How this calculator works
Every minute of a meeting is paid time for each person in the room, so the cost is the headcount multiplied by the hourly cost multiplied by the length. The hourly figure should be fully loaded, meaning salary plus benefits, payroll taxes and other employer costs, divided by the paid hours in a year, because an hour of an employee is worth more than the bare wage. A recurring series multiplies the cost by how many times it happens: 52 for a weekly meeting, 26 for one held every second week, 12 monthly, 4 quarterly and 2 twice a year. A daily meeting uses 260 working days, which is five days a week for 52 weeks and needs lowering if the team takes vacations.
Formula
cost per meeting = attendees x cost per attendee per hour x (meeting length in seconds / 3600). Cost per year = cost per meeting x occurrences per year. Attendee hours per year = attendees x meeting hours x occurrences.
Worked example
Six people at $55 an hour for one hour is 6 x 55 = $330 per meeting. Held weekly, that is 330 x 52 = $17,160 a year and 312 attendee hours.
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Frequently asked questions
Should I use salary or a fully loaded hourly cost?
Use the fully loaded figure. A $55 hourly rate covers salary, benefits and employer payroll contributions; using the bare wage understates the cost of a meeting by a fifth to a third.
How do I estimate an hourly cost from a salary?
Divide the annual salary by the paid hours in a year, around 2,080 for a full time job, then add roughly 20% to 35% for benefits and employer contributions. Use your own organization figures where you have them.
Does this include preparation time?
No. The figure covers the meeting itself. Add an estimate of preparation and follow-up hours to each attendee if the meeting requires them.
Why is the daily option based on 260 days?
Five days a week for 52 weeks is 260 working days. Lower that in your own arithmetic if the team is not in the office every weekday, since the yearly cost scales directly with how many times the meeting happens.