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How much do meetings cost your business each year?


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When you work in a larger organisation it can be impossible to avoid holding or attending regular face to face meetings. These may be team briefs, project reviews, performance analysis or updates of goodness-knows-what. Sometimes meetings can be very useful; however, most of the time they are completely pointless and counter-productive.

Research conducted in 2013 showed that travel costs, time spent on the road and in face-to-face meetings cost UK companies a staggering £15,979 per head, every year. As a result, UK SME businesses are potentially wasting £637,000 per annum on meetings, which could be held via conference call.

It is estimated that on average business professionals will attend 207 meetings per year, which could add up to a total of 636 hours! With most internal meetings involving six employees, it is not unusual for just one meeting to cost £394.80 (when you consider room hire, beverage provision, salary costs, travel costs as well as time lost in productivity). However, there is a cost-effective solution, and that is the humble conference call.

We know that having a conference call instead of a lunch time meeting in a swanky city restaurant is not as much fun, but it is unlikely to cost you any more than a few pounds to hold (bar productivity losses of course). However, because of the nature of the set up conference calls tend to be more focussed, with people determined to get to the point, reach an agreement and move on.

When you hold a conference call at your desk you will be reminded of other things that you need to be getting on with. One argument says that this could be a distraction, but in actual fact in can simply serve to remind you that time is precious, you have a lot to do, and therefore you need to get to the point. It can also help encourage other members of the call to do the same.

Asides from the cost of travel, and the time it takes to get to that restaurant there is also the fact that many employees report that they are generally less productive on days where they are required to leave the office for a meeting. No matter when the meeting is held, it is likely to cause a not insignificant disruption to the working day. Either the employee will need to prepare for it, and be unable to start any new work topics in the time leading up to their departure, but equally it will take them some time to refocus and get settled back in to the work routine upon their return.

This doesn’t happen with a conference call. You don’t have to go anywhere, you simply need to check in at the allocated time and be present. It is far less intrusive and will have a much lower impact on the rest of the working day.

If you think audio conference calling may be able to save your business time and money, and therefore improve productivity simply speak to the team at Diamond Solutions today, we will be happy to help.


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