Productivity tip #6: Calculate the cost of your meeting and act accordingly

Planning a meeting?

Multiply the number of minutes you plan on speaking by the number of people attending the meeting and ask yourself:

Is the information that I am presenting worthy of the amount of salary and lost productivity that your meeting will cost?

For example, if you are conducting a meeting with 20 people that will last 90 minutes, you just cost the organization 30 hours of labor.

There are times when this is a wise investment.

There are many, many times when it is not.

Before calling a meeting, ask yourself the following questions:

  1. How many hours of labor will this cost my organization?
  2. How much is one hour of labor worth to my organization, both in monetary terms as well as lost opportunity costs.
  3. Is the goal of the meeting worth the investment?
  4. Are these hours and dollars better served in some other way?
  5. Could the information being conveyed in this meeting be disseminated in a more efficient way?

If the numbers and the rationale equate, conduct your meeting.

If they don’t, cancel your meeting immediately for the sake of productivity.