1. What is the HBR Meeting Cost Calculator?

The HBR (Hourly Business Rate) Meeting Cost Calculator estimates the total cost of a meeting based on participants' average salary, number of attendees, and meeting duration. It helps organizations understand the true cost of meetings.

2. How Does the Calculator Work?

The calculator uses the HBR cost equation:

Where:

• \( \text{Average Salary} \) — Annual salary in USD
• \( \text{Attendees} \) — Number of meeting participants
• \( \text{Hours} \) — Duration of the meeting

Explanation: The equation assumes 2000 working hours per year (50 weeks × 40 hours) to calculate hourly rate, then multiplies by number of attendees and meeting duration.

3. Importance of Meeting Cost Calculation

Details: Understanding meeting costs helps organizations evaluate meeting ROI, optimize meeting frequency/duration, and make informed decisions about whether meetings are justified.

4. Using the Calculator

Tips: Enter average annual salary in USD, number of attendees (minimum 1), and meeting duration in hours (can use decimals for partial hours). All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Why divide by 2000 for hourly rate?
A: This assumes 50 working weeks per year and 40 hours per week (50 × 40 = 2000). Adjust if your organization uses different standards.

Q2: Should I use individual salaries or team average?
A: For precise calculation, sum all participants' salaries. For quick estimate, use team average salary.

Q3: Does this include overhead costs?
A: No, this only calculates direct labor costs. Additional costs like facilities, technology, and preparation time are not included.

Q4: How accurate is this calculation?
A: It provides a reasonable estimate but actual costs may vary based on benefits, overhead, and opportunity costs not accounted for.

Q5: Can I use this for virtual meetings?
A: Yes, though virtual meetings may have lower overhead costs not captured in this calculation.