Too many meetings waste your time and cost you money

Companies are waking up to the fact that many meetings are a huge time-suck for staff and a waste of resources

In this edition of the CB Elevator Pitch, editor-in-chief James Cowan suggests companies need to take a hard look at the number of meetings employees are having—or being forced to attend. Getting 10 people with an average salary of $80,000 in a room for one hour costs $560. Did they all need to be there? Was that an effective use of everyone’s time? Likely not. There are handy online calculators that help you estimate the cost in staff time of that meeting you’re contemplating, so we suggest doing the math and inviting only the most crucial people, or finding another way to have that conversation. Employers have locked down things like office supplies to save costs; it’s time to do the same with our time.