Rethink your meetings, businesses told

Businesses should consider working out how much they’re spending on meetings and try and curb costs if possible, an energy expert has said.

Commenting on research from the Harvard Business Review (NBR) which found senior executives can spend as much as 40 per cent of a working week planning meetings, Sarah Musgrove of Opus Energy said it’s “important” that companies ensure they know how much meetings are affecting their bottom line.

Musgrove said: “It’s important to work out how much meetings in your organisation are costing you.

“Think about the duration of the upcoming meeting, how many employees are attending and the rough hourly rate of each employee, and try to repeat this for all the meetings you are aware of in an average week. You’ll then easily be able to see the cost each meeting is having on your business, and whether you should cut down on the daily catch-ups.”

The HBR study found that one organisation was spending the equivalent of $15 million a year on a single, weekly meeting of mid-level managers.

HR News writer Lisa Baker said there are plenty of things companies can do to help make meetings that little bit more efficient.

“Don’t feel obliged to talk for two hours just because you have a room booked for two hours,” she said.

“If you meet your premeditated accomplishment early, then you can wrap it up. If you haven’t achieved this, you know you have a bigger project on your hands.”

Baker also recommended keeping everyone on the same page by sending a shared meeting agenda around.

“Tick off each item, and then consider sending minutes after so all in attendance know what action is taking place as a result of your discussions,” she said.

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