The investment organisations make in their meetings is vast. Employee time is tied up in In-house meetings, Senior leaders invest substantial time in strategy meetings, and conferences chew up large budgets.
Yet for all the investment, many meetings fail to deliver to their potential.
There is a tangible business case to enhance the productivity and engagement of meetings and this can be achieved with relatively little effort, and simple, high leverage change to the structures and conduct of meetings.
Measuring ROI: What the Studies Say
Conservative sums show that an organisation of 1000 people
is spending $ 7 mil per year in people sitting in meetings.
Yet survey results indicate that this investment is delivering
less than 50% of it’s value. ( See Article )
Meanwhile, conference or strategy meeting budgets range from modest sums of $ 200 - 300 per head for single day events through to $ 2,000 to $ 3,000 per head for premium end multi day programs. Unfortunately, measures of success tend toward the 'happy factor' at the exit door, but often fail to monitor the organisational impact of such meetings months later.
How have such big investments that deliver limited ROI escape
the attention of prudent leaders? And what can be done about it?
It is possible to consider a meeting as a process, rather than an event. Thus it is possible to 're-engineer' meeting processes for significant improvements in ROI of important one off meetings, as welll as ones that occur frequently.
- Achieve consistently higher value from all meetings
- Increase the likelihood of effectiveness,
regardless of the skill of meeting leaders
- Increase the level of action and results that follow after meetings
- Lead through example
Where to Apply Meeting Improvement Technologies
When ever people come together to produce an outcome the concept of Meeting ROI can be applied. FAST Meetings has found 4 key ares where Meeting ROI is critical to the success of an organisation. These are;
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