Meetings Cost You Money

Number of staff from my group in your meeting: 2

Number of meetings you have per year: 50

Scheduled length of meeting (what you get billed for): 1 hour

Average actionable/discussable agenda items per meeting: 0.25 (once a month)

Total cost to you for us to attend: 2 * 50 * $80 = $8000

Total cost to you for monthly meetings: $2000

Savings: $6000.

Your team’s budget shortfall (which started this whole discussion): $3000

Amount you still save after the shortfall is removed: $3000.

2 thoughts on “Meetings Cost You Money”

  1. Bob – I don’t follow your math. $80/hour times 100 hours a year = $8,000.

    Where does the budget shortfall and the cost come from? … i.e. how does $2,000 and $3,000 relate to the $8,000?

    I thought you were heading down the path of them wasting $6,000 per year (25% of the meetings are useful, therefor $2,000 is ‘worth it’).


  2. Yeah, you’re right, I just changed it so it tells the story a little better.

    They’re paying $8000 right now but, in my opinion could get the same amount of effectiveness from spending $2000 (having 75% less meetings).

    This started with a budget shortfall of theirs (of $3000), and them asking for ideas about how they could reduce their expenses…

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