The cost of poorly run meetings

Would 96 billion in cost savings or added productivity make a difference to our lagging economy? I think so. To get that huge number wouldn’t require a government bailout or an act of congress. It would be much simpler. Consider a study by Bowling Green State University: Each day 11 million meetings take place in the U.S., 2.6 billion a year.  37.5% of those meetings are considered “poorly run or unnecessary”.  Factor  in the U.S. Department of Commerce’s estimate of the average hourly wage of $30, you get 96 billion a year spent on unnecessary or unproductive meetings a year. 

I cannot tell you how many times I've heard “If I didn't have to go to meetings, I'd like my job a lot more.”    The Bowling Green State University study supports that notion: Employee’s perception of meetings mirrors overall job satisfaction.

Meetings have become the bane of business.  How often have you left a meeting asking yourself: “What was the point of that? Why was I invited? Will any actions come from this meeting?” Just getting people to meetings can sometimes be tough.  One company I worked with forced late arrivers to sign a song: incentivize promptness through embarrassment.  Years ago the quality of food at Microsoft meetings determined how many people showed up: Incentivize attendance through food. There’s got to be a better way.

Because we avoid accountability, rely on tradition, buckle under office politics and lack facilitation skills, meetings have become ‘Corporate Sominex’. Well-run meetings inspire engagement, drive decisions and produce accountability.  Here are ideas how to make your meetings engaging and effective:

Meeting preparation:  Set goals for the meeting. This will determine the agenda and who should and shouldn’t attend.  In the previously mentioned study, not a single decision is made in 65% of all meetings. So cancel them and rely on email, Sharepoint  or other communication medium. In a meeting, give participants a role:  To brainstorm, help make a decision, provide feedback. Distribute reading materials 48 hours prior to the meeting. Attach a standard agenda sheet that clarifies the reason for the meeting, desired outcome, who’s asked to attend and why.

During the meeting  Establish and follow meeting code of conduct. Start by reviewing the anticipated outcomes and agenda.Facilitator keeps discussion on track. Avoid PowerPoint at all costs: They distract more then they engage. Involve each participant in the discussion by calling out quieter individuals. Determine next step actions by clarifying who “owns” the actions and when they are to be completed.

After the meeting Publish action item list within 24 hours. “Owners” of action items schedule time in their calendar to complete their items. 

Researcher Steven Rogelberg said 80% of the time in meetings is devoted to less than 20% of company’s long-term value. So, without having to lay people off or make major expense cuts, companies can see real improvement in productivity by making meetings more effective and engaging.  To measure how much your meetings are costing you visit the free Productivity Meeting Calculator at http://www.simplifiedsolutionsgroup.com/mcp/