Inefficient meetings cost mid-size companies $5.3m a year

Employees are having more meetings than ever, with the average employee having five per week and executives in some industries having up to 10.

But attendees overwhelmingly feel that meetings are not worth the time they are spending in them. The majority of meetings also start late due to factors including technical difficulties, which costs a mid-size company an average of $5.3 million per year.

While meetings aren’t inherently unproductive, the contemporary workforce lacks the tools to get the job done. A growing percentage of meetings are also one to one rather than group, and taking place online instead of in person, prompting the need for new collaboration tools tailored to these interactions.