Meetings are a significant source of waste in any goal-seeking enterprise. While meetings do have some real value, they are also quite costly, with estimates ranging from $300 to $550 per meeting participant per hour. Those costs do add up fast. Some meetings are essential, but many meetings are pure waste.
11 million meetings are held each day, which means that 55 million meetings are held per week, and 220 million meetings are held per year.
15% of an organization’s time is spent in meetings, which has increased every year since 2008.
Our Beacon™ product facilitates real-time coordination at scale. This allows you to eliminate most of your meetings and reduce costs, as you scale coordination (and results) globally.
The annual cost of coordination for every 10 teams is close to 3.7 million dollars per year. Don’t believe it?
SEE FOR YOURSELF:
Click here to download our meeting-cost calculator in Excel , so you can plug in your own numbers.
Here’s a few links to articles that estimate the direct and indirect costs of meetings:
- A Summary of Key Data on the WASTE of Meetings: https://otter.ai/blog/meeting-statistics
- The Actual Cost of Meetings: by the numbers: https://www.worklife.news/culture/the-true-cost-of-meetings-by-the-numbers/
- Meeting: A Major Source of Waste: https://www.flowtrace.co/collaboration-blog/do-meetings-cost-money
Get started with Open At Scale’s Beacon™ product today.