Managers and executives spend an inordinate amount of time in the estimated 11 million meetings held in the United States every day. In a survey of 1,900 business leaders, 72% indicated they spend more time in meetings today than they did five years ago, and 49% said they expect that time in meetings to increase.
Another study revealed that small businesses (fewer than 10 people) spend about 10% of their time preparing, attending, leading and concluding meetings. Larger organizations (500 or more employees) spend about 75% of their work time on these activities.
As the number of meetings increases, the quality and value of meetings can have a direct impact on an organization’s bottom line in the form of wasted time and effort, not to mention poor morale. Ineffective meetings are a cost that an organization arguably has the greatest opportunity to control.
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