|
Article Excerpt
The complexities of managing corporate meetings in 2003, even in a buyer's market, can vex even the most experienced planner: Lead times have dwindled to never-before-seen levels. Corporations wait until the last minute to approve or cancel events and dedicate less money to their composition than in years past. The Internet has redefined how meeting sites are found, attendees are managed and data is handled. And the importance of security has become paramount.
The foundation of a well-managed meeting, however, remains constant: developing a cost-efficient method of imparting critical information geared to the goals of the corporation and the meeting sponsor. As corporations limit the number of meetings and dollars spent on them, those events that are held are increasing in importance.
The following guidelines will help you manage events that will meet the needs of your corporation, meeting sponsor and suppliers--in a cost-efficient manner.
1. FIRST STEPS
To ensure a favorable outcome for the internal client holding the meeting (the sponsor), participants and vendors, the corporate meeting planner must understand stakeholder expectations. The planner helps the sponsor outline meeting goals, and conveys them to the stakeholders.
A. Determine objectives by looking at why the meeting is being held and what the stakeholders hope to accomplish in such a setting. Measurable results should be identified and should be validated by ROl instruments before, during and after the meeting. This might include:
1. Launching a product or issuing new information
2. Training personnel
3. Rewarding high achievers
4. Explaining new policies or goals
5. Reviewing company strategy
Each meeting's objectives are distinctive and should operate with respect to the business landscape. The planner should factor in such considerations before moving ahead with site or speaker selection, budgeting and any other event details.
B. There are times when a planner who does not originate or conceptualize a meeting is left in the dark. When that happens, pursue a meeting with the internal client in order to come up to speed and explain the importance of understanding strategy before making tactical recommendations.
C. Once you know what the objectives are, create a concise written statement of the meeting's goals. Discuss them with other meeting stakeholders and secure their written approval. Include:
1. Why the meeting is being held and the expected outcomes for each stakeholder in the group
2. What type of meeting it is, e.g., management, board, customer, sales, training or incentive
3. Who will attend: Consider group size, gender mix and ages, international component and languages spoken, participants positions in the company and any special needs.
4. When the meeting can be held and what dates are not feasible because of conflicts, holidays or other industry events: Are the dates flexible or firm? Have all key sponsors signed off on the dates?
5. As you develop responses to these points, factor in:
a. An outline of the daily sessions, including expected attendance, meeting space requirements, seating arrangements, setup times, start and end times, and audiovisual and production needs
b. Daily food and beverage requirements, including meals, receptions and breaks
c. Air/ground transportation needs
d. Entertainment and recreation needs, and whether any of these are group activities for the purpose of team building or sales incentive tournaments
e. Timelines for invitation, promotion, registration and production of meeting materials, including establishment of online registration capabilities
f. Budgeting for all sponsor and participant expenses
g. Requirements of presenters or keynote speakers
h. Administrative support for distribution of name badges or other materials
II. BUDGETING
How much will the meeting cost to produce? Bringing in a program below budget can make you a hero, but only if quality is not sacrificed and only if the program was designed to break even.
A. Consult with your sponsor, company's accounting office or financial officer on how to budget to be compatible with internal accounting systems. Consider:
1. Which expenses will be assumed by the meeting sponsor?
2. Factor in staff time, marketing expenses, air and ground transportation, accommodations, deposits to suppliers, food, beverage, entertainment and recreation, taxes and gratuities, audiovisual equipment, and production costs. Budget for unanticipated expenses.
3. Don't forget often-overlooked expenses for licenses (for music, written materials) and insurance (liquor and general liability, business cancellation and interruption).
4. For guidelines, check budgets from past meetings to gauge spend and ensure inclusion of all categories, Use checklists available through industry associations, handbooks, periodicals and educational events. Meeting planning software also might assist in organizing a budget.
5. Tax implications for the company and attendees, especially on incentive programs or international meetings.
B. For expenditures above what was budgeted, secure buy-in from the internal client.
C. Make...
|
