Stuck in another time consuming, unproductive meeting? You are not alone. Harvard Business School historian, Nancy Koehn recently reported findings that there are 11 million meetings across the country EVERY day. Most frightening is that HALF of those are reported as unproductive and potentially waste companies $37 billion each year. While that should shake the ledger of even the toughest CFO, more findings from MCI Conferencing show that an astounding 90% of attendees daydream during meetings and 75% bring other work while being forced to sit through wasted hours. And with no tangible outcome or decision made? Better have another meeting!
It seems that technology may be the trigger for this wasted unprofitable time spent in meetings. Koehn reports that email makes it easier to invite colleagues to a meeting and therefore waste more people’s valuable time. So more people are being included in meetings that are unnecessary and expensive. And any information that comes out of such meetings is lost in an extensive email chain or handwritten in a notebook. Meetings should focus on the outcome with all employees being able to contribute.