4 Essential Keys to Stop Wasting Time and Money in Meetings: How to Engage, Empower, Excel (and stop wasting valuable time and money)

Leading Your Best Life with Leigh Farnell

According to research by Business Insider, $37 billion is wasted annually in the U.S. due to ineffective meetings.

30 Statistics about meetings you will find very interesting:

1. The average employee attends 62 meetings a month
2. Meetings take up 15% of an organization's collective time
3. Executives spend an average of 23 hours a week in meetings
4. 71% of senior managers believe meetings are unproductive and inefficient
5. Only 50% of employees feel their ideas are heard during meetings
6. Over 60% of employees multitask during virtual meetings
7. An estimated 50% of meeting time is spent on irrelevant topics
8. Female employees are interrupted more often than male employees during meetings
9. Employees who sit closer to the meeting leader speak more often than those who sit further away
10. The average cost per hour for a meeting room is $$50-$$100
11. The average cost per attendee for a meeting is between $$500-$$1,000 per day
12. Companies with fewer than 50 employees waste an average of $18,000 per year on unproductive meetings
13. Organizations with over 100 employees waste an average of $420,000 per year on unproductive meetings
14. Only 37% of organizations track the productivity and effectiveness of their meetings
15. Meetings scheduled in the afternoon tend to be less productive than those scheduled in the morning
16. More than half of all attendees say they need to attend fewer or shorter meetings to get work done
17. Employees spend an average of four hours preparing for status update meetings each week
18. Only one-third of all surveyed workers said their companies had rules about tech use during face-to-face company gatherings.
19. Nearly half (47%) of workers said they’ve attended a meeting that was so long it made them fall asleep.
20. About two-thirds (67%) admitted to doing other work while attending a video conference.
21. Approximately three-quarters (74%) said they’ve been distracted by someone else’s screen during a video conference.
22. Online collaboration tools can increase team productivity by up to 30%.
23. The majority (86%) believed that technology has improved communication within teams, including remote colleagues.
24. A survey showed that nearly half (49%) felt they would be more productive if they didn’t have to attend as many company-wide gatherings.
25. Most respondents (56%) think it’s harder to stay engaged when attending online events compared to in-person ones.
26. A study found that people who frequently attend lengthy business gatherings were more likely to suffer from depression and anxiety symptoms.
27. One survey found that only around one-quarter (28%) thought most business gatherings were productive.
28. Studies have shown that asking everyone at a gathering if they agree with something before taking action can lead to better decision-making outcomes.
29. An analysis showed that workplaces using video conferencing can save up to $11 million annually on travel costs alone.
30. A study found that having too many people involved in decision-making at once can slow down the process and reduce efficacy by nearly one-third.

Imagine, however, if meetings could live up to their potential as a place for problem-solving, decision-making, generating insight, and strengthening relationships. Meetings could be the solution rather than the meme-worthy problem.

Meetings are not a spectator sport.

That's what we talk about in this podcast where we give you 5 powerful tips to make your meetings much more S.M.A.R.T and way less D.U.M.B.

Want help with your meetings and your people - go to our website www.pdc-growth.com

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