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Article Excerpt
The days of the unmanaged, overlooked corporate meetings program appear largely to have receded into history. Most corporations today have implemented at least some type of control over group travel expenditures. Some have taken steps to establish a consolidated, strategic meetings management program and installed policies, created chains of command for meeting budgetary approval and selected preferred meeting suppliers. Industry associations within the past year have issued white papers and recommended specific strategic corporate meetings management procedures.
However, the meetings devil is in the planning details. As the industry turns back to something approximating a seller's market for corporate meetings, those planners, regardless of their level of experience, staging the logistics of an event and negotiating contracts for meeting services today may find their positions precarious: Hotel rates are soaring in many large markets and airfare reform has altered the way some carriers negotiate for group and meeting travel. A poorly negotiated contract can cost a corporation thousands of dollars in unnecessary expenses, while a well-staged event can engender incalculable levels of good will.
Meanwhile, meetings technology capabilities continue to advance and the roster of technology suppliers evolves as meeting software offerings consolidate and are repackaged, shuffling planners' toolboxes.
With all this in mind, the following guidelines will offer your corporation the ability to stage a cost-effective meeting that serves all forms of corporate objectives:
I. 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 instruments that analyze return on investment 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 corporate policies or goals
5. Reviewing or updating 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 destination, site or speaker selection, budgeting and any other event details.
B. There are times when a corporate planner who does not originate or conceptualize a meeting is not included in the development of objectives. When that happens, pursue a meeting with the internal client in order to explain the importance of understanding overall strategy before making tactical recommendations.
C. Once the objectives have been developed, 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? Can you piggyback on the dates of another corporate event?
5. As responses to these points are developed, 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 and ground transportation needs
d. Entertainment and recreation needs, and whether any of these are team building activities 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 meeting sponsor and participant expenses
g. Requirements of presenters or keynote speakers
h. Onsite support for distribution of registration materials and other logistical needs
II. BUDGETING
How much will the meeting cost to produce? Staging a program below its budget often pleases senior management, but only if quality is not sacrificed and only if the program was designed to break even.
A. Consult with your sponsor, company accounting office or financial officer on how to budget to be compatible with internal accounting systems. Take into consideration:
1. Distribution of expenses among stakeholders
2. Staff time, marketing expenses, air and ground transportation, accommodations, deposits to suppliers, food, beverage, entertainment, recreation, taxes, gratuities, audiovisual equipment and production costs. Budget for unanticipated expenses.
3. Analysis of 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 or...
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