What Meetings Are Really Costing You [Infographic]

Whether company meetings are held online or in person, everyone is an investment in time, money and resources. And, with most employees attending, on average, 62 meetings each month, those resources need to be invested wisely.

According to industry research, employees consider 33.4 percent of meetings to be a waste of time. Meetings are meant to be an effective way to collaborate, but they have become one of the most expensive costs within businesses and are often considered useless.

What are meetings truly costing your organization? Based on industry findings, if your average employee makes $60,000 per year and you have 100 employees:

• $1,875 is the cost of meetings per month per employee.
• $187,500 is the cost of meetings per month for 100 employees.
• $2,250,000 is the total cost of meetings per year.

This means if 33.4 percent of meetings are considered a waste of time, then $751,500 is the cost of unproductive meeting time per year.

Pointless meetings are costing your organization a lot of money. View our new infographic, “What Meetings Are Really Costing You”, to learn more about the current state of meetings, how it’s affecting employees and why it matters to your bottom line.

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Debunking the Myth – Why Working From Home is Actually More Productive

Telecommuting has been a hot topic of debate recently as employers continue to argue whether or not remote employees are productive. Despite employer concerns, there’s statistical evidence to prove why and how working from home is actually more productive. In fact, on average, remote workers are generally happier and more engaged than office workers.

While telecommuting won’t work for every employer or employee, many businesses, including Google and Intel, have had success with it. Currently, 34 million people “occasionally” telecommute, and this is expected to increase to 63 million by 2016. Clearly, this is not a workplace fad.

Here are a few reasons why working from home actually leads to higher productivity.

Remote workers are more engaged than those who work in an office.

When working in an office, there are a variety of distractions that impact productivity. These include co-workers popping into your office unannounced, dealing with background noise if you have to make a call, going to spur of the moment meetings and more. Furthermore, factoring in transportation time takes an additional hour or more off your workday.

Remote workers have the luxury of getting up, walking to their desk and starting their workday. They can easily call into virtual meetings, and they can actually work longer because they don’t have to worry about getting ready or the morning commute. As a result, remote workers can be more engaged and productive than those who work in an office.

Happy smiling young businessman working in his homeoffice

Remote workers are less stressed because there is no commute to work.

Let’s face it: the morning commute is one of the most dreaded parts of the work day, and being judged on appearance is a close second. Not only do you have to worry about getting to work on time, but you also feel the pressure to look nice on a daily basis. It can be exhausting, and it can also distract workers from what they’re there to do: work.

Working from home provides an environment where workers feel comfortable and they can focus on what they do best. It’s less stressful, less rushed and more beneficial in the long-run.

Finally, home can be a place of focus and serenity, leading to happier and more productive employees.

It’s no secret that happy employees are more productive than unhappy ones. Why wouldn’t you want to offer employees something that would make them happier? A home is something that your employees have built; it’s a place of comfort and serenity. Providing them with an opportunity to work there will certainly make them happier, leading to decreased employee turnover and increased productivity.

Many times, the struggle for employers regarding telecommuting is feeling like they don’t have control or that employees will take advantage of the situation. While these are legitimate concerns, there have also been many employees who have thrived with this type of work environment. Learn more about what it takes to make a remote work environment feasible for your organization by reading our infographic, “Best Practices for Working Remotely“.

 

The Current State of Meetings

Meetings are probably one of the most expensive overhead costs within your organization, and many are considered ineffective. However, many organizations believe collaboration is synonymous with holding meetings, which are meant to be discussions with clear results and objectives.

Here’s a look into the current state of meetings in the United States:

• On average, employees spend 1/3 of the their time in meetings.

• Most employees attend 62 meetings per month.

• On average, employees are spending 31 hours in unproductive meetings each month.

• The average meeting lasts 1 hour and 30 minutes.

• The average salary cost of a meeting is $338.

• Each day, there is an average of 11,000,000 meetings held in the U.S.

• The average percentage of meeting time considered unproductive by meeting participants is 33.4%.

•  63% of meetings are “conducted without a pre-planned agenda”.

Whether you’re an employer or an employee, those numbers might be a bit scary to read.

The bottom line is that meetings are a fact of life, so why is no one doing anything to fix them? Meetings are an investment of time and money, and they should be prioritized accordingly for employers and employees alike.

To learn more about the state of meetings, take a look at our newest infographic, “What Meetings Are Really Costing You“, below. What are meetings truly costing your organization?

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How to Cut Your Meeting Time and Increase Efficiency

Meetings are meant to be a time for employees and employers to effectively collaborate and communicate. Many times, however, meetings falls short and are seen as unproductive.

How to Cut Your Meeting Time and Increase EfficiencyThe secret to ensuring a productive meeting is to stay on topic and be efficient, or getting more done in a shorter amount of time. Here are some tips for cutting your meeting time and increasing productivity in your organization.

1. Have a “focusing agenda”.

Some agendas are too broad and aren’t really helpful. Inc. says that you should have an agenda that states a goal and has a list of no more than 7 questions. Keep it to the point and include specifics if needed.

2. Keep meetings to an hour or less.

The only way you’re going to get better at having efficient meetings is if you practice, right? Have a general rule about keeping meetings less than an hour and adhere to it.

3. Do not brief the latecomers on what’s been said.

If you’re not there at the start of the meeting, too bad. Too much time is spent of debriefing people on what’s been said. Instead, keep talking and let them catch up.

4. Assign operational roles.

Every meeting needs to have a facilitator and a notetaker. Before you get into the meeting, those roles should be defined and assigned. That way, you don’t have multiple people taking notes and you have someone in charge of keeping the meeting on track.

Incorporate these practices into your organization, and find a way to measure their success in terms of productivity. You might be surprised. Even if it helps a little, every little increase in productivity could mean a lot for your business.

Want to find out if your meetings are really productive? Take a look at out our infographic, “How Effective Are Your Meetings?”

Real Statistics That Support Telecommuting

Many business owners and employers alike have their concerns about allowing their employees to telecommute. Will they really be working? What if someone needs to chat with them? How can I be sure they will be productive? The reality is that a remote work environment is a gamble, but the state of the workplace is changing and companies need to adapt in order to attract the best talent.

Real Statistics That Support TelecommutingIn a recent infographic by Dell and Intel, statistics about the remote workplace were shared to provide some insight into what’s really going on. Here are some of the key statistics from Dell and Intel’s Global Evolving Workplace Study:

• 52% of people believe that employees working from home are just as productive or more productive than in the office.

• 50% of those who spend time working from home believe they are more productive there than in the office.

• Of the remaining half, 36% believe they are equally as productive at home as in the office, while 14% indicated less productive.

Of those that work from home:

• 40% drive less.

• 30% sleep more.

• 46% feel less stress.

Based on these statistics from the study, the perception employees have about working from home is clearly different than what employers think about its viability. While every workplace is different, the option to telecommute is a competitive advantage in attracting quality talent. And, based on this data, the majority of employees are just as if not more productive when working from the home.

The remote worker revolution is here. View our infographic, “Tips and Best Practices for Remote Workers“, to learn more about creating a successful remote work environment for your employees.