Who doesn't appreciate a DIY champion who likes tackling tasks themselves? However, it's also important to consider the opportunity costs of doing so.
People often neglect opportunity costs when deciding what to take onMany of us pride ourselves on being resourceful and self-sufficient. Tackling tasks ourselves—whether preparing a home-cooked meal or taking on a complex work project—often feels rewarding. However, we may fail to account for an essential factor when deciding whether to do something ourselves or delegate it: the opportunity cost of our time.
Interestingly, this is not a case of failing to invest enough thought into the matter. Even in conditions that promoted cognitive effort, it was necessary to provide specific cues about alternative choices in order to get people to think about the opportunity cost. Recognizing the hidden costs of time also affects decisions beyond consumer purchases. For example, research from Whillans et al. finds that people who spend money to save time report higher levels of life satisfaction. Delegating isn’t about laziness; it’s about valuing your time appropriately and using it wisely.authority to subordinates for specific tasks or domains.
These factors are understandable, but none of them touches on opportunity cost. It is, of course, better to delegate to a capable employee, and it is perhaps inevitable to delegate when one is overworked, but one of the key criteria for delegation should be the relative cost and value that one’s time has.Feel It Out or Think It Over: How Body Signals Guide Choicesand satisfaction. A simple exercise might be to take a pad of paper and split it into two parts.
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