Research consistently highlights the significant return on investment served by meetings and events – and yet, when economic times are uncertain, the budgets for meetings are often the first victims of company cutbacks. Cliff James takes a look at the all-round benefits of maintaining meetings and considers the top tips for managing a successful business event.
Good meetings are good for business in a variety of ways, according to successive studies, and regular face-to-face conferencing with colleagues and target audiences is credited with enhancing corporate success. Although videoconferencing and other forms of computer-mediated communication are on the increase, research commissioned by Hilton Hotels in 2009 revealed an overwhelming consensus amongst senior executives that offsite meetings build stronger business relationships and are a necessity, not a luxury.
The Hilton study uncovered a multiplicity of ways in which face-to-face meetings can bolster a company’s corporate ethos and strategic development, while also providing a high return on investment. From inspiring workforces and strengthening team bonds to encouraging breakthrough thinking, more than 80 percent of executives believed that meetings bring out the best in people when compared to other communication forms.
“The research illustrates that despite the current economic challenge, meetings still matter,” confirms Andrew Flack, the Vice President of Sales and Marketing in Hilton Hotels Asia Pacific. “A large majority of those surveyed felt that face-to-face meetings are where the real business gets done and where the biggest breakthroughs are made.”
The Hilton findings are supported by academics such as Professor Richard D. Arvey of the National University of Singapore, who investigated the importance of such conferences in a White Paper on ‘Why Face-to-Face Business Meetings Matter’. “Face-to-face business meetings afford participants opportunities to develop transparency and trust - an integral part of business relationships,” he states. “Face-to-face meetings are also strong vehicles for participants to learn the relative norms of the organisation.” The meeting becomes a subtle presentation of the company’s culture and a means of reinforcing the corporate objectives.
In the light of such research, it becomes all the more important to ensure that the meeting is thoroughly planned and effectively executed. Planning the meeting should be seen as an investment, and those companies that neglect the planning process risk undermining their return on investment.
The role of the event manager has been compared with that of a theatre director who orchestrates the props, timings, cues, budget, team motivation and overall stage management of the ‘performance’. In coordinating so many variables, preparation is everything.
Initial considerations
The fundamental point to consider when planning any meeting is its purpose. Meetings are a means to an end, a process rather than a destination, and the conclusion of the meeting should be regarded as the commencement of the actions that have been generated at the meeting. The planning should therefore begin with defining the aims and objectives of the meeting.
Once the objectives of the meeting have been identified, the list of participants and the agenda should both fall into place. If an issue needs to be addressed that involves members of a particular team, invite that team and list the issue on the agenda. Soliciting input on the agenda items from participants is also good practice, as is distributing the agenda well ahead of the scheduled meeting date. This prepares participants for the event and engenders a sense of active involvement and inclusion within the process – and is likely to enhance team bonding and stronger business relationships.
With the agenda and list of participants identified, the type of meeting that is required should become more apparent. In drawing up an initial checklist, it may be useful to think about the size of the group, ages of attendees and any special needs. When determining the meeting date, take into account bank holidays, festivals and avoid conflicts with other company events. If the meeting is to include a presentation, speakers may need to be booked – and this could influence provisional dates for the event.
Consider seating arrangements, audiovisual and production equipment, refreshments for each session, entertainment activities and team building exercises. If the event is to be held offsite, transportation may also need to be figured into the equation. Devising a timeline for the production of invitations, promotions and other materials is a particularly effective means of keeping on top and staying sane – as is delegating some responsibilities to a colleague.
Budget
Effective management of the overall budget is critical to the success of the meeting and will determine many aspects of the event, such as the venue, whether delegates travel is to be included, and if there is a contingency fund for emergencies. When preparing the finances, ensure that a financial officer has approved and signed off the budget at an early stage. It may also be worthwhile exploring whether the meeting can be part-funded by sponsorship. Other basic budgetary considerations include: determining the currency in which the account should be run, the dates by which accounts must be settled, and whether suppliers need to present quotes in advance.
Destination
Perhaps the most important consideration after the budget, the event destination will undoubtedly have a substantial effect upon the attitudes and expectations of participants. It is imperative to select a suitable destination, taking into account where attendees are travelling from, flight schedules and frequency, travel costs and hotel availability. Factors such as weather, security and convenience should be balanced to determine the suitability of the location.
Venue
Professional congress organisers and destination management companies can be found at many international cities to help the bemused event organiser find the right venue. In any chosen destination, the first step should always be to formulate a selection criteria based on the type of hotel that will best meet the requirements, the proximity to airports, the number and size of requisite conference and guest rooms, and the availability of presentation equipment.
Once a shortlist of venues has been drawn up, a first-hand visit to each site is advisable to make the final decision. The event organiser’s aptitude for skilful negotiation is invaluable at this stage to ensure that the best rates are secured, as is a fine eye for detail to make certain that cancellation policies and contracts are acceptable, before submitting the request for proposal (RFP).
Refreshments
Details of the dietary requirements of all participants should be gathered in advance and a good quality caterer employed. An army marches on its stomach and a troop of hungry delegates will lose concentration, no matter how stimulating the agenda. A buffet could be considered for lunch as it offers quicker service and greater variety, and enough time should always be scheduled into the timetable for meals.
Guest speakers
A professional speaker should only be recruited if their portfolio corresponds with the key objectives of the meeting and the needs of the delegates. Well ahead of the event, the organiser should brief the speaker on the purpose of the meeting to ensure that their presentation matches the desired outcomes. It is also important to keep to the budget by confirming fees and contacts in advance, and to maximise the use of the speaker at the event.
Evaluation
When the event comes to a close, the chief priority for the organiser is to gather comprehensive feedback from the delegates on all aspects of the meeting. These responses constitute a valuable appraisal of the meeting, a gauge to measure the return on investment, and a foundation upon which to build future events. Although the conclusion of the meeting may feel like the end of the event, it is from this point that the original objectives of the event begin to have effect.