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Take the hourly rate of each person in the room, add them together and multiply it times the number of hours you are meeting. It adds up fast!
Take a firm where you have shareholders, administrative assistants and everyone in between in a meeting for an hour. The average hourly salary in the room is $100/hour. $100/hour X 32 = $3200.
$3200.00
FOR A ONE-HOUR MEETING!
Adding to the cost is the fact that meetings are time consuming and time is money. Everyone has a shortage of time so it’s imperative to find solutions to make the meetings that you have as effective and concise as possible so that you may go back to the business at hand.
You have to ask yourself; “Is it worth it?” Didn’t think so.