Have you ever considered the cost to an organization of an on-site or web-based benefits meeting? First let’s break down cost into two categories – productivity cost and hard dollar cost.
Let’s say that a company has 100 employees, and the average salary across the group is $40,000 per year. At 2,000 hours per year, that person makes $20 per hour. If a “mandatory” benefits meeting runs one hour in duration and 100% of the employees attend (unlikely but we’ll cover that one later), those employees are not performing their job function for that one hour. So 100 employees x $20 per hour x 1 hour = $2,000 of lost productivity cost. For a 200 employee company, the lost productivity cost would be double, $4,000, for a 500 employee company, the lost productivity cost of that one meeting is $10,000!
Then there are hard dollar costs. If an insurance broker or HR person is traveling to different sites for meetings, add in potential costs of fuel, taxis, hotel, airfare, meals and so on for each separate meeting. You can do your own math here…hard dollar costs can really add up. And don’t forget about the lost productivity during the travel time!
With online video, benefits meeting content is delivered to the intended audience, wherever it is, providing instant access to relevant information and reducing cost associated with on-site and/or web meetings.
Video Benefits Meeting can help reduce the costs of benefits meetings.