The Time Economy
These past few years have left many people feeling exhausted and overextended. Collectively, we're taking stock of what matters to us. The pandemic has shifted our attitudes about what we value most, and how we want to allocate our most precious resource — time.
The data show that at least in part, what’s been called the "Great Resignation” hasn’t been driven by a lack of desire to work, but by workers’ unwillingness to spend their time with organizations who don’t value their time.
The Time Economy is a workplace revolution driven by the need to reclaim time in an environment balancing the conflicting demands of productivity and flexibility.
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Roughly 1 in 3 workers would opt for more free time over a raise.
That number is even higher for those in management positions and above, 41% of whom would prefer more time than more money.
%
of people do not feel they have ample time in a 40-hour workweek to get their job done.
%
Few people are angry enough to quit, but plenty of people are feeling drained or ambivalent — only 32% are feeling optimistic.
Attitudes about work
While only 4% of people are feeling angry or on the verge of quitting, most people are somewhere in the middle.
Overall, 32% of knowledge workers are feeling optimistic about work. That number is lower for individual contributors, however, only 26% of whom feel like they're thriving.
What people value most in a job
After the responses you’d expect — salary, time off, and health care — people rank flexibility to work when and where they choose above other factors such as culture and connection to colleagues, reasonable expectations, and a sense of purpose.
%
of people agree work-life balance has become more complex over the past few years — more so than all other factors including communication, time management, and workflows/processes.
Technology is a critical factor in workers’ attitudes
We are at a pivotal moment with work where, regardless of the industry, time has so clearly become our most scarce, in-demand resource. To thrive in today's time economy means purposely embracing the digital tools that will empower your workers, customers, and your customers' customers to be most efficient with their time. This is the secret to winning in modern business and driving a happier, more productive, better connected workforce.
Access to modern technology at work is important to the majority of workers – 82% of participants say modern and efficient technology at work is important, and 64% would ask about the tech they’d be using when looking for a new job.
Time spent using or managing inefficient productivity and collaboration tools is the number one factor negatively impacting productivity at work — more than meetings we don’t need to be in, workplace models, irrelevant emails and inconveniently timed meetings, and even family/other obligations.
What most negatively impacts productivity at work?
%
of all Director-level employees find their calendars as difficult to manage as their email inboxes. Over half agree they spend “an outrageous amount of time” rearranging their calendars and scheduling meetings with people outside their organization.
of Directors/VPs/CXOs think time management and/or communication has become more complex, compared to approximately a third of individual contributors and managers.
of individual contributors are more likely to report frustration with tools than other employees.
of workers surveyed would be more likely to quit their jobs if they had to use outdated and inefficient technology.
Any tools or processes that cost people their precious time are now under a microscope. The data from the survey shows the extent to which employees require the right tools: Help me manage my time, they say, or I may go elsewhere.
In our personal lives ...
People pay out of pocket for web automation tools that save them time at a similar rate as they do for other time-saving services like meal kits and house cleaning.
How the Time Economy impacts workers based on roles
Sales
Sales professionals tend to have more scheduling-related challenges than other roles.
%
of sales pros say it’s harder to manage their calendar than their inbox.
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of sales pros say scheduling has become more complex over the years, compared to 1/4 of CS and 1/5 of HR professionals.
%
of sales pros say time spent using or managing inefficient productivity and collaboration tools most negatively impacts their productivity at work.
Customer success
Customer success professionals desire more open space in their schedules than their counterparts — half of CS workers say they’d prefer for most of their days to be meeting-free!
Out of all roles, customer success professionals are the likeliest to cite time spent using or managing inefficient productivity and collaboration tools as something that negatively impacts productivity at work.
%
of customer success respondents cite time spent using or managing inefficient productivity and collaboration tools as something that negatively impacts productivity at work.
%
of customer success respondents cite too many irrelevant emails as something that negatively impacts productivity at work.
%
of customer success professionals admit to checking their calendars an average of up to five times per day.
Human resources
%
of HR professionals report not having enough time to get their work done in a standard 40-hour work week.
%
of HR professionals feel that work-life balance has become more complex since the pandemic began — more than any other role.
%
of HR pros have experienced an increase in meetings — around 20% more compared to other roles.
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Scheduling-related emails negatively impact HR’s productivity at 3x the rate of other departments.
%
of HR professionals report checking their calendars three or more times per day — more than any other role.
Workplace models impact how people feel about their time at work
Depending on whether people work from home, the office, or a hybrid of the two, workplace models impact attitudes about how time gets spent at work.
The way people allocate their time has changed as the lines between work and life have become blurred. Though we might expect this to be especially the case for remote and hybrid workers, fully in-office workers have seen the same level of disruption to their lifestyles. (This may help explain why PTO is valued and sought after more than healthcare benefits.)
%
of remote and hybrid workers report work-life balance has become more difficult over the past few years.
%
of in-office workers report work-life balance has become more difficult over the past few years.
Remote work environments tend to have fewer issues with inefficient tools, perhaps because they’ve needed to modernize their tech at faster rates to adjust to a remote work style.
How time spent using inefficient productivity and collaboration tools impacts productivity
The way forward
The companies that will succeed in the Time Economy are those that are actively implementing technologies and processes to help people reduce tedium and use their time wisely. They’re embracing the next wave of technology and services that automate the inefficiency out of every interaction so people can focus on the work that matters.
Calendly’s part in the Time Economy is giving people control of their availability — our mission as a company is to take the work out of connecting with others so you can accomplish more.