Unnecessary meetings in business waste time, money and resources. Surprisingly, many small to large companies are guilty for having such unproductive and unneeded meetings at will with no ground rules for setting meetings. Researches show that a one-hour meeting which includes 10 employees cost around 250 euro. And approximately 80% of those meetings provide nothing of importance.
A good way to address this is by first measuring meetings in terms of cost per hour. You do this by counting the employees in each meeting and their respective salary. When you have enough sample (the more the better), you categorize the meetings and determine if they offer approximately the same or more value than their respective cost. If one doesn’t, in the future you either remove people that are not needed in the meeting or decrease the time period of the meeting. The next step is to discard meetings that are completely unnecessary.
A company should have a policy for meetings that ensures an agenda, minutes of the meeting and the people that are attending the meeting. By only doing this, you remove arbitrary meetings and as such you save money, time that can be used in the more important parts of your business.