![]() Yes, I’ve seen the number of meetings on my calendar decrease. But does this calendar initiative mean that you are in fewer meetings? This conversation has been edited and condensed for clarity.įortune: The CFO has increasingly become more collaborative with the organization. How is the meeting initiative panning out in the finance organization? As the CFO, Hoffmeister shared his perspective. When Shopify removed 12,000 meetings at the start of the new year, they projected they would cut 322,000 hours and 474,000 discrete events for all of 2023, according to the company. And if they’re prompted to do so, the meeting cost calculator is now a deterrent. The estimated meeting cost is $2,115.Īt the beginning of the year, Shopify implemented a “ Chaos monkey” meeting policy, where meetings were not banned outright, but employees were told to cancel all recurring meetings involving more than three people. Shopify sent me an example of a calendar invite for a one-hour meeting, with seven people, including two C-suite execs-Kaz and Tobi Lütke, the CEO and founder. But if there’s an exec in the meeting, you’re looking at $2,000 and more. The average cost of a 30-minute meeting with three employees can run from $700 up to $1,600, Shopify found. The program was built by the chief operating officer Kaz Nejatian. Then it comes up with a price estimate by factoring in the average compensation data across roles and departments, with the amount of people attending, and meeting length. It estimates the price tag of any meeting that has three or more people. ![]() It works like a calculator that’s embedded in an employees' calendar app. The new tool is part of the company’s year-long drive to reduce unnecessary gatherings. “Time is money, and it should be spent on helping our merchants succeed and not on unnecessary meetings,” according to Shopify CFO Jeff Hoffmeister. But Shopify, a Canadian e-commerce company, has implemented a meeting cost calculator to curb pointless group meetings. Of course, other criteria might be important for your business when choosing the right Shopify pricing plan, such as the different functionalities provided by the plans.Īlso, please keep in mind that the above calculations are estimates.“This meeting could have been an email,” is an expression that I’d argue has crossed everyone’s mind at least once. Advanced Shopify - if monthly revenue is over $73500.Shopify - if monthly revenue is between $8500 and $73500.Basic Shopify - if monthly revenue is up to $8500.If 40% of your orders are using Cash on delivery method, then the recommended plan changes as follows: Advanced Shopify - if monthly revenue is over $44000.Shopify - if monthly revenue is between $5000 and $44000. ![]() Basic Shopify - if monthly revenue is up to $5000. ![]() Considering the montly revenue, the payment gateway fees and the Shopify fees, the recommended plan depends on the percentage of orders which are not using a payment gateway (COD orders).įor example, if none of your orders are COD orders, the following plans are recommended:
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