
Dissect it
This may at first seem to be a simplification and easier said than done. However, take a few minutes
to think about the activities that engage in everyday and try to see if the actions above would help
make better use of your time.
Problem No. 2
Paralyzing perfectionism is the second problem to solve when deciding whether we are busy or
productive.
The following definitions should help us decide if we are affected by paralysing perfectionism:
Excellence is:
Achievable
Healthy
Satisfying
Realistic
Perfection is
Unattainable
Frustrating
Unrealistic
Problem No. 3
Setting unchallenging objectives is another problem that many busy, but unproductive, individuals
face.
Objectives need to be set that challenge you in a realistic manner and take heed of resource
availability. Otherwise you are busy without any possibility of success.
Now we can use the extended SMART criteria by adding another S. This SMARTS criteria will ensure
that the objectives are:
Specific
Measurable
Attainable
Realistic
Time-Bound
Supported by the Organization
Although the conversion of the SMART criteria to SMARTS may seem like a small step, the difference
is really immeasurable. Take a few moments to think of how your efforts to manage your time have
been affected by lack of support from your organization.
6.3. Overwork
Psychological
Physiological
We all have probably expressed that we are overworked at one stage or another in our career.
However, people are overloaded for two primary reasons:
Breathe and manage your time as you are in control of how you utilize your own time
Urgency V Importance
Have ever we noticed that everything at work is always urgent these days? But have we ever
considered that everything urgent may not be important?
Prioritization Grid
Importance
Priority 2 Priority 1
Priority 4 Priority 3
Urgency
Urgent Tasks
o Assume importance as they demand immediate attention.
Important Tasks
o May become urgent if left undone
o Usually have a long term effect
7. Crisis Management
It is commonly accepted that poor crisis management is closely associated with poor time
management. Often what occurs is that an issue is raised and there is not enough time to deal with
it. This is usually then compounded by the stress that is caused by the crisis and a belief that there
is a need to react to the crises.
Many organizations and individuals operate in a constant state of crisis reaction which generates
greater unpredictability within the organization and a negatively charged and stressful work
environment. To avoid this situation and improve and manage time skills it is important to consider:
Although this may seem like a rather subtle difference in terms of working styles, it is all important
when managing your time effectively.
7.2. Why Crises Occur?
Checklist of reasons:
Rule 1: Be Proactive
Being proactive means taking initiative, not waiting for others to act first, and being
responsible for what you do. The opposite of proactive is reactive. Reactive people tend to
react to what goes on around them. Proactive people act based on principles and purpose.
Rule 2: Start with A Clear Objective
Think things through. Plan your work. The carpenter's rule is "measure twice, cut once."
Planning requires that you set realistic goals, not only for your job, but also for the various
assignments you have to complete. Take a few minutes to write out your goals and then list
the steps to achieve them. You may even want to add the element of time to each task--how
long will it take and when can you do it.
Rule 3: Target What Is Important First
Make sure to distinguish the goals that are truly important (e.g. Meeting with the client)
from those that may seem urgent but are really not important. You do not want to spend an
inordinate amount of time doing busywork--work that appears productive but only keeps
you occupied.
Essential to being proactive, as opposed to reactive, is to project ahead that will be difficult
and begin to develop a plan to address the difficulty anticipate.
One Last Word...
If we have never managed our time before, it will take a little bit of time to learn how and to
do it. But just like anything else, the more we do it, the better we get. This, in turn, will allow
to schedule time better and faster.
Do not assume, however, that you have to do everything outlined in this section of the
course. Instead identify those suggestions mentioned that will enhance your way of
managing time. Perhaps, you prefer to compose daily "to do" lists rather than to maintain
weekly schedules. That's just fine. Be discriminating and remember that, in many cases, you
will have to modify our advice to fit your learning style.
While you are scrutinizing your use of time, make sure to note any patterns to your wasting
time. Also note under what circumstances you use time effectively. No one knows you better
than yourself; in most cases, you are your own best friend
Module 5
A plan is a road map set in real time to reach an objective or set of objectives through the use of
defined resources.
