There’s a hidden cost of crappy meetings and some of us are starting to realise just how much this cost really is.
Hot on the heals of our recent ugly truth about meetings blog we wanted to explore this underlying cost the vast majority of us are paying. There’s a number of distinct sides to this, first and for most people most importantly is the financial cost. Second, there’s the cost to our wellbeing and there’s also the potential environmental cost. This week we explore each one in turn, hopefully it will open some eyes to what I guess a lot of you out there already suspect.
Meetings are unproductive, that costs money.
When surveyed executives consider nearly 70% of meetings to be unproductive. That’s more than two thirds and to put it into context the infographic we recently published put a figure on this, $37 Billion in the US alone. Let’s spin that on it’s head and assume we stopped having half of those unproductive meetings that could be nearly $20 Billion saved.
It’s estimated that across organisations the amount of time spent in meetings equates to around 15% for all employees. As you move up the ranks that increses dramatically to upwards of 50%. The meeting time is one thing but executives estimate they spend upwards of 4 hours on meeting prep. So again if the 70% figure for meetings being unproductive is true more than 30% of an executives working time could be considered unproductive, because that’s the time spent in crappy meetings.
This is quite frankly stark. It’s hard to pin down exactly what’s to blame. It seems somewhat of a cop out to suggest it’s purely down to the technology, a meeting run well via a video conference is still a well run meeting. What is apparent though, that like most technology we’ve adopted, certain practices have become commonplace without thinking about the wider context and the impact they have as a whole. It seems there’s a symbiotic relationship between the ease of facilitation and the effectiveness of outcomes.
As a marketer the psychology is quite simple to me, things that are easy are often assigned a low value and perhaps this is where we’ve gone wrong. Meetings used to be about productivity and outcomes but we seem to have shifted to a place where meetings are more about having meetings because it’s so easy to have them.
It’s a dangerous place for corporations to be.
Meetings impact on wellbeing.
Employee wellbeing is becoming more and more important to organisations. They realise that happy, engaged employees are more productive, more motivated and less likely to look for employment elsewhere. Crappy, unproductive meetings do nothing to assist. In fact multiple surveys suggest that having better meetings is a route to improving employee wellbeing.
It’s not to be underestimated. Count up the sick days, the drain on talent in an organisation and general lack of productivity and I bet you will find a correlation to bad meetings. It’s a survey that needs to be done, watch this space!
It’s sadly no coincidence that the phrase “A happy workforce is a productive workforce” is certainly very true. The quickest way to mess it up is to disengage the workforce and bad meetings are a quick way to do that. They aren’t the only factor but like many things in our working lives they contribute to the sum of all the other issues and can certainly tip the scales.
Jeff Bezos certainly thinks so. He avoids meetings before 10am, limits attendance to the number of people that can be fed by two pizzas and has banned Powerpoint!
What’s the environmental impact?
This is probaly harder to quantify especially as a huge number of meetings take place remotely. However as the technology has become a part of our working lives there’s always a cost. Server farms create pollution and we certainly need lots of those to power the tools we take for granted.
Technology requires power and for the most part we still rely on power sources that are not very green. Great steps have been made by corporations to buy power from renewable sources but it’s only the tip of the iceberg.
…data centres in the U.S. alone are projected to consume approximately 73 billion kWh in 2020. Data center efficiency and sustainability is a universal challenge that transcends companies, geographies, and workloads – and there’s no simple solution.”Colocation America
The technology infrastructure required to support these systems is immense. A large data centre can use more power than a small town. Sadly this way outstrips the capacity delivered by renewable energy. It’s a big issue that’s rarely reported because it’s to a large extent invisible.
It’s not all bad news.
Amazemeet aren’t alone trying to fix this. The hidden cost of crappy meetings is starting to be understood by a host of organisations for whom productivity is vitally important and meetings are squarely in their radar. We’re doing our bit because we know we have to have meetings, we want to make the unavoidable ones great and cut out the unproductive ones where we can.