America’s economy is moving away from an exchange of dollars for time, and towards an exchange of dollars for work output. Rather than insist on a minute-by-minute accounting of the work day, this practice will allow companies to put more emphasis on the quality of the work done and less on the quantity. For industries where time spent working is more important, such as shift work at retail stores, there’s a movement towards greater employee control over scheduling and time keeping. This allows for employee empowerment, which, in turn, increases employee satisfaction and work output.
- Big Time is a Chicago-based billing and time-tracking software company that works with over 2000 different companies.
- The company helps legal, architectural, engineering and government contracting concerns achieve their productivity goals.
- Big Time CEO, Saunders points out that charging a value-based amount, that makes the time spent immaterial, ultimately saves money.
“As technology advances and millennials crave quicker monetary value in their careers, billable time — based on the value of an individual’s work rather than the hours put into it — could be the new normal and propel better time management and productivity at work, experts say.”