Cost of Meetings - Examples
(For more information on the assumptions used in these calculations see Notes on calculations)
Three examples are give here:
becomes 1.5 - see note on meeting overheads)
we assume an average personnel cost of $100/hr per person, this meeting costs:
2: Small Marketing Co.
total of (2 x 5 x 1.5) = 15 person-hr consumed by meetings each day
If we assume an average personnel cost of $80/hr per person this meeting costs:
Example 3: Telecommunications company
total of (4 x 6 x 1.5) = 36 hr consumed by meetings each day (excluding
preparation and follow-up - and the occasional overhead presentation
If we assume average personnel cost of $90/hr per person, these meetings cost:
We suggest that for each hour attending a meeting, each person will spend an average of at least 30 minutes in preparation for, follow-up or "wind down from" the meeting. Some attendees will spend considerably more.
Having seen these startling figures (for the telecommunications company - three quarters of a million dollars, give or take a few) you may decide it's time to change the situation.
Is it worth investing one tenth of those costs once, with the expectation of
cutting them by one quarter each year? Cutting by one quarter means shaving off
15 minutes from each hour of each meeting - not an excessive claim?
Invest (one tenth)
this year to
Save (at least one
$70,000 next year, and the next...
- Is there a high risk in trying the system to verify the potential savings? (Contact LGA and let us discuss it with you).