The most universal and common business activity that takes place in every industry around the world is also the greatest source of anxiety, frustration, and stress. Meetings can be a valuable tool to drive an organization's goals forward, but when they're ineffectively planned and executed, they can result in decreased productivity, wasted resources, and diminished staff morale.
This report will explore the current challenges including what's at stake when ineffective meetings continue to occur, along with the benefits seen when organizations set themselves up for success through great meetings.
On average, 56 million meetings take place every day across the United States alone. From a global perspective, those numbers are unknown but surely astronomical in size. It's suggested that at least 20% of meetings could be labeled as ineffective, although this is likely severely underestimated.
Interestingly, most businesses lack insight into this challenge as meetings are often the least evaluated activities, and the return on investment (ROI) of time and resources is often unclear. The reality is that billions of dollars are spent annually on meetings that are ineffective and fail to produce valuable results. This leads to staff experiencing meeting fatigue, time away from other priorities, stalled projects and initiatives, and an overall loss of productivity.
However, well-organized, high-functioning meetings can be the most valuable tool for an organization to drive their strategic and operational goals forward, and enable strong collaboration, communication, and culture.
It's important to also note that there are substantial emotional and cultural costs associated with poorly planned and executed meetings. These can include the following:
Now, let’s consider what it looks like when all appropriate steps and measures are consistently in place, and meetings are well-organized and executed. We should never underestimate the value of a great meeting. When teams are equipped to plan, lead, and follow up on high-functioning, effective meetings, the following benefits can be seen.
While the road to reach this level of success differs from one organization to the next, a few steps that steer us in the right direction include:
Organizations can consider completing a self-assessment to assess their current state, define where they want to be in the future, and then craft an appropriate strategy and roadmap to define their transformation journey to an increasingly productive workforce through effective meetings.
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