How effective are your meetings? If your meetings feel unproductive perhaps it’s time to count what those meetings are costing you. Most people look at meetings as a waste of time, and too often they are. But unproductive meetings are not only a waste of time but a waste of money as well.
Imagine for a moment that you have a one hour meeting each week with seven of your employees. Of those seven, one makes an annual salary of 80K, another makes 60K, two make 40K and three make 25K. This would be $38.46, $28.85, $19.23 and $12.02 per hour respectively. So your meeting adds up to an investment of $139.83/hour for your organization. Since that meeting is a weekly occurrence that means your organization is paying $7271.16 each year for those employees to meet..
So here’s the question: Are you getting the biggest bang for your buck from your meetings?