In some companies, employees spend more time in unnecessary meetings than they spend actually doing their work. If this sounds like your company, consider using the 'Cost of Meeting' app by marketing agency LBi.
The Cost of Meeting app is a free app that calculates how much money your company is losing when people are in meetings. LBi's executive creative director Cedric Devitt created the app to demonstrate just how wasteful -- and draining for employees -- it can be to have people constantly meeting up.
To use the Cost of Meeting app, you enter in the number of people at the meeting and an average hourly rate. Once the meeting starts, the app starts calculating how much money is being spent, or the amount of money you could be making through billable hours, says Wired UK. Once the app deems the cost excessive, it will display a message that says, "If you are seeing this message, fire your project manager."
Company Cost Calculators
LBi Creates 'Cost of Meeting' App To Help Brands Save Money
Trend Themes
1. Meeting Efficiency - Opportunity to develop tools and technologies that help companies maximize productivity and reduce time wasted in meetings.
2. Cost Optimization - Opportunity for businesses to leverage cost calculation apps and tools to identify areas of unnecessary expenses and improve resource allocation.
3. Workplace Productivity - Opportunity to create solutions that enhance employee productivity by minimizing non-value added activities like excessive meetings.
Industry Implications
1. Software Development - Disruptive innovation can occur through the creation of advanced meeting management software that improves meeting efficiency and cost optimization.
2. Consulting Services - Opportunity for consultants to offer services focused on optimizing meeting structures and facilitating efficient decision-making processes.
3. Productivity Tools - Opportunity for companies specializing in productivity tools to integrate cost calculation features and offer solutions to enhance workplace productivity.