A new study has found that unnecessary meetings are hurting companies’ bottom lines, big time.
The study, which involved over 632 workers, found that companies with at least 5,000 employees could save more than $100 million per year by ditching unnecessary meetings, while companies with less than 100 employees could save nearly $2.5 million. This means all of those ‘meetings for the sake of meetings’ average out to about $25k lost per employee.
Cutting meetings could benefit both companies and employees. In addition to the potential cost savings for companies, the findings underscore concerns that workers have been voicing about productivity for some time. Especially since the Covid-19 pandemic, employees have shown an increased focus on having a better work-life balance and not wasting time on things like commuting.
Personally, the study I’d like to see is how many hours a year companies lose just on employees saying “I think you’re on mute” and “can everyone see my screen?”