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.