When it's a meeting I run/control my rule is that I will wait 150 seconds for people who are late, after which I start the meeting.

You can join later, that's fine, but I'm not waiting longer than 150 seconds.

Waiting 150 seconds feels like waiting a long time. Whereas being 2.5 minutes late feels like being on time.

So I find that phrasing it this way is more impactful.

(by now you probably figured out that I am not very popular ar work)