The impact of bad meetings on your business

Meeting Habits

You know that feeling when you get invited to a meeting that you don’t really know why and not sure how you can best contribute.

You accept the invitation just to find out it was a waist of your time.

How much time do we waste in meetings?

• Most employees attend an average of 62 meetings per month
• Executive on average spend 40-50% of their work house in meetings
• There are more than 3 billion meetings per year
• There are more than 11 million information meetings PER DAY in the U.S
• Executive average 23 hours per week in meetings where 7.8 of those hours are unnecessary and poorly used which equals to over 2 months per year wasted
• 33.91% of all meetings are waited

How much money do meetings cost?

• $37 billion a year in the U.S
• A Fortune 500 company estimates losses in excess of $75 million per year due to poor meetings
• A meeting between several manages or executive may cost upwards of $1,000 per hour in salary costs alone

How effective are meetings?

• 9 out of 10 people daydream in meetings
• 25% of meetings are spend discussing irrelevant issues
• 50% of people find meetings unproductive
• 73% of employees do other work in meetings
• 75% of people have received no formal training on how to conduct a meeting

This perspective has been widely talked about in the past, but even today you can see the effect it has on the hours studies on productivity.

We see many client environments change to use technology rather than travel to more meetings. Take Skype and compare the relative cost of a meeting when the parties don’t need to travel

With video and audio being sent over any distance for hundreds of meetings that never need take place in a real boardroom.

Audio visual conferencing is both an affordable and realistic method to reduce cost and save valuable time.