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Why we trade time instead of outcomes

In my employment contract there is no mention of productivity or an expected outcome. The one thing that is stated: I give time, I receive money, which means I trade time for money. Wouldn't it make more sense to demand something that is more valuable to my company than time? Time alone does not help them in any way. They want results, not time. I could spend all the time in the world sitting at my desk and would not produce anything useful for them. Time is valuable to me, but that does not make the time I devote to my job valuable to my company. If they want outcomes, why don't they call for them?

The answer is easy. Time is the easiest thing to measure. Productivity is hard to measure, because to measure it accurately, you need well-defined goals. And expected outcomes (goals) can change from week to week in many workplaces. Expected outcomes can be defined at the beginning with the information present at that time, but they won't stay relevant for long. They have to be reevaluated constantly, on top of being harder to pin down. Anything that changes is hard to put into a contract, because my contract has to be a static document that both sides can rely on.

Time is equal for everyone. Forty hours are forty hours. This time is the same for me as it is for my boss. It doesn't have to be reevaluated; automatic systems can track it. Even if I am jealous because my coworker does not have the same workload that I have (if I even notice it), he still has to sit here for the same duration as I do. Time can be compared so easily, which makes it great for reducing envy at the workplace, because on the surface everyone has to bring the same to the table.

Time can be spent regardless of my current motivation or productivity level, which can be a blessing and a curse. If I work harder than usual and try to get things done, time does not magically advance faster. So there is no incentive to push yourself. But if expected outcomes were the measurement, it would have the potential to introduce more stress if I can't realistically reach a goal. It could lead to a situation where I would constantly doubt myself if the work I have done is enough to satisfy the goals for this week. Time can shield me from this stress, as I know exactly when I reach my required hours.