Meetings Waste Money, And Now You Can Calculate Just How Much
|Photo Credit: Flickr Text100|
Senior executives say more than half their meetings are "ineffective" or "very ineffective," a recent Bain & Company survey found. One large company studied by the consultants wasted a total of 300,000 hours a year as a result of just one weekly executive meeting, such was the "ripple effect" of one meeting leading to another. Moreover, Bain says the problem is getting worse. The amount of time devoted to meetings has increased each year since 2008, partly because meetings are now easier to organize and, because of video-conferencing technology, we no longer all have to be in the same room.
Harvard Business Review
How much does all this undirected activity cost? For an answer, take a look at this useful little calculator created by the Harvard Business Review.