From the course: Cost Reduction Tips - How To Cut Costs And Maximize Profits

Unlock this course with a free trial

Join today to access over 22,600 courses taught by industry experts.

Only have brilliant meetings

Only have brilliant meetings

From the course: Cost Reduction Tips - How To Cut Costs And Maximize Profits

Start my 1-month free trial Buy for my team

Only have brilliant meetings

“

- While we're looking at where people spend their time, and therefore, the areas of cost, I think a big one we need to look at is meetings. They're always up there on the hit list of things that people hate and things that take a lot of time. Let's just think about the cost of meetings for a minute. Suppose you've got 100 people in your company, and you can put your own numbers in for this. I would really recommend that you work this out for your own organization. But suppose you've got 100 people working in your company or your organization, and suppose that you have, say, four meetings a week, and each one is two hours. That's 100 times four times two, which is 800 hours a week are being spent on meetings. Let's say times 50 weeks a year. We're up to 40,000 hours a year. That is right, isn't it? 800 times 50 is 40,000 hours a year. Now, what's the cost of an hour of somebody's time? Well, let's be really conservative and just say that they're being paid 10 pounds an hour, then that…

Contents