Business
Meeting Cost
Work out yearly time value of repeated meetings from people, hourly cost, duration and how often dem happen.
Add to workspaceYour numbers
Result dey update as you type; no Calculate button dey. All calculation dey run inside your browser.
Result
—
—
How the result break down
| Quantity wey we dey count | Value wey e get |
|---|---|
| Cost for each meeting | — |
| Cost per week | — |
| Yearly value of the time | — |
| Person-hours for each meeting | — |
| Person-hours for one year | — |
Person-hours = people × minutes ÷ 60. Scale am by meetings per week and working weeks.
Formula
Annual time value = people × hourly cost × meeting minutes ÷ 60 × weekly meetings × working weeks. Cost per meeting = people × hourly cost × minutes ÷ 60. Cost per week = cost per meeting × weekly meetings. Na the figures wey you enter we dey use.
Example wey show the calculation
For 9 people at $180/hour for 60 minutes: cost per meeting = 9 × 180 × 60 ÷ 60 = $1,620. At 3 meetings per week, na $4,860 per week. Over 48 working weeks, yearly time value na $1,620 × 3 × 48 = $233,280, or 1,296 person-hours per year. Use Reset example above to get this result again.
Where e fit work and limits
This na opportunity-cost estimate from the average hourly cost wey you enter. E no necessarily be cash wey you fit avoid paying: salaried staff still get pay whether dem attend or not. Preparation time dey inside only if you add am to meeting duration. Room, tools and travel costs no dey inside. If you want total staff cost, use fully loaded hourly cost: salary plus other employment costs.
Questions wey people dey ask often
If I cancel the meeting, na cash wey I save?
No be always. Na value of staff time wey become free. Cash savings go happen only if that time would otherwise require paid overtime or contractor work.
The hourly rate suppose include extra employment costs?
Yes, if you want total staff cost. Use fully loaded rate: salary plus benefits, payroll taxes and overhead. No use only base pay.
Wetin about preparation time?
Add am to meeting duration, or calculate preparation separately and add the two results.
Why 48 working weeks?
Na example assumption: 52 weeks minus holidays and leave. Change am to match your own calendar.
If meeting shorter, the saving go reduce in the same proportion?
For this model, yes. Cost dey change directly with minutes, people and frequency. If you halve any of dem, cost go halve too.
Other tools wey relate to dis
- Real hourly rate for freelance work — hourly rate wey cover income target, expenses and tax
- Calculator for break-even point — sales volume wey cover fixed and variable costs
- Calculator for ROI — return on investment for a cost or project
Results na estimates; dem no replace advice from qualified professional.