Overview
Meeting Cost Calculator Practice involves calculating and displaying the true monetary cost of meetings to encourage more thoughtful meeting practices and reduce unnecessary gatherings.
Calculation Method
Meeting Cost = (Number of Attendees × Average Hourly Rate × Duration in Hours)
Example Calculation
- 8 attendees
- $75 average hourly rate
- 1.5 hour meeting
- Cost: 8 × $75 × 1.5 = $900
Opportunity Cost Addition
Total Impact = Meeting Cost + Opportunity Cost of Interrupted Work
Implementation
Before Meetings
- Calculate estimated cost
- Compare to value being created
- Decide if meeting truly needed
- Consider if fewer attendees sufficient
- Evaluate if shorter duration possible
During Meetings
- Display running cost (some tools show this live)
- Creates urgency and focus
- Encourages efficient use of time
- Motivates staying on topic
After Meetings
- Compare cost to outcomes achieved
- Evaluate if objectives met
- Decide if future meetings needed
- Adjust attendee list or duration
Benefits
- Reduces unnecessary meetings
- Shorter, more focused meetings
- Fewer attendees per meeting
- Greater respect for others' time
- Better meeting preparation
- Clear ROI thinking
- Harvard Business Review Meeting Cost Calculator
- Browser extensions showing live meeting cost
- Calendar plugins with cost estimates
- Custom spreadsheet calculators
Best Practices
Meeting Evaluation
- Will this meeting create value exceeding its cost?
- Could this be an email or document instead?
- Who truly needs to attend?
- What's the minimum effective duration?
Transparency
- Share cost calculations with team
- Make costs visible organization-wide
- Use data to drive meeting culture change
- Celebrate reductions in meeting time
Pricing
Free practice - calculator tools available online
