Many people argue that time is perhaps the most important resource there is, without question. Harvey MacKay once said “time is free, but it’s priceless;” anyone and everyone has it – the same amount each and every day – but extra time cannot be bought and once it’s gone, it’s gone.

Although time is important for just about everyone, managers and leaders will know more than anyone how important it is. For them, time means everything. If a leader or manager could do everything his/herself then they would, but there are not enough hours in the day and depending on the business that they own or help to run, other people – employees – will be roped in to help.

Unfortunately, many managers and leaders fall into a trap: they want to invest in time management, but they haven’t got the spare time to do so! However, freeing up the diary for just one time management course could make all the difference.

So why exactly is time management important for managers and leaders? Here are five benefits:

Make better decisions: Ever felt so rushed and overwhelmed that you made a rash decision that wasn’t the right move? With more time, a manager will be able to spend more time making decisions, thinking them through fully and carefully while giving them the time they deserve. A bad decision might create a messy situation, which – you’ve guessed it – will take yet more time to fix afterwards.

More quality work: Less time will mean that projects get less attention. This could lead to mistakes being made, which will need to be rectified afterwards anyway. More time spent on a project will mean a higher quality project, a better level of work and more satisfied customers or clients.

Provide more support to your staff: One way to free up your time is to take the time to train and delegate to others, meaning that they can take the load off. The free time saved can then be used to help them with any problems that they encounter. Taking the time to help your staff will not only lead to an improved level of work, but an increase in their productivity, appreciation, loyalty and overall satisfaction.

Increased flexibility: Deadlines change, priorities shift… Someone who is already snowed under with work will struggle to react accordingly. If you have more spare time and a priority happens to change, you should find it easier to adapt the relevant people, workloads and projects to do whatever needs to be done efficiently.

Get more done (that matters): One of the hardest things for a manager to do is to know what to delegate and what to keep. The first step is in having the trust to give someone an important task – try it and you may be surprised with the result. However, some things can’t (or simply shouldn’t) be delegated, so keep hold of the important stuff and delegate the rest. This will give you more time to do the most important tasks in the business. » Read more: The Importance of Time Management for Managers