Ever wondered how much it costs your business to have a number of people in a meeting? Well wonder no more! Recently I was reading the Harvard Business Review and came across this fantastic tool – a meetings calculator!
No more having to work it out in your head. All you need to do is enter the length of the meeting, along with the number of people attending and the salary of each of these people and VOILA! It calculates the average cost of having each person at the meeting.
So, what is the benefit of this I hear you ask?
Well it is a good place to start in terms of determining what you need to achieve in that meeting for it to be deemed a good investment of time for those attending and thus the business. Many meetings I observe don’t achieve a satisfactory return on investment – the results are not in alignment with the cost of having the relevant people in them.
This calculator helps all those preparing and attending the meeting to realise there is an impact on the business if the meeting does/doesn’t reach its outcomes.
Have a play! It is a terrific little tool.