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5 Tips to Significantly Improve Efficiency and Output of Your Meetings


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Taking the pulse of your company is necessary but have you ever considered how much time the meeting and the reports your staff is collating are consuming? According to a Clarizen/Harris interactive survey, 67 percent of those surveyed say they are spending up to four hours per week preparing for meetings, while a 3M Meeting Network survey of executives found up to 50 percent of the time people spend in meetings is wasted. That’s a lot of hours preparing for a meeting that is considered a waste of time.

How can you make your meetings more efficient while obtaining all of the relevant information you need to make informed decisions? At Khorus, we work specifically with CEOs and senior executives reach their full potential. We’d like to offer you 5 tips to get the most out of the least amount of meetings.

Download this eBook to learn:

- Where most meetings get off track
- What other CEOs feel about their current allocation of time
- Why so much time and resources are squandered preparing for meetings
- How to recapture your precious time
- The steps you can take now to stop the madness

Published in: Business
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5 Tips to Significantly Improve Efficiency and Output of Your Meetings

  1. 1. Think There’s No Such Thing as a 5-Minute Ops Review Meeting? 3 Tips to Significantly Improve Efficiency and Output of Your Meetings Share this:
  2. 2. 1 London School of Economics and Harvard Business School, “Executive Time Use Project,” 2012. 2 Harris Interactive, 2011 Where Did All the Time Go? 18 hours of a 55-hour work week is the average time CEOs spend in meetings1 The more direct reports a CEO has correlates with more and longer internal meetings1 In companies with a finance or operating chief, the CEO’s time spent in meetings was reduced by 5.5 hours per week1 70% of workers don’t believe status meetings help them accomplish work tasks2 Share this:
  3. 3. There is a disconnect between the intent and actual outcome of meetings. Numerous studies show CEOs and participants alike are increasingly frustrated with ineffective, disorganized meetings that consume the bulk of the work week. Not only are these incessant meetings wasting time and productivity, they waste money and resources. If time was regarded as dollars, calendars would suddenly free up for actual work. In fact, if you broke down the salary of participants by the hour, nearly one third of what you’re paying them is funding the preparation and attendance of those meetings. Now do those meetings and reports seem so necessary? Share this:
  4. 4. Business sector labor productivity decreased at a 3.2% annual rate during the first quarter of 2014 yet hours increased 2.2% and output decreased 1.1%.1 Meetings were named as the #1 office distraction that lead to time wasted.2 Managers claim at least 30% of their time spent in meetings was a waste of time.3 Operational reviews and status meetings often begin with a set agenda but quickly lose direction. As meeting quantities and time increase, productivity actually decreases. 1 U.S. Bureau of Labor Statistics, Productivity and Costs, First Quarter 2014, Revised. 2, 2013 Wasting Time at Work Survey, 2013. 3 Industry Week survey of 2000 managers. Meetings Go Awry Share this:
  5. 5. 1 Office Team, a division of Robert Half International. 2 McKinsey & Company online survey, 2011. “Meetings are indispensable when you don’t want to do anything” – John Kenneth Galbraith 45% of senior executives said their employees would be more productive if their firms banned meetings for at least one day a week1 Only 9% of executives are “very satisfied” with their current allocation of time2 52% of executives said the way they spend their time largely matched their organization’s strategic priorities2 Even though most senior executives realize meetings are a colossal waste of time, many aren’t sure how to change the mindset of the company. Share this:
  6. 6. Ops meetings may seem to drag on forever, but the preparation for the meetings often takes longer. Participants work feverishly to have as much data as possible, as to not appear unprepared or because they aren’t certain what data is pertinent. Up to 40% of a manager’s time is spent writing reports1 Between 30-60% of a manager’s time is spent coordinating meetings1 59% of workers said preparing for status meetings often takes longer than the meeting itself2 “One of life’s most painful moments comes when we must admit that we didn’t do our homework, that we are not prepared.” – Merlin Olsen 1 McKinsey Global Institute, 2012. 2 Harris Interactive, 2011. Don’t Forget Your Homework! Share this:
  7. 7. Your time is a finite and measurable resource; rescuing it is critical. As CEO of your organization, it’s up to you to set the tone, define the strategy and lead by example. What better way than to help your employees dig out of all of the meetings and use that time to actually accomplish something? Khorus would like to suggest 3 Tips to help you shrink your ops meetings to a mere 5 minutes. Think it’s impossible? You’ve got nothing to lose but time. Recapturing Your Time Share this:
  8. 8. Have you ever counted how many reports are being produced for each status meeting and how often the data within is actually utilized? You may find most of your reports are based on backward-facing accounting data incapable of providing a picture of what is happening right now or could happen in the future. If you’re relying on this type of data, you’re likely in a reactive mode instead of a proactive strategic mindset. “If you love something, set it free. If it comes back, it was meant to be.” Cut the reports that aren’t providing meaningful, useful data used to help you make decisions. If you end up missing them, reinstate them. If not, let them go. Take Inventory1 Share this:
  9. 9. General suggestions for a productive meeting: Take Back Your Meetings2 Have a prepared, standard, recurring agenda covering general business topics only Limit the discussion of issues Define exactly what the corporate strategy is so the management team can identify the measurement needed to illustrate if the company is on track Automate as many reports as possible so running reports is a breeze Share this:
  10. 10. Your decisions should be based on what’s happening now and what is expected to happen in the future. Only Khorus gives you a “feed-forward” view to see how well your organization is performing against each objective which is clearly tied to corporate strategy. Khorus stops the ops review data explosion by defining key objectives for each quarter and how they will be measured so each group can focus on delivering results instead of gathering any and all data. Get A “Feed-Forward” View of Your Company3 “If data can’t be gathered by each department in five minutes, there is a clear mismatch between what the CEO is trying to accomplish and what the department is trying to do.” – Joel Trammell, Founder and CEO of Khorus Share this:
  11. 11. • Easily identify positive or negative trends and encourage or change their drivers • Recognize and reward performance leading to success against the objectives • Make realistic forecasts to boards, analysts and investors With Khorus, leaders can: Want to know how? Read on for six steps to get you there. Share this:
  12. 12. 5 Steps to Ensure Your Decisions Are Proactive, Not Reactive Step 1: Communicate the company’s strategic vision and set the goals and objectives vital to company performance. These will be entered into Khorus. Step 2: Responsibility for achievement of these goals can be divided between departments and managers. Step 3: Department managers will break goals down into objectives for each member of their team. Step 4: Employees will report the status of their goals weekly in Khorus to predict the likelihood and quality of each goal. Step 5: Leaders can easily assess the health of the organization with corporate performance dashboards that provide a snap shot view of the status of all goals. Share this:
  13. 13. We believe backwards-looking metrics have their place, but they don’t give you the actionable data you need so you can confidently predict company performance. Our software was designed specifically for CEOs to: The Khorus Difference With dashboards, real-time analytics, side-by-side comparisons of performance versus goals, and exportable reports, problems can be addressed ahead of time. When each employee understands how their job performance impacts corporate strategy and goals, everyone works together to achieve success. Every employee is held accountable for their performance and has control over their output. Share this:
  14. 14. KHORUS.COM If you’re tired of endless ops meetings with reams of dated reports that only provide hindsight view of your organization, you’re ready for Khorus. We guarantee our software can help you be a more efficient leader and a more productive company. Contact us today to learn how our rapidly deployed software can align your strategy with corporate objectives at every level of your company. It’s time to get to work. How to Get Started Share this: