Meeting Cost Calculator
Calculate the true cost of meetings including preparation time. Understand how much your organization spends on meetings and identify opportunities to optimize.
How do you calculate meeting cost?
Meeting Cost = Hourly Rate × Number of Attendees × Meeting Duration (in hours). For example, a 1-hour meeting with 5 attendees each earning $50/hour costs $250 (5 × $50 × 1). Include preparation time by adding the product of prep hours and attendee count.
What is a good meeting cost benchmark?
Research shows the average employee spends 4-5 hours weekly in meetings, with organizations spending 1-3% of revenue on meetings. Enterprise companies often have higher costs. Track your meeting costs monthly and aim to reduce unnecessary meetings by 20-30%.
How can I reduce meeting costs?
Strategies: eliminate redundant meetings, reduce attendee count (invite only essential participants), shorten meeting duration, use async communication for updates, implement no-meeting days, require agendas, record meetings for on-demand viewing, and consider whether the meeting could be an email or Slack message.
Should I include executive salaries in meeting cost calculations?
Yes, include all participants regardless of level. However, use different hourly rates for different groups if needed. For executives, use their fully loaded cost (salary + benefits + overhead). Higher-paid attendees significantly increase meeting costs and justify stricter attendance requirements.
How often should I track meeting costs?
Monthly tracking is ideal for identifying trends. Weekly tracking for teams with frequent meetings. Create a quarterly report to show leadership the total meeting spend and potential savings. Use this data to justify meeting policy changes and demonstrate ROI of meeting reduction initiatives.