5 Time Management Stats Every Employee Must Know in 2019

   There are 28.8 million small companies in the United States, according to the U.S. Small Business Administration, and they have 56.8 million employees. Small companies (those with fewer than 500 employees) account for 99.7% of all business in the US. About two-thirds of companies survive 2 years in business, half of all companies will survive 5 years, and one-third will survive 10 years according to The Bureau of Labor Statistics. A U.S. Bank study found that 82% of companies fail due to cash flow. 

 At the heart of the matter, success in business regardless of size, comes down to focusing time in the right areas. Wasted time, or time spent on the wrong things, can lead to the demise of any company.

 With this in mind, here are 5 Time Management Statistics Small Company Employees Must Know in 2019:

  1. The average employee spends 68.1% of the time working "in" their company - tackling day-to-day tasks, putting out fires, etc. - and only 31.9% of the time working "on" their company - i.e. long-term goals, strategic planning - according to research from The Alternative Board (TAB). 

 2. Business Pulse Survey shows the majority of employees (63%) are working more than 50 hours a week, but the average employee only wants to work 41.7. 

 3. 40% of employees admit to either having an ineffective annual operating plan/budget or none at all. (Business Pulse Survey)

 4. The Harvard Business Review reported on a Covey Center for Leadership study that investigated the emerging length of the American workweek. Surveying more than four hundred executive, business owners, and employees, they discovered that the average business leader works a 72-hour week.

 5. Gallup and Wells Fargo, in a joint poll, found that 57% of employees work six days a week. And over 20% of them work seven days a week.

  Top time wasters (Harris Interactive Poll on 2138 Hiring Managers)

 - Talking on the cell phone and texting - 52%
  - Gossiping - 50%
 - On the Internet - 39% 
- On Social media - 38%
  - Taking snack breaks or smoke breaks - 27%  - Distracted by noisy co-worker - 24% 
- In meetings - 23%
  - On email - 23% 
- Distracted by co-worker drop byes
 - 23% 
- Distracted by co-worker calls on speaker phone
- 10%

 In summary, if you are an small company employee, chances are that you are wasting time and in business - time is not only money, it can be the difference between survival and failure.