“So if a meeting lasts an hour,” STL proclaimed, “it amounts to ?5,796 for every employee annually. An SME has up to 250 employees. This means that in total, time-wasting meetings could be costing small and medium companies ?973,000 a year. And this doesn?t take travel time, transport fees and external expenses into account.”
There?s a way around this though. Always set a clear agenda and ensure only those that truly need to attend are there.
?Could some of them just receive a brief email summary or quick call afterward?” STL said. “Also, schedule a 30 minute meeting instead of an hour. Meetings are usually stretched out to fill the allocated space. And way too much time is spent waiting for people to arrive and repeating what has already been said.?Procrastinating, not taking breaks and saying yes too often can also prove damaging. Below is an infographic created by STL, which delves into the other eight management mistakes and sets out ways for them to be avoided.
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