1. What is the HBR Meeting Cost Calculator?

The HBR Meeting Cost Calculator estimates the total cost of meetings based on participant salaries, duration in weeks, and a specific cost factor. It helps organizations understand the financial impact of meetings and optimize resource allocation.

2. How Does the Calculator Work?

The calculator uses the HBR meeting cost formula:

Where:

• \( \sum Salaries \) — Total annual salaries of all participants
• \( Weeks \) — Duration of the meeting period in weeks
• \( Factor \) — Cost multiplier factor

Explanation: The formula calculates meeting costs by converting annual salaries to weekly rates, then multiplying by meeting duration and additional cost factors.

3. Importance of Meeting Cost Calculation

Details: Understanding meeting costs helps organizations make informed decisions about meeting frequency, duration, and participation, leading to better resource management and cost efficiency.

4. Using the Calculator

Tips: Enter total annual salaries in currency, meeting duration in weeks, and appropriate cost factor. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Why divide salaries by 50?
A: This converts annual salaries to weekly rates, assuming 50 working weeks per year accounting for holidays and vacation time.

Q2: What factors affect the cost factor?
A: The cost factor may include overhead costs, facility expenses, technology costs, and other meeting-related expenditures.

Q3: Should this include all meeting participants?
A: Yes, include all participants' salaries for accurate cost calculation, as everyone's time contributes to the meeting cost.

Q4: How accurate is this calculation?
A: This provides a reasonable estimate but may not capture all meeting-related costs. Adjust the factor based on your organization's specific circumstances.

Q5: Can this be used for recurring meetings?
A: Yes, simply multiply the result by the number of occurrences to get the total cost for recurring meetings.