Unless you work by yourself all the time, chances are good you have to attend meetings occasionally. Some of us spend more than half our time in meetings. While meetings can be an excellent way to share ideas and create common solutions, they can also be a waste of time when they aren’t run well.
Sometimes meetings drag on too long, get off topic or include people who shouldn’t even be there. There are also times when a meeting could have been effective, but no one came prepared.
Use a Meeting Cost Calculator
Do you know how much money meetings cost your organization? To estimate this cost, we have a helpful meeting cost calculator on our website.
On the calculator, enter the following information:
- duration of the meeting (in minutes)
- number of participants
- average annual salary of participants (in thousands)
- meeting incidental costs
Then click calculate for an estimated cost of your meeting. The cost isn’t a problem if the meeting is effective and productive. But if it isn’t a useful meeting, you can see how much money you may be wasting.