Shopify has introduced a innovative tool for its extensive workforce of over 11,000 employees. The tool aims to minimize unnecessary meetings by assigning a cost to scheduled gatherings.
This new tool, known as the Shopify Meeting Cost Calculator, is a Chrome extension that provides an estimated cost for any meeting with three or more participants once it’s set up in Google Calendar.
In a statement, Shopify mentioned that the average meeting at their company involves three people and lasts for approximately 30 minutes. According to their calculations, a typical meeting of this size and duration would cost between $700 and $1600.
It’s worth noting that this cost would increase if additional participants are added, especially if one of them is a high-level executive.
In January, Shopify already took measures to reduce unnecessary meetings by canceling recurring meetings and eliminating Wednesday meetings. However, they recently noticed a recurrence of excessive meetings and felt the need to act promptly.
Kaz Netajian, the Chief Operating Officer of Shopify, gave a demonstration of the tool to Mo Rocca of “CBS Sunday Morning” back in April. He stated that the tool would encourage organizers to have fewer meetings by raising questions about the purpose and attendance of each gathering.
Unnecessary meetings can be quite costly. A report from last year revealed that large companies waste up to $100 million annually on such meetings. The report, conducted by UNC Charlotte professor Steven G. Rogelberg for Otter.ai, suggested that a company with 100 employees could save $2.5 million per year by eliminating unnecessary meetings.
According to Microsoft, the number of meetings has increased by 153% since the beginning of the COVID-19 pandemic.
“People who build and create things require focus,” remarked Netajian. “Constant interruptions hinder productivity.”
Rogelberg acknowledged that not all meetings are unnecessary and emphasized the importance of conducting effective meetings. He stated that by improving the quality of meetings, positive outcomes can be achieved.
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