It is within this framework that bosses are possibly to use the phrase, "time is money." Bosses acquire their employees' time through wages and salaries. It's expected that the activities which the employees undertake during that time will pay not merely for ones wages, but also benefits, overhead, other production costs, and nevertheless have some left over for profit.
When the American workplace was based on manufacturing and piecework, the phrase, "time is money" was less appropriate. That is because employers were not purchasing employees' time, but their product. If a couple of workers worked eight hours, but one created 20 widgets and the other only made 10, the a single who made 20 would receive additional cash than the 1 who made 10. While it might were beneficial to every worker to work quickly to be able to make the maximum quantity of widgets, the phrase is unlikely to get originated of the boss in this situation.
But of the introduction of salaried workers, who are paid the same rate regardless from the amount of widgets produced, it now became the bosses' responsibility to create certain that the employees created the maximum amount feasible so that you can get the most for their money. The assembly line provides a vivid example of how time can equal funds inside a work environment. So lengthy as workers at all areas in the assembly line work at the exact same rate, the line runs smoothly and every worker is kept busy. But if a single section with the line
Of course, what may possibly seem unproductive today, just like education and retraining, may possibly result in long-term time efficiencies, not short-term. The question is, do managers who use the phrase, "time is money" recognize the long-term ramifications from the statement?
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