Do you want to know how much money those long, boring, unproductive and inefficient meetings you have to sit through actually cost your company? BNET introduced a new tool called The Meeting Miser from PayScale that can help you get the answer.
The Meeting Miser tool allows a user to type in the titles of the people attending a meeting and their locations. Then, with a click of the Start and End buttons, The Meeting Miser calculates the total cost of the meeting in terms of salaries thanks to PayScale's compilation of over 8.5 million user-submitted salary profiles from over 100 different industries.
Marketing teams are particularly famous for having countless inefficient meetings. Could The Meeting Miser help leaders ensure their meetings are more productive. Working in large companies, one of the biggest problems I witnessed in meetings was employees simply not showing up to them despite their acceptance to a meeting invitaiton or employees attending a meeting who are completely unprepared. However, I've also been in far too many unnecessary meetings to count as well. Could The Meeting Miser save us all from day planners filled with meeting after meeting?
Not only are meetings themselves too often inefficient, but they also affect each attendee's productivity simply because those employees have to be away from their desks and lose time on the work that is waiting for them. It's a vicious circle. Many companies are simply too meeting happy. Executives and management need to make a concerted effort to reduce unnecessary meetings. Maybe employees won't have to work 60 hours per week (or more) if they didn't spend 50 of those hours in useless meetings.
I should note that even though this post sounds "anti-meeting," I'm not truly against meetings. However, I am against the excessive scheduling of meetings that dilutes their effectiveness.
What do you think? Will companies actually use a tool like The Meeting Miser to increase efficiency and reduce costs?
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