Meeting Cost Calculator

The meeting cost calculation takes into account:

• Number of attendees in the meeting
• Average salary (hourly rate or annual salary converted to hourly)
• Duration of the meeting (convertible between seconds, minutes, hours, or days)
• Proper conversion of annual salaries to hourly rates (based on 40-hour work weeks)

Tracking meeting costs helps organizations:

• Optimize meeting efficiency and duration
• Make informed decisions about meeting attendance
• Understand the real financial impact of meetings
• Improve resource allocation and time management

Annual salaries are converted using standard work year assumptions:

• 52 weeks per year
• 40 hours per work week
• Total of 2,080 working hours per year
• Formula: Hourly Rate = Annual Salary ÷ (52 weeks × 40 hours)

The basic calculation doesn't include some additional costs such as:

• Meeting room or facility costs
• Equipment and technology expenses
• Travel time and expenses
• Opportunity costs of delayed work

Use meeting cost data to improve efficiency by:

• Limiting attendance to essential participants
• Setting and sticking to focused agendas
• Choosing appropriate meeting durations
• Considering alternative communication methods for minor updates