The Difference Between Speed and Efficiency

With encroaching deadlines, unforeseen obstacles, and new tasks being added to our workload every day, we often feel pressured to get things done quickly. The problem that arises from that is that speed and efficiency are not the same thing, and in business, this differentiation can be critical. Getting things done fast does not mean getting things done well. By focusing on the speed of accomplishing something, we often overlook, and therefore sacrifice, the quality of our work. To get something done efficiently means to achieve maximum productivity with minimum wasted effort.

When time is our enemy, efficiency is our best friend. The goal of any employee should be to get the most out of their workday. This means to get things done quickly and to get things done well. No one wants to have to re-do a task because it was not done the right way the first time, though that often happens. When leaders put so much pressure on their employees to get their work done, those employees may be forced to choose between disappointing their leader by not meeting the deadline or by not delivering the highest quality work. Either way, someone is usually disappointed. 

That’s why it is crucial for leaders to have realistic expectations of their employees and to understand what goes into completing a task. This requires open communication from both the leader and the employee. It is the responsibility of the leader to set their people up for success, and it is the responsibility of the employee to communicate to the leader when extra time or resources are needed. When everyone is on the same page, everything runs smoothly.

Instead of asking your people to work quickly, you should be asking them to work efficiently, and make sure you define what that means. They should be using their time wisely so they can get the most out of their day without wasting time or resources and without sacrificing the quality of their work. In business, efficiency beats out speed every time.

-Meghan Slaughter