1. What is a Meeting Cost Calculator?

Definition: This calculator estimates the total cost of a meeting based on the number of attendees, meeting duration, and average hourly rate.

Purpose: It helps organizations understand the true cost of meetings and make informed decisions about meeting frequency and duration.

2. How Does the Calculator Work?

The calculator uses the formula:

Where:

• \( C \) — Total meeting cost (USD)
• \( H \) — Hours per attendee (hours)
• \( R \) — Hourly rate per attendee (USD/hour)

Explanation: The calculator multiplies the number of attendees by meeting duration and average hourly rate to calculate the total cost.

3. Importance of Meeting Cost Calculation

Details: Understanding meeting costs helps organizations optimize time usage, justify virtual meetings, and improve meeting efficiency.

4. Using the Calculator

Tips: Enter the number of attendees, meeting duration in hours (can use decimals for partial hours), and average hourly rate in USD.

5. Frequently Asked Questions (FAQ)

Q1: How accurate is this calculation?
A: It provides an estimate based on average rates. Actual costs may vary based on specific employee salaries and meeting effectiveness.

Q2: Should I include preparation time?
A: For more accurate costs, you might want to add preparation time to the meeting duration.

Q3: What's a typical hourly rate to use?
A: Use your organization's average hourly rate. The default $50 is a common placeholder for professional services.

Q4: How can we reduce meeting costs?
A: Consider shorter meetings, fewer attendees, or asynchronous communication for non-critical discussions.

Q5: Does this include overhead costs?
A: No, this is just labor cost. Add facility, technology, and other costs separately if needed.