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Meeting Cost Calculator

Has anyone ever said, 'I wish I could go to more meetings today'? - Matt Mullenweg

Today's blog post will show you three ways to uncover the largest time and cost-saving opportunities for your team 👇

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3 Tactics to Reduce Meeting Bloat

If you are in control of your team's meeting schedule you can apply these simple tactics:

In our scenario we will start with the following assumptions:

  • Meeting Duration: 60 minutes
  • Meeting Cadence: Weekly
  • Meeting Participant Headcount: 10 people

Let's go into detail about what this means for each tactic in isolation.

#1: Reduce Duration

The first tactic is the most intuitive one.

If your weekly meeting is scheduled for 60 minutes, reduce it to 30 minutes.

Total savings: ∂(meeting_duration) * headcount

If you have a team of 10 people this would mean savings of 300 minutes (= 5 man-hours per week).

#2: Reduce Cadence

Secondly, you can adjust the meeting cadence from weekly to bi-weekly.

Total savings: ∂(reduced_meeting_duration) * headcount

If you have a weekly meeting of 60 minutes and change it to bi-weekly you would save 1200 minutes per month (= 20 man-hours per month).

#3 Reduce Participant Headcount

Lastly, you can have only meeting participants who actively contribute to the meeting (i.e. discussion or decision making needed/etc.). The rest of the team can be updated by a written summary of the meeting.

Total savings: ∂(headcount) * meeting duration

If you reduce your participants from 10 to 5 people you save 300 minutes (= 5 man-hours) every week.

Combining the Three Tactics

You can use our free Meeting Cost Calculator to calculate the savings for your team.

In this example, I started with the initial scenario and made the following adjustments:

  • Meeting Duration: 60 minutes30 minutes
  • Meeting Cadence: WeeklyBi-weekly
  • Meeting Participant Headcount: 10 people5 people

View of the meeting cost calculator
View of the meeting cost calculator

The result in cost savings (Time | Money) is quite significant:

  • Before: 2.400 minutes | $3,392.71
  • After: 300 minutes | $424.09

By making these small tweaks we reduced the meeting cost by 87.50% 🤯

These are significant cost and time savings for your team and your business.

Make use of them.

How to Think About Reducing Meetings

#1: Identify the Largest Time Sinks

  • Talk to your team and identify which meetings are too long → shorten those
  • Talk to your team and identify which meetings are happening too frequently → reduce their cadence
  • Talk to your team and identify which meetings are redundant → cut those or reduce the participant list

#2: Substitute the Communication Flow

Regardless of meetings or no meetings you want your team to be "in the loop".

  • What: Goals; Updates; etc.
  • How: Standard Operating Procedures (SOPs); Templates; Checklists; Prioritization

The problem with most meetings is that they are purely informational (i.e. someone shares an update; no discussion).

Instead: Share updates via written updates in team comms channel or documentation.

⚡️ Pro Tip: Use meetings for highly important communication:

  • High Urgency (urgent): Problem resolution & fire fighting; etc.
  • High Importance (strategic): Career planning; All-company updates; etc.

Want to Learn More About Remote?

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Check our email-based course The 80/20 of Remote Team Leadership where we teach how to set up scalable documentation for your remote-first team 👇

https://remotefabric.com/courses/documentation

If you have any additional questions you can:

Additional Resources

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