According to industry studies, an estimated 15 minutes are wasted on average per meeting due to technical issues with video conferencing equipment or software. This equates to approximately 31 hours per employee annually. But to be conservative, let's see what it would look like if we wasted an average of just 5 minutes per video call troubleshooting technical issues.
Here's what that looks like:
🕒 Per Week: 5 minutes x 5 days = 25 minutes
🕒 Per Month: 25 minutes x 4 weeks = 100 minutes (or approximately 1 hour and 40 minutes)
🕒 Per Year: 100 minutes x 12 months = 1200 minutes (or 20 hours)
That's 20 hours a year lost per employee just on video call troubleshooting!
But let's talk dollars. Using the industry standard of $50/hour for employee time, the cost of this lost productivity would be:
💵 Standard Employee Hourly Rate ($50/hour): $50 x 1200 minutes = $1,000 annually
💵 Executive or C-suite Hourly Rate ($150/hour): $150 x 1200 minutes = $3,000 annually
Imagine what your team could achieve with that time and money reclaimed!
Let's chat about how to streamline your video conferencing system and reclaim those lost minutes.