Executives, on average, spend 40-50% of their working hours in meetings – and waste at least 2 months per year.
71% of meetings are unproductive and waste more than $500 billion per year.
A Fortune 500 company estimates losses in excess of $75 Million per year due to poor meetings.
“I spend nearly all of my time in meetings,” admitted one top-team member to us recently, “and I don’t get to sit down to think on my own until after 6:00 p.m.”
Effective meetings produce better business decisions, but our decision meetings are broken.
“In a recent McKinsey survey, 61 percent of executives said that at least half the time they spent making decisions, much of it surely spent in meetings, was ineffective.”
The more technology advances (AI scheduling assistants, video calls, Slack, etc.), the easier it gets to schedule and run meetings and real time discussions.
Currently the number of meetings is increasing by 10% per year.
We’re having 4x more meetings than in 1976.
Look at the numbers for the US alone:
Daily meetings in the USA
Technology helps to break silos in companies – which is good! But one consequence is: More and more people from different units are sitting around the conference table to collaborate and make decisions. That leads to more and more meeting participants.
We have a continuously growing amount of work to accomplish! The expectations from employers are rising, there is more information coming in. At the same time we’re sitting in a rising number of meetings while the number of emails coming in during the meetings is also increasing. The inevitable consequence: Pure stress.
Meetings are crucial to establish effective communication, team collaboration and impactful leadership.
One-on-one meetings, all-hands meetings, daily stand-ups, project planning and sync meetings, sprint meetings, kick-off meetings, sales meetings, customer calls… there are plenty of meeting types that can help your organization do better – if done right.
A 15-minute meeting can save tons of emails, prevent disastrous miscommunication, and even be an incubator for fantastic ideas and innovate solutions – if done right.
An effective meeting culture:
Saves your organization unbelievable amounts of money and time
Leads to better business decisions and ideas.
Makes everyone in your team more productive and successful.
Increases your team morale.
Raises your team’s energy levels.