Shopify’s Tool Targets Costly Meetings

Shopify’s Tool Targets Costly Meetings

THE WHAT? Shopify, the Canadian e-commerce platform, has launched a meeting cost calculator for its employees. This tool, embedded into employees’ calendar apps, provides an estimated financial cost for any meeting involving three or more participants.

THE DETAILS? Developed by Shopify’s Chief Operating Officer Kaz Nejatian, the calculator uses average compensation data, meeting duration, and the number of attendees to determine the cost. This move forms part of the company’s larger strategy to reduce unnecessary meetings, demonstrated by eliminating recurring meetings with more than two participants and discouraging Wednesday meetings.

THE WHY?  Introducing the meeting cost calculator aims to change the employees’ perspective towards the time spent in meetings, emphasising that time is equivalent to money. By encouraging mindful use of time, Shopify aims to eliminate 322,000 hours and 474,000 individual events in 2023, boosting productivity and emphasising the importance of efficiency in the workplace.