My wife works for a company which provides consulting and evaluation services to states and the federal government. Project budgets are fixed and every employee's time must be accounted for precisely. My wife's time is expensive.
What this means it that there are many project meetings to which she is deliberately not invited b/c her time is too expensive to be spent in a meeting. Someone else will summarize the key action items for her afterwards in an email or a five minute call. She is rarely, if ever, in an interminable, useless meeting b/c that costs her firm too much money.
This is not applicable to every business context: fixed budgets and a notion of exactly how much each employee's time costs are probably both crucial.
But if could implement this, think of the time you might save to do valuable work!