People who don’t have the authority to buy paper clips call meetings every day—at an enormous cost.
What does a meeting cost you?
More than you think.
I recently sat in on a meeting attended by 12 people. The meeting lasted 2.5 hours. That meeting cost $12,250, or $82 per minute.
Since nobody had to write a check for the meeting, the cost went unnoticed. And that is exactly how people get fooled. It might have seemed the meeting was free, but in fact it was very costly.
During the meeting (yes, it was a boring meeting) I did a quick calculation, adding up everyone’s annual salary. I divided the total by 2,000 (average working hours in a year) and then multiplied by the time we all sat there. The total was read more »