In our society today, many believe that time freedom is a better measure of success than money. This is especially true in the younger generation. Millennials on average will choose meaningful work that offers growth opportunities over a raise.

Our society does seem to have a shifting view that time freedom is the new flex. Let’s be honest. Who doesn’t want more money, time freedom, and happiness in their life?

The only problem with this is it still takes money to live so money needs to be acquired in some capacity. At the end of the day, it takes money to earn time freedom.

At RHI, we believe time freedom is defined as the ability to spend your time doing what you want.

For many, time freedom is the end game and money will get them there eventually. They believe they must give up their time now to earn freedom later.

For the younger generation, there seems to be a different approach. Time freedom is balanced with earning money. This is the reason remote jobs have become more popular. For them, it is about creating time freedom, growth opportunities, and a work-life balance simultaneously.

For many entrepreneurs, the businesses they create can often turn into a time freedom trap.

A business can bleed you dry if you do not know how to find your people and delegate. But even those individuals look to their leaders to create time freedom opportunities for them. They want to work remotely, spend minimal time traveling for work, and have flexibility in their schedule.

So, how do you create time freedom for yourself and for your employees?

We believe the key is creating clearly defined responsibilities and goals, clear procedures and processes, effective communication, and transparent accountability. Everyone on the team must maximize the time put toward these areas so everyone can then have the time freedom to go do the things we want. This is witnessed in our culture at RHI by working smart and playing hard.

Time can be given to make more money, but no amount of money can buy more time. As leaders, it is important to understand employees’ vision for their life. Many of them want the same things we want as entrepreneurs. The hard part is finding the balance for those that want to make money and have time freedom simultaneously.

The main thing we learned as leaders is that you need to communicate with your people often and continue to invest in them and help them build the life they want. If you can do that well as the owner, it helps fulfill your life vision too.