Experts have identified time management as a better resource to ensure productivity among the workforce.
Speakers at the inaugural Time Attendance Management System (TAMS) summit said individuals, organisations and countries that pay attention to time management usually experience increased productivity when compared with those who pay little attention to time management.
The event organised by SB Telecoms in Lagos under the theme: From ‘African Time’ to ‘On Time’: A Paradigm Shift, the time management summit drew attention to the economic impact of ‘African Time’ on productivity in the progress of individuals, organisations and nations of the world.
In his welcome address at the TAMS Summit, Mr. Afolabi Abiodun, Chief Executive Officer (CEO) of SB Telecoms, said findings from a research conducted by the company recently showed that almost 12 percent of annual labour cost is lost to lateness, tardiness, time theft and absenteeism in the private and public sectors of the economy.
To solve the challenge, he said SB Telecoms developed a Time Attendance Management System (TAMS) which from 2013 to the present has been deployed by over 1,000 organizations, including multinationals.