Meetings are expensive, probably much more expensive than you think! See how much your meetings cost with the MeetingKing Meeting Cost Calculator.
For example if you have a management team with 5 people at an annual salary of $100,000 per person and they spend an average of 15 hours a week in meetings, your weekly meeting cost for only these people is $4,076 and your annual costs are a shocking $212,000! If you can reduce that by 40% you are saving $85,000 per year!
40% sound like a lot but is not unreasonable. According to the Wharton Center for Applied Research, the average CEO spends 17 hours per week in meetings, senior executives an average of 23 hours and middle managers 11 hours. And according to senior and middle managers only 56% of these meetings are productive.
The same research found that if managers use meetings appropriately they can reduce the time spent in meetings by 25%. Effective management of remaining meetings can reduce the time spent in meetings by another 20%. This translates into huge savings.
What is more, by optimizing the information and documentation flow, MeetingKing can help you to keep your meeting on track. Additional benefits of MeetingKing:
-less time required for proper preparation and follow up
-your meetings will be well documented
-easy follow up to make sure things actually get done
-powerful archive prevents discussing the same issues over and over again