Highlights
Two Primary Styles: Organizations use either Formal (Standard) or Informal (Executive) formats based on their specific reporting needs.
Essential Elements: All meeting records must include the date, attendees, agenda items, and clear action items.
Efficiency: Outsourcing to professional transcription services reduces administrative costs and improves record accuracy.
Meetings help organizations plan, solve problems, and set goals. Regardless of whether a session is face-to-face or virtual, keeping a proper record is vital. Effective minutes serve as a corporate reminder, a guide for future sessions, and evidence of decisions made. Recent data shows that professionals spend over 15% of an organization’s collective time in meetings, making concise documentation more important than ever.
What are Meeting Minutes?
Meeting minutes are the official written record of a group's discussions and decisions. These documents highlight key issues and action items. While preferences vary by company, most meeting minutes include the following details:
- Date and time of the meeting.
- Names of the attendees.
- The purpose of the meeting.
- The agenda and exchange of views.
- Specific action items and assigned tasks.
- The date for the next meeting.
Types of Meeting Minutes Formats
There are two main styles for recording meeting notes. Companies choose a format based on their industry requirements and the level of detail needed.
1. Formal or Standard Format
The formal format is also known as Discussion Minutes. This type is usually three to four pages long. It provides a point by point explanation of everything that transpired. Public companies, government agencies, and academic institutions typically use this style for its accuracy.
2. Informal or Executive Format
Informal summaries are often called Action Minutes. These documents are shorter, typically spanning one to two pages. This format focuses on results and decisions rather than lengthy explanations. Many market research firms and private businesses prefer this synopsis to save time.
Comparison Table: Formal vs. Informal Minutes
| Feature | Formal/Standard Format | Informal/Executive Format |
| Length | 3 to 4 pages | 1 to 2 pages |
| Content | Full discussion details | Key points and actions |
| Primary Use | Compliance and legal records | Internal quick reference |
| Best For | Legal proceedings and boards | Daily team operations |
Standard Meeting Minutes Sample
Organization: The Committee Foundation
Date: September 3, 2021
Attendees: Cooper Johnson, Gabriel Garcia, Mark Alexander, Jessica Jones.
Agenda: Investment redemption and performance report.
Meeting Summary: The committee discussed whether to redeem Lone Pine or Lone Jupiter funds. Mike provided a summary of Continental Capitals. Steve Rogers stepped down as founder. This change created a choice to exit before the year ends. The committee expressed concern that new leadership might change the business approach.
Action Items: * Determine whether to keep Continental Capitals at the next meeting.
- Evaluate replacing fund of funds with direct hedge fund managers.
Executive Meeting Minutes Sample
Organization: The Committee Foundation
Type: Executive Summary
Key Points:
- The foundation can exit before year end due to personnel changes.
- The committee must decide where to reallocate funds if they leave Lone Pine Capital.
- The fund remains stable despite recent market shifts.
- Motion: Redeem 100% from Lone Juniper at year end.
- Result: Approved by 4, Opposed by 2, Abstain by 1.
How to Improve Meeting Productivity
Taking minutes manually is often costly and slow. Many organizations now use audio transcription to capture every word. Submitting recordings to a professional service ensures that the final summary is objective and accurate. This allows staff to focus on the meeting rather than note-taking. With financial transcription requirements becoming more strict, having a verified text record protects the organization.
