Have you ever measured the return on productivity of your meetings?
Should we measure this?
Yes.
Why?
Your time is limited and wasting it one of the worst things you can do.
What are the types of meetings your business should have?
Your meetings will fall under one of these 4 categories:
1-Strategic
2-Edifying
3-Action oriented
4-*team building
*Team building is left out of the equation since it’s imperative that you do this day in and day out. You can measure team performance or happiness rating by other means, but since we are discussing productivity we will leave this one out. Note: investing in your team is investing in improved performance.
Now, for the rest of the 3: strategic, edifying, action based meetings, let’s assign a value.
Strategic = 5
Edifying = 3
Action = 1
Why is action only 1? These are the meetings that people meet to discuss “what should we be working on” or “let’s meet to work on X”… you don’t need to meet to do this.
Now — count the total number of meetings you have in a given week or month.
Next, assign each meeting its category and assigned value. Tally up your values.
Now, find the ratio between the number of meetings: total meeting value.
What’s your ratio? Ideally, you’d want to be at or greater than a 1:3 return.