Should CEOs Track Their Time?

If you’re in a services business, you likely have some sort of productivity or project management software in place for your team. Your employees track their time, and you have visibility into how their patterns and efficiency impact your bottom line. But what about you, as the entrepreneur and CEO? Should you track your time, too? Here’s what I’ve learned about whether or not that’s a good idea for the leader of a company. 

Spinning Your Wheels

Currently, I track my time in our business’ project management system. But this wasn’t always the case. It all started a few years ago when I was frustrated by what felt like a lack of progress. It seemed like I never had any time, and my team members echoed that. They felt like I wasn’t accessible to guide them or help them on projects. Yet at the same time, it felt like I was working nonstop.

Clearly, that equation didn’t add up. How was I putting so much of my time and energy into my work, yet having nothing to show for it? This was what prompted me to track my hours and efforts. It turned out I was spending around 80% of my time on only 20% of projects. The time I was spending wasn’t the problem; the prioritization of that time was. This was a real eye opener, and the first step in helping me to stop spinning my wheels. 

Profitability & Structure

Whether you’re the leader of a business or the most junior employee, you have the same limited number of hours in your day. Do you know how you spend those hours? CEOs often get stuck because they know they’re the visionary of the company, and need time to be free to think, strategize and plan for the future. 

Many also, frankly, assume that tracking their time is beneath them. They think they’ve earned the ability to rise above something that’s traditionally reserved for employees who require some level of oversight. But, I’ve actually found the opposite to be true. Tracking my time helps me ensure that what I’m spending my time on makes sense, from a profitability perspective. It also gives my day structure. 

I see it sort of like having a budget for your personal finances. At first it may seem like budgeting is restricting, but when you get the hang of it, it actually gives you permission to spend freely (to a point) on the things that matter to you. The same goes with time tracking. Once you get in the groove of being aware of – and properly prioritizing – the limited hours in your day, you can reserve time for the things that make the most impact, like leaning into your role as a visionary leader. 

The Trickle Down Effect

Finally, but possibly most important of all, is that time tracking positively benefits the other people in your life. By having visibility into what you’re working on and how you spend your time, and seeing that you follow the same procedures you ask them to, employees feel empowered. They see a leader who practices what they preach. And, practically, they can see when you’re available so they can loop you in when needed and not have to worry about whether or not you’ll have time for them. 

This positive trickle down effect also goes beyond the office, and extends to your family. If you feel like your time isn’t being spent as it should, your loved ones probably feel the same. Keeping track of this keeps you honest and helps you realize when you need to pivot and reprioritize. 

Managing productivity and tracking your time in a project management system may take some time getting used to, but I promise you it’s worth it. There’s no greater – or more finite – resource than your time. I encourage you to really, truly spend it well. Have any tips for me about what’s worked for you in this area? I’d love to hear from you.