This is one of the single best business ideas I’ve ever heard. Any orthopedic companies can use this tool.
Ortho leaders are often guilty of creating theater at work by engaging others in useless meetings and gatherings. We have all witnessed these meetings.
Stop these useless meetings and do something measurable and valuable instead.
This will help to keep the A/A+ talent and weeds out the Bs and Cs.
A win/win for everyone.
Learn more from the the Meeting Cost Calculator tool at Shopify below.
Shopify, a Canadian e-commerce company, has introduced a Meeting Cost Calculator to combat the problem of unproductive meetings. The tool, a Chrome extension integrated into Google Calendar, calculates the estimated cost of meetings based on average compensation, number of attendees, and duration. According to internal data, a 30-minute meeting with three employees at Shopify costs between $700 and $1600. By reducing three meetings per week per person, the company expects to achieve a 15% reduction in overall costs. Shopify aims to share this tool with other businesses to help them understand the financial impact of unnecessary meetings.
Shopify initially implemented measures to reduce unproductive meetings in January, such as eliminating recurring meetings involving three or more people, designating meeting-free Wednesdays, and restricting large meetings with over 50 participants to a six-hour window on Thursdays. However, they found that further action was necessary to combat the reemergence of unnecessary meetings. The company believes that time is valuable and should be spent on supporting their merchants or engaging in meaningful activities, as meetings often fail to achieve either goal. While the Meeting Cost Calculator quantifies the cost of meetings, Shopify emphasizes the broader need to reassess how time is utilized and encourages more innovative collaboration methods.
In summary, Shopify’s Meeting Cost Calculator offers a practical solution to reduce unproductive meetings and associated costs. By leveraging the tool, businesses can gain insights into the financial impact of meetings and reconsider their necessity. Shopify aims to encourage a shift in meeting culture towards more creative and effective collaboration methods, prioritizing value and efficiency in the use of time.
Read full article here – https://timesofindia.indiatimes.com/gadgets-news/why-shopify-is-shaming-employees-with-cost-calculator/articleshow/101695301.cms