There are certain key criteria that need to be applied to a time management system:
Functional
Portable
Intelligible
Appointments
Dated deadlines
Tasks - to do and work in progress
Ideas and notes
Key task identification
Personal information
Financial planning records
Crises log
Project log
Contact list
Time Logs
Quality Time
Managing Documents
Managing Interruptions
Managing Workspace
Managing Your Phone
9.1. Time-Logs
A time-log is an effective way to see where time actually goes during the working day. Record the
information for about 2 weeks to get a representative picture of time spent. By logging activities
and the time taken to complete them, the time-log provides useful information that can identify:
Time logs will help us understand how we use your time, so that we can identify and eliminate all
time-wasting activities. As a result time logs will allow us more time to do our work and increase
productivity at work. In addition, it will also free time so that we can also achieve a greater work-
life balance.
When we set out first to record our time we will more than likely be surprised at the amount of
time-wasting activity we engage in. In addition, we will soon realize that what we thought and did
everyday may be quite different. Be patient and keep filling in the time log and the benefits will soon
pay considerable dividends.
As you become more confident at completing your time logs, it is important to turn your attention
to analyse these logs.
To do this simply review your log and consider what time spent is valuable, what activities we should
continue to follow and how could we free up time by doing things differently.
The important aspect of this technique is that it allows us to record and review what we do and
what time is used.
Quality time is where we can plan to do the most important high priority tasks.
Document handling can steal a vast quantity of time from your working day. Improve document
handling by handling documents only once by:
Have a good system for handling your documents that allows us to:
In any given day we are all interrupted at some stage from the activity that we are undertaking.
Whether this is by a phone call or a colleague calling to our office they all can impact the time you
have allocated to a particular task.
Your objective should be to try to reduce the number of unwanted interruptions by applying the
following practical techniques:
Create a visual barrier at your workspace to reduce the incidence of ‘drop-in’ visits
Don’t have extra chairs in your workspace - people do not hang around as long if they must
stand
For important work - move to another space so the potential interrupters can’t find you!
Tell people that you are busy, explain why and arrange to contact them at a more suitable
time
It is always not possible to manage interruptions but it is important that we try to limit the frequency
if these interruptions.
How your workspace is organized has an impact on how efficient you are at managing your time.
The telephone can be responsible for eating vast quantities of your time. Although many of these
calls are a necessary part of our everyday work it is important that we manage the phone by using
the following simple rules:
In this final section we have explored some practical tips and techniques that will allow us manage
our time more effectively at work.
It is important that we apply and practise these techniques often so that our time management
skills will continually improve.
Remember time management is a skill that can
be learnt – all we have to be is open to this
learning.
10. Annexure (Training module)
ICE BREAKING SESSION (15 minutes)
Different Ice breaking sessions so, that training participants take part and
feel energetic, built interesting learning environment and understand each
other.
MODULE - 1
Learning objective Time management 30-35 Minutes
Activity -1 15 Minutes
Activity related to Time management.
Each participant has to perform this activity in group of two persons.
Essential Habits
Types of Time
MODULE – 3
Productive Work 15-20 Minutes
1. Busy versus Productive
2. Indecision & Delay
3. Overwork
4. Urgency versus Importance
5. Prioritization
MODULE – 4
Crisis Management 15-20 Minutes
Proactive versus Reactive Work
Why Crises Occur?
Anticipating and Preventing Crises
MODULE – 5
Planning, Tips & Techniques 15-20 Minutes
What is a Plan?
Time Management Systems
Tips & techniques
Time Logs
Quality Time
Managing Documents
Managing Interruptions
Managing Workspace
Managing Your Phone
Video Based Evaluation 5-10 Minutes
Participants will be shown video clip related to time management
It will be very effective for them
Participants have better idea of time management techniques impact on
their productivity.