{"id":583822,"date":"2023-03-14T00:00:00","date_gmt":"2023-03-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/14\/all-those-unnecessary-meetings-are-costing-your-company-a-lot-of-money-how-to-encourage-innovation-in-the-workplace\/"},"modified":"2023-03-14T00:00:00","modified_gmt":"2023-03-14T00:00:00","slug":"all-those-unnecessary-meetings-are-costing-your-company-a-lot-of-money-how-to-encourage-innovation-in-the-workplace","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/14\/all-those-unnecessary-meetings-are-costing-your-company-a-lot-of-money-how-to-encourage-innovation-in-the-workplace\/","title":{"rendered":"All those unnecessary meetings are costing your company a lot of money + How to encourage innovation in the workplace"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Your boss probably agrees: You and your team are spending way more time than is<\/span><span style=\"font-weight:700\"> necessary in meetings.<\/span><span> An average of 25 hours of executives\u2019 work weeks are dedicated to meetings \u2014 around half of which end with no real outcome or benefit, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-13\/bosses-say-nearly-half-of-meetings-should-disappear?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\"> reports, citing a study by research consortium Future Forum. Leaders tend to continue attending meetings that end up being useless, the study found, often because they don\u2019t want to miss out on something important, or they don\u2019t want to be perceived as being uninvolved. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">All of those wasted meeting hours are also costing a pretty penny:<\/span><span style=\"\"> Unnecessary meetings<\/span><span> end up costing companies significant amounts of money, with companies surveyed spending an average of USD 80k in salaried hours for meetings, 31% of which are meetings that are deemed \u201cunnecessary,\u201d according to a separate study from Otter.ai picked up by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20220926005145\/en\/One-third-of-Meetings-Are-Unnecessary-Costing-Companies-Millions-and-No-One-Is-Happy-About-It\" style=\"\">Business Wire<\/a><\/span><span style=\"font-weight:400;\">. On a larger scale, companies with more than 100 employees could stand to save more than USD 2 mn per year, with that number growing to USD 100 mn per year for companies with more than 5k employees. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Intellectual honesty + psychological safety are the balancing act of innovation: <\/span><span>Innovation is the product of debate, but healthy and open debate at the office requires the creation of spaces that promote candid, informative discussion in a socially aware manner, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sloanreview.mit.edu\/article\/why-innovation-depends-on-intellectual-honesty\/?cid=other-eml-onp-mip-mck&hlkid=d6ea8fe7235844569e7f5b02dc70cbab&hctky=14231555&hdpid=64dfe07d-637d-428d-aca1-23ad3d6c8a83\" style=\"\">new study<\/a><\/span><span style=\"font-weight:400;\"> published in MIT Sloan Management Review. Helping employees to feel safe and respected with an atmosphere of psychological safety is typically seen as the best route to sharing and ultimately maintaining talent, the study says. Yet the culture it creates can undermine intellectual honesty \u2014 the voicing of ideas and disagreements in a rational and constructive way \u2014 key for high-performance learning. Social cohesion can encourage groupthink or dampen innovation. Brutal honesty, however, goes too far and can cause damage to colleague relationships, not to mention others\u2019 feelings of acceptance and respect. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">So, how can managers fast-track intellectual honesty? <\/span><span style=\"\">The MIT study suggests five rules:<\/span><span> Focus on a common goal, expect disagreement but require respect, stick to facts and evidence, acknowledge biases, priorities and knowledge gaps and finally, ensure that everyone has a voice. Hiring and development processes are at the basis of creating a high-performing team and the latter should continue throughout the life-span of an employee\u2019s time at a company, the study suggests. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Your boss probably agrees: You and your team are spending way more time than is necessary in meetings. An average of 25 hours of executives\u2019 work weeks are dedicated to meetings \u2014 around half of which end with no real outcome or benefit, Bloomberg reports, citing a study by research consortium Future Forum. Leaders tend [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":583823,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[633,638,1120],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-583822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-enterprisepm","tag-for-your-commute","tag-office-life","wpautop","entry"],"acf":{"mongo_id":"51877a75-f1cd-4ca7-a40a-61510b217af1","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/meeting-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[583817],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.a856e120-3abd-4975-a681-b2818f821099.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>All those unnecessary meetings are costing your company a lot of money + How to encourage innovation in the workplace - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/03\/14\/all-those-unnecessary-meetings-are-costing-your-company-a-lot-of-money-how-to-encourage-innovation-in-the-workplace\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"All those unnecessary meetings are costing your company a lot of money + How to encourage innovation in the workplace\" \/>\n<meta property=\"og:description\" content=\"Your boss probably agrees: You and your team are spending way more time than is necessary in meetings. 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