Having a meeting can cost more than you think

Written By
Patrik Björklund
Patrik Björklund
Published
June 16, 2023
Topic
Meetings

Meetings and communication are central elements of every business, but often they are not as effective as they should be. Long and unclear meetings that drift off into sidetracks and anecdotes can lead to lost time, decreased productivity and frustration among participants.

In this article, we discuss how more effective meetings and more focused communication can be the key to a more successful and productive work environment.

Hidden costs

Time

When a large part of the working time is spent on meetings, it usually means that there is less time to focus on the core tasks.

Ineffective meetings with long discussions and repetitions can also lead to employees experiencing stress and frustration, which in turn can affect the working environment and the health of employees.

Resources

Meetings often require companies to provide resources such as premises, technical equipment and consumables, which generates costs.

In some cases, external consultants or facilitators may also need to be hired to lead meetings, which entails additional costs.

Moving to and from meetings, especially when they are held in places other than the workplace, can also involve significant costs in both time and money.

Absence of results

Another problem with meetings is that sometimes they do not lead to concrete results or decisions. This may be because the purpose or agenda of the meeting is unclear, or that participants do not have enough information to make informed decisions.

When meetings do not result in concrete action, it can lead to frustration and a feeling that time has not been put to the best use.

Opportunity cost

When employees attend meetings, it means that they cannot engage in other tasks that could generate value for the company. This opportunity cost, or “opportunity cost”, is a hidden cost that can be difficult to quantify but still affects the company's bottom line.

Checklist to create more effective meetings

To minimize the hidden costs of meetings and create more efficient and value-creating meetings, the following simple checklist can be used:

- Is the meeting necessary?

Before scheduling a meeting, one should critically review whether the meeting is really necessary or whether there are other, more effective, ways to communicate and make decisions, such as through email, chat, or project tools.

- Does the meeting have the right time and length?

By setting a time limit for the meeting and adhering to it, we can ensure that the meeting does not drag on and that participants can focus on the most important points.

Avoid scheduling meetings too late in the day or too early in the morning, when participants may not be on top.

But beware - for some, the opposite may be the most effective, especially for professional roles where deep concentration over a long period of time is needed.

- Have we prepared the meeting correctly?

A well-prepared and structured meeting with a clear agenda and objectives reduces the risk of the meeting becoming inefficient and time-consuming.

By preparing participants with relevant information and materials in advance, the decision-making process during the meeting can be more effective.

Does the technique work?

To reduce travel and time costs, consider using digital meeting platforms and video conferencing whenever possible and appropriate.

Try the technology before the meeting kicks off and make sure that all participants can connect and use the technology effectively.

- Is the meeting tailored to the participants?

Make sure that the meetings are tailored to the communication styles and preferences of the participants. This can contribute to a more efficient and engaged work environment.

Some people think out loud, others think silently. Some can make decisions on a standing foot, others need time to reflect. Some thrive on cold talk, others want to be brutally focused. Think about who is attending before the meeting starts.

By creating opportunities for informal conversations and social interaction outside the meeting room, we can maintain a positive corporate culture that optimizes productivity during our meetings.

Find a balance between creating an effective work environment and maintaining a certain level of personal engagement between colleagues.

- How do we intend to follow up and evaluate?

After the meeting, ensure that there is a clear follow-up and division of responsibilities for the decisions made.

Also evaluate the meeting to continuously improve and optimize the meeting structure and efficiency.

Feel free to ask for feedback from participants to get a better understanding of what worked well and what can be improved.

Summary

By creating more effective meetings and focused communication, we can minimize some hidden costs for the company, increase productivity and improve collaboration between colleagues. This leads to a more successful and prosperous work environment for all involved.

Free eBook
Everything from what standards require to how you implement a project to establishing a certifiable management system.
Thank you! You will soon receive an email from us!
Oops!

Something went wrong.

Get in touch with support@ampliflow.com.
Free e-book
Sve od što standardne zahteve za kako možete implementati projeći na upravljiva upravljački sistema.
Thank you! You will soon receive an email from us!
Oops!

Something went wrong.

Get in touch with support@ampliflow.com.
Do you need help getting ready for ISO certification?
AmpliFlow can help you with everything you need to achieve certification. From smart IT systems to project management, training, internal auditing and much more. Book an appointment today to find out more!
Thank you! We will hear from you soon!
Oops!

Something went wrong.

Get in touch with support@ampliflow.com.
Articles

More articles

Tools, information and other resources you need.
Management System

5 concrete actions to improve your management system and save money!

Discover five concrete actions you can start implementing as early as Monday to avoid common mistakes in your management system and save money.
Patrik Björklund
July 5, 2023
A.I

Things you need to know as a business leader about generative AI

Don't wait for AI to impact your business — take control of your future and minimize risks by partnering with us.
Patrik Björklund
October 3, 2023
ISO audit

A Guide to ISO Audits: Step by Step

An ISO audit is a systematic review of an organization's operations and procedures to ensure that it meets ISO standard requirements. The process includes document review, interviews, review of processes and supporting functions, and formulation of deviations and observations. The result is a report that demonstrates the organization's compliance with ISO requirements and provides guidance for improvement.
Joakim Stenström
May 21, 2023

Do like other happy customers - get AmpliFlow

Schedule a meeting today to discuss how we can help you with systems and/or support.