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Run Effective Meetings Save Time Money

Written by: Stephanie Calahan

Article Overview: The way you are running your meetings could be costing you unnecessary expense. Consider this: when making small changes, consider the multiplication factor. 5 minutes shaved off of weekly meetings of 10 people earning $30 per hour would amount to a savings of $6,259 a year. The following tips will help you think through ways to modify the meetings you are holding.

Run Effective Meetings Save Time Money

The way you are running your meetings could be costing you unnecessary expense. Consider this: when making small changes, consider the multiplication factor. 5 minutes shaved off of weekly meetings of 10 people earning $30 per hour would amount to a savings of $6,259 a year. The following tips will help you think through ways to modify the meetings you are holding.

Only Hold Truly Necessary Meetings
If you don’t need a meeting, don’t have one -- ask if there is another way (phone, email) to accomplish the goal at hand. This is especially helpful now that gas is at such a high premium. Consider virtual web discussions, or maybe you don't need the meeting at all.

Keep Related Items Together in One Meeting
Consolidate related meetings with individuals into one group meeting whenever you can, to save time.

Start at Unconventional Times
Consider starting meetings at oddball times, such as 10:10 am. You will have a better chance of getting everyone there on time rather than running in from a late meeting. If you do this, make sure to adjust your length of meeting time to 50 minutes rather 60 minutes and so on.

Ensure Key People Attend Your Meeting
If you are holding a meeting and the attendance of particular individuals will make or break your meeting, ensure their attendance through reminders and confirmations. Have an assistant call to remind attendees about the meeting, or mention it to them yourself, in conversation. When speaking to them make sure that they are aware that their attendance is critical to the success of the meeting.

Restrict Meetings
During any typical business day, there are reportedly 17 million meetings being conducted in the United States. A meeting is two or more people getting together to exchange common information. Simple enough, but probably one of the top institutional time wasters. Always ask, "Do I contribute anything to this meeting?" and "Do I get anything of value from this meeting?" If the answer to both questions is "no," try to find a way out of attending the meeting.

Great Meetings Begin With an Agenda
Circulate your agenda in advance. If you can't, write it on a flip chart or white board before participants arrive. The agenda should include: - The purpose of the meeting - The start and finish time - Meeting location - A list of who will be attending - Individual items to be covered, and action items on each.

Save Money - Don't Wait for Attendees
The cost of a minute may be more than you think. If you earn $50,000 a year, it is about 50 cents. When waiting ten minutes for someone to get to the meeting it is costing you $5.00 of your time as well as the cost of each attendee at the meeting who did show up on time. So, if 10 people are waiting 10 minutes for someone, you have just lost $50.00.

Making Announcements
Put simple announcements at the beginning of the meeting, to warm up the group.

Stand for a Change
Try holding a standing meeting -- meetings usually get to the point quickly if the meeting attendees cannot sit.

Egg Timers are not Just for Eggs
It is a good practice to set a limit for each meeting topic when you are creating a meeting agenda. When the meeting starts, either ask for a volunteer, or assign a time keeper. Give them the egg timer and every time a new topic is started, they should set the timer to the pre-defined discussion length. When the timer goes off, move to the next topic. Individuals watching a clock can also accomplish this goal, however, you may have them watching the clock more than participating in the meeting.

Remember Quiet People Have Great Ideas Too
Everyone has different communication styles. Some individuals will not interrupt a conversation or inject their thoughts unless solicited. Make sure that as a meeting leader you are actively asking for your quiet people's opinion. You will get even better synergy and collaborative results and could even eliminate having a secondary meeting.

Make Sure Your Meeting Attendees Know their Follow-ups
Give everyone a summary of the action they have to take as a result of the meeting. In doing so, you have ensured that everyone is leaving the meeting with the same expectations.

Schedule Your Follow ups
If you have follow ups at the end of a meeting, keep track of any actions you promised to take in your calendar.

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  Making Meetings Matter

Article Tags: 60 minutes, attendance, attendees, better chance, business day, confirmations, meeting time, multiplication factor, reminders, small changes, typical business, united states, unnecessary expense, virtual web, web discussions



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