No one is ambivalent about staff meetings. You either think they’re critical to running your business, or you consider them a total waste of time.
Are your staff meetings an effective use of time and money for your company? Think about how long your meetings take. We have one client whose weekly staff meetings sometimes take 6 hours!! When you consider how much that meeting costs, it’s no joke at all.
How many people attend your staff meeting and what is their hourly rate? The owner @ $200/hour. 2 Exec VPs @ $80/hour; 3 middle level managers at $60/hour; 4 line supervisors at $45/hour. That’s a staff meeting with 10 employees, and a total hourly rate of $720. So, if your meeting lasts 3 hours, that’s a cost to the company of $2,160 every week that you meet.
Then consider this – at $2,160 per week, that’s $8,640 per month, and $112,320 per year. You might not be able to eliminate those meetings, but you should do everything you can to increase its efficiency, because it’s going to save you money.
Staff meetings won’t feel like a waste of time if everyone contributes and feels part of the process. And, when that happens, it won’t feel so expensive, either.
If you're in a business that's experiencing exponential growth, one of the problems that you're facing even now is staffing.
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