Meetings are wasting our time and money, says Ed van Roosendaal, co-founder and CEO of the AI-based platform Project Manda.
“In a 100-person organisation, meetings can cost approximately $4 million annually,” Ed says. “If 15 per cent to 20 per cent of these meetings are unproductive – a conservative estimate – that equates to $600K to $800K in wasted time each year.”
And this figure, Ed notes, accounts only for the direct cost of time. The real impact is much greater when considering the opportunity cost and the negative effect on employee morale. The impact of unproductive meetings could be even larger for small businesses, given their limited resources.
Ed says, “Unlike larger organisations that might be able to absorb inefficiencies, small businesses feel the impact of wasted time and resources…acutely. This makes it crucial for small-business owners to closely examine and optimise their meeting productivity.”
Also, in smaller teams, low morale due to unnecessary meetings can have a ripple effect, adds Ed.
“In small teams, where collaboration and communication are vital, poorly managed meetings can lead to frustration and disengagement,” the entrepreneur says. “This can create a ripple effect, reducing overall productivity and increasing turnover – a costly issue for any small business.”
So, what to do? Ed shares with us five technological tools that SMEs can use to improve their meeting culture.
“Speedy meeting” tools
“Speedy meeting” tools are often built into your digital calendars – it’s just a matter of flicking a button from ‘off’ to ‘on’ in your calendar settings. They work by automatically shortening events that are 30 minutes or longer. For instance, if you book a 30-minute meeting into your calendar, the “speedy meeting” tool will change the booking to a 25-minute meeting. If you book in a longer meeting – for example, 60 minutes – the tool might take more time off, booking in a 50-minute meeting. The goal is to give you back time in small increments without you having to do anything. It might seem small, but it’s
research-backed. Research indicates that shortening meetings can achieve the same outcomes while improving focus, Ed says. It does this by creating a small amount of positive pressure on attendees, making them think actively about getting to the point and resolving matters quickly.
Scheduling tools
You might not know that meeting scheduling tools have become a lot smarter in recent years. Ed recommends using AI-powered scheduling tools, like Clockwise, Reclaim, or Project Manda, to shape an optimised schedule quickly and easily. These tools generally work by connecting to your calendar and listening to your personal preferences, including the times you wish to leave inflexible and when you prefer to do focused work. They can also help you co-ordinate your availability with coworkers and clients.
You can set these tools to calm down your meeting schedule, Ed says; for instance, rescheduling back-to back meetings. Studies have indicated that several hours of back-to-back meetings can lead to high levels of stress and fatigue, making these meetings unproductive. Additionally, it has been found that attendees often start preparing for the next meeting during the current one, which diminishes the effectiveness of both.
Work tracking and management tools
Proper preparation is essential for a good meeting, Ed says – not just for the meeting organiser, but also for the attendees. He shares that agendas can promote good preparation.
“Without providing context and materials beforehand, you’re setting the stage for an unproductive meeting,” Ed explains.
Work tracking and management tools such as SoapBox, Fellow, Jira, and Asana can help you arrive prepared for all your meetings. Typically, these tools allow teams to organise, track and manage their work. They can also be helpful for tracking and delegating tasks during a meeting, acting as organisational centrepieces in place of your traditional whiteboard, Word document or spreadsheet. This can help you keep your expectations for the meeting explicit.
Moreover, when you have a clear picture of who is doing what, you can ensure that only the necessary participants are included in your meeting. Each additional person in a meeting with over seven participants reduces productivity by 10 per cent. Keeping meetings lean not only gives team members their time back, but increases the productivity of the meeting itself.
Analytics tools
Ultimately, it’s important to get feedback on whether your meetings are needed at all. Meetings can often become part of the furniture in a workplace – why not review what you’re getting out of them?
Many businesses may be unsure where to begin analysing the productivity of their business, but AI-powered tech is making it easier than ever. Tools like Fellow and Project Manda can tell you exactly how much is being invested in meetings within the business and what the return on investment is, says Ed. They typically do this by integrating with your calendar or messaging platform (think Slack) and gathering qualitative feedback from attendees via automated messages.
Optimise your time
“Improving meeting productivity is essential for small businesses that want to maximise efficiency and minimise wasted time,” Ed says. “Meetings are a significant investment of time and resources, so it’s crucial to ensure they are as productive as possible. By taking a strategic approach, small-business owners can implement practical steps to enhance the effectiveness of their meetings.”
This article first appeared in issue 46 of the Inside Small Business quarterly magazine
