Meeting TaxiMeter can use be used a meeting cost calculator in several ways.
Projected meeting cost calculator
Entering the following information:
- the number of attendees
- their approximate salary
- the length of the meeting, the frequency of the meeting,
- the average amount of time it takes people to get to and from the meeting (time overhead)
- any expenses for the meeting (cost overhead) e.g. catering or room hire
will calculate the cost of a single meeting or the projected cost of the meeting over the year.
Actual meeting cost calculator
Once you have started the meeting the real cost of the meeting will be displayed and updated throughout the meeting.
Calculating the cost of the meeting
The meeting cost is calculated in the following way
- For each salary band calculate the cost per minute for that band and then add them to give a total cost per minute
- Use the total cost per minute to calculate the cost of the time overhead (time to get to the meeting and leave the meeting)
- Add the cost of the time overhead to any cost overhead (e.g. room hire) to give the total cost overhead
- Display the elapsed meeting time and the cost so far + the total cost overhead
Posted in: Using Meeting Cost Watch app