Communicate Like a Leader

CHAPTER 36

Know Your Meeting ROI

I work hard to only attend those meetings that have strategic importance and miss all kinds of other seemingly urgent meetings.

—STEPHEN COVEY, EDUCATOR, AUTHOR, AND CONSULTANT

As the meeting leader, you’ll want to know the return on your meeting investment. If you own the meeting, make sure you know the cost and the expected deliverables (An analysis only? A recommendation only? A decision? Input to pass on to another party?).

Here’s how to estimate your typical meeting cost:

1  Estimate the annual salary of each meeting attendee, and compute an average annual salary for the typical attendee.

2  Compute that “average” attendee’s hourly rate based on a 2,087-hour work-year (40-hour work week according to the US ...