If you don’t, you’re not alone. Time spent in meetings really should be documented and analyzed, especially when you consider how often, and how much time people spend in them.
Meetings are darn expensive, and many are notorious for being non-productive, unplanned (or poorly planned) interruptions in otherwise productive workdays. Some treat meetings as opportunities to vent and complain about what’s wrong with everything, “as long as everyone’s together” which is not only exhausting, it’s also a complete waste of time and it sinks morale. It’s no wonder why so many people dread meetings, rolling their eyes and sighing when the invites pop up on their Outlook.
The most productive meetings are those that are tied to an agenda and facilitated by a moderator who ensures everyone stays on point. If peripheral or unrelated issues are brought up, they should be quickly acknowledged and noted for another (off-line) discussion. It takes a strong, confident leader to keep everyone focused, which can be a difficult task especially in a sea of diverse personalities. Productive meetings are also small in size, only involving those who need to attend. It can be frustrating and demoralizing to be involved in a meeting that is mildly relevant when your time could have been better spent tending to your core responsibilities.
So how do you measure the ROI on meetings?
It involves placing a value on individual tasks and responsibilities assigned to each meeting participant at the conclusion of the meeting. For example, one person may have been responsible for taking meeting minutes, and if they were thorough and covered all of the highlights, you achieved maximum ROI. Another person may have been charged with leading a new initiative where progress would be tracked along the way. If they underperform, your ROI is low and you’ll need to find out why they fell short of your expectations. If someone leaves the meeting with no expectations or responsibilities, or if they had little to contribute, your ROI is near zero, unless they served purely as an advisor or witness in the meeting.
The rules are slightly different for those company-wide meetings where CEO’s communicate timely and relevant information about the company or organization relevant to all employees. They are also different for department meetings where teams get together to discuss and update each other on projects and initiatives. The ROI for these meetings are typically very high as their purpose is to keep the lines of communication wide open ensuring everyone maintains their critical path.
Leadership training, such as L.E.T. teaches managers how to properly structure and facilitate effective and efficient meetings that stay on task. Leaders are also trained in Active Listening – skills that are needed to uncover core issues from groups and individuals quickly and effectively.
Meetings cost time and money, and anything worth doing is worth measuring.