Western Union's CEO reveals the 2 different kinds of meetings managers should have to boost employee productivity

• Western Union's CEO Hikmet Ersek keeps informational and decision-making meetings separate.
• Ersek tells Business Insider this distinction helps speed up decisions and allows employees to keep pace with the changing needs of customers.
• The CEO is among several top leaders this week who made an appearance at the World Economic Forum in Switzerland. The conference, known more simply as Davos, is an invitation-only event for business leaders and politicians.
• Click here for more BI Prime content.

DAVOS, Switzerland — Though employees might complain that meetings decrease their productivity, there's an exact strategy to make sure that's not the case.

That's according to Western Union CEO Hikmet Ersek, who was at the World Economic Forum this week in Davos. Ersek told Business Insider that using two kinds of meetings can lead to faster decision making among employees.

Ersek tries to make meetings as productive as possible by maximizing employee's time. He holds two types of meetings: One for information and another for fine tuning company decisions. 

"Don't come to the decision making meetings only with information," Ersek said. "Customers are so fast and they demand so fast."

There are roughly 11 million meetings every day, and a third of these meetings are unproductive, which can cost employers up to $37 billion per year, Business Insider previously reported. Another report found 44% of people said poorly organized meetings contribute to late assignments.

But setting a clear agenda could help meetings be more successful. At least 72% of successful meetings set a clear objective, and 67% have a clear agenda, according to a survey by meeting-scheduling tool Doodle.

Keeping these meetings focused helps his team make quicker decisions, Ersek said. The needs of customers are constantly changing, and having focused meetings can help employees make decisions more quickly.

He also said that using separate meetings allows for employees to listen and learn from the people using the product. If it takes too long to make a decision, Ersek worries the company could fall behind in a competitive marketplace.

"You're always a step back from the customer," he said.

SEE ALSO: Trump gave a rambling speech at Davos touting US economic achievements without mentioning the elephant in the room

DON'T MISS: Everything you need to know about Davos, the invitation-only conference that brings billionaires together with business and political leaders at a Swiss resort

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