Have you ever realized that there is a significant cost associated with meetings and the number of people invited to those meetings?  Consider an average salary of 100K per employee for the 8 employees invited to an hourly meeting.  This equates to $50/hour/person i.e. $400/8-person meeting.  Add to it 2 hours of prep-time for 2 out of the 8 people, leading to approximately $600/8-person meeting.  If this group meets daily for an hour, it equates to $3,000/week or $156,000/year.  Bet that is not what you consider when weighing the pros and cons of setting up meetings (I am sure at times you have good reason not to; some projects warrant frequent meetings).  But I suggest giving those frequent meetings and list of attendees a critical eye just to ensure no one’s time is being wasted.

The message through this illustration is pretty simple – minimize the number of meetings needed, invite only those whose participation is required, and lead meetings with a purpose.  Realize that at times going back n forth on a particular thought, idea, requirement, task or issue may not even be worth everyone’s time.  By this I am not suggesting don’t discuss these items; by all means discuss them but tune yourself to see when the discussion turns into a futile battle of wits and as the PM or meeting facilitator step in when the need arises.  Stress this point to the attendees and refocus the group, trying to lead the discussion to a firm decision either by consensus, compromise or authority.

Off late, I have seen numerous organizations continue to lay off employees even though the work load has increased significantly.  So, as organizations strive to get more out of each employee, and try to boost productivity, it is even more crucial to be judicious with the use of everyone’s time.  Treat it like a scarce commodity and spend it wisely.

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