Meetings are ubiquitous in today’s organizational culture. Some organizations even have meetings to plan future meetings. But what does all this meeting time mean to your organization as a whole? Or, perhaps more telling, what does it mean to the country and the economy? Data pulled from professorial and private studies give insight into what all of these meetings really mean.
It may not come as a surprise, but meetings are costly, lack preparation, and most frequently start at 11am.
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Keep in mind that the average $338 salary cost per meeting is an adjusted average that does not include high-paid CEOs and other business leaders. Those meetings can cost upwards of $20,000 per event.
Staff, task force and information sharing meetings are the most common meeting type. They account for 88% of total meetings held.