Your employees don’t know how much a meeting costs, do you?

Pop quiz: what do you know, but your employees don’t remember?

Yes, that’s right.

They tend to forget that meetings cost money. How much? You can use the MEETING CALCULATOR below, prepared by Harvard Business Review, to find out exactly how much your employees’ cost:

And that’s even before we factor in what you know that happens in most meetings:

  • Employees show up late (how else could we tell how busy they are?)
  • Many meetings suffer from interruption from other company employees who either need one of the participants “just for 1 minute” or “have an emergency”.
  • Most people use either their mobile phone or laptop to send and receive emails, messages and check social media.
  • In many meetings, more than a few of the invitees do not really have to be there.

The bottom line is, that meeting cost a lot of money – and your employees are not mindful of that. Why? Very simple: they cannot see the costs. They have an annual contract, and the offices have a multiyear lease. They have no way of telling how much a 2-hour meeting of 9 people would cost, nor do they have a trigger to think about it.

What should you do to get them to focus, to be on time, to invite only the relevant people and not check their mobile phones?

Send them to an external meeting room, where they know time equals money.

While they usually don’t think about the fact that their meeting could easily cost you $1,000, they would pay a great deal of attention once they know you’re paying $98 dollar an hour for a meeting room.
Then, everyone would be on time, they won’t mess with their phones, only the relevant people will be invited and no outside interruptions will occur.
Why? Because no one likes to waste money.

In sum, make the cost of the meeting apparent, and see your productivity grow.

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