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Evidence gathers. I posted research agrees: time is the scarcest resource more than a year ago. Then this week I found Research Finds Time As A Means to Happiness in a Stanford business school publication. This one is about a new study with similar findings, plus a summary of several others.New research takes a fresh look at this topic. Jennifer Aaker and Melanie Rudd at Stanford University, and Cassie Mogilner at the University of Pennsylvania, published “If Money Doesn’t Make You Happy, Consider Time,” in the Journal of Consumer Psychology, 2011. They discuss how happiness is indeed a consequence of the choices people make. So what can people do to increase their happiness? Their answer is surprisingly simple: spend your time wisely.
Author Alice LePlant offers a good summary of a collection of research pointing towards the same conclusion. Among several points she brings up, this one is particularly striking for entrepreneurs and small business owners:
We spend most of our time at work. So understanding how we should be spending our time at work is much more important than people think. It has been interesting to observe which companies are doing a good job of creating opportunities for employees to manage their own time. This goes beyond providing opportunities for flexible hours, telecommuting, and independent contractor relationships. Which companies are allowing opportunities for employees to fundamentally design how they spend their time both at work and outside of work — in ways that are creative and innovative? As Millennials enter the workforce, these types of demands will become even more common.
Definitely worth reading.