Business Review

Executive Summary

The modern worker has very little time for learning, and yet continuous learning is vital for anyone who wants to maintain their edge. There’s a significant pressure on us all to learn the right stuff, but how do we identify what that is? A time-utility analysis can help you decide what to prioritize. By examining how useful a skill should be, and how much time it would take you to learn, you can plot various skills on a 2×2 matrix: stuff that’s easy to learn and really useful is a clear quick win, while you’ll have to carve out more time for useful skills that take some time to learn. And for those truly useless things? Think about how much time you can afford to invest in them, and then learn as you can — or just move on with your life.

So much to learn, so little time.

The world is bursting with learning. There are several million business books, 3,000 TED talks, 10,000 MOOCs, hundreds of thousands of e-learning courses, and millions of self-published articles on platforms such as LinkedIn and Medium. The article you’re reading right now is just one of thousands of articles on HBR.org. Picking the best and most relevant from all this is hard.

Yet it’s essential. The modern worker has very little time for learning — less than 1% of their time, according to Bersin, a division of Deloitte. And it’s more important than ever to learn continuously as the shelf life of skills shorten and career paths meander and lengthen.

So there’s a significant pressure on us all to learn the right stuff. How do we identify what that is?

One approach is to apply a time-utility analysis (similar in form to a cost-benefit) to the subjects you’re interested in learning. “Time” is time to learn. It’s effectively the opportunity cost to you of achieving competence. “Utility” is how much you’re likely to use the desired skill. For example, today’s manager spends a lot of time emailing, gathering data, running meetings, and making spreadsheets, so the utility for improving at these activities is especially high.

Combine time and utility, and you get a simple 2×2 matrix with four quadrants:

• Learn it right away: high utility, low time-to-learn
• Schedule a block of time for learning it, ideally in your calendar: high utility, high time-to-learn
• Learn it as the chance arises — on a commute, lunch break, and so on: low utility, low time-to-learn
• Decide whether you need to learn it: low utility, high time-to-learn

Once you’ve decided what you want to learn, you can use this same framework to zero in on specific skills to focus on.

Let’s illustrate the method with a single workplace activity with high utility: spreadsheeting. Knowledge workers spend almost half an hour in a spreadsheet every day. And in major corporations, this is almost synonymous with using Excel: there are almost a billion users of Microsoft’s spreadsheet program, and more than four-fifths of businesses globally use Excel. A time-utility analysis might suggest you want to get better at it.

But Excel contains over 500 functions and many more features; that’s a lot to learn. Where would you even begin? For a time-utility analysis to be of any use, we need it to help us at this level, down here in the weeds. To get a sense of utility, we reviewed dozens of articles written by Excel experts about their preferred Excel features. We used this analysis to compile a list of the 100 most useful Excel functions, features, tips, tricks and hacks, ordered numerically by utility. We combined this with our own data on how long each of these features takes users to learn, and plotted the two against each other. (Yes, we got a little excited about this project. Don’t worry, you don’t have to delve into this level of detail when you’re prioritizing your own learning.)

As you’d expect, there’s some correlation (r=0.3), so the more useful items take longer to learn in general. But the scattered effect gives rise to some useful, tangible pointers for prioritizing what to learn.

You’ll find the quickest wins in the bottom-right quadrant, which we’ve labeled “Learn it right away.” In here we have time-saving shortcuts that can be applied frequently, like Ctrl-Y (redo) and F2 (edit cell) and a nice combination formula that cleanses your spreadsheet of errors (IF(ISERROR)).

The quadrant “Schedule a block of time for learning it” hosts the highly useful but more complex features, such as conditional formatting and pivot tables — these were deemed the two most useful on the entire list.

Bottom-left is those less useful but quick-to-learn items like Ctrl-5 (strikethrough) and Show Formulas (Ctrl¬).

Finally, in the top-left quadrant are the theoretically least appealing items, such as Get External Data and Text to Columns.

You and Your Team Series

Learning

But for all of these, you, the individual learner, will impose your own opinions and experience on an analysis like this: “Actually, I already know Ctrl-Y, and I’ll never need to get external data.” And that helps filter out even more items, leaving you with an even more manageable list.

How would you apply this to your working, learning life? You probably don’t want to learn only about spreadsheeting, and you’re unlikely to have the kind of data we’ve used above at your fingertips. But you may have an idea of some of the skills you’d like to acquire or develop.

Consider the mix of activities in your working day. What would help you the most? Finally being able to use Photoshop, getting a grip on Agile or Waterfall, learning to write more clearly? Are there meta-skills that would help you do all of these things better — like coming across the way you intend to in meetings, or learning to manage your time more productively? You could assign approximate scores for time (to learn) and utility for each of these and plot a scatter chart like the one above. Or you could just estimate: Classify the skills on your list as either low or high in utility and time to learn, and place them in the corresponding quadrant. Either way, what shows up in the bottom-right quadrant? You may discover some learning bargains.

You can use this approach just for yourself, or across a team, department, even your entire company. Since you probably don’t have much time to learn, learn to make the most of what you have.