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Planning and managing corporate meetings.

Article Excerpt
Implementing a managed meetings and events strategy continues to be one of the last frontiers for corporate travel programs. Though many companies have some policies in place to control and track meetings expenditures, most operate in a non-mandated environment. Meeting managers therefore are charged with building internal compliance by showing their successes in contract negotiations, efficiency, ease of use and stakeholder support. Corporate meetings management often is a contentious issue, with stakeholders unwilling to release control of their events. However, as consultants purport that a managed program typically can save a company between 10 percent and 15 percent in meetings expenditures, many senior executives have begun to support consolidation initiatives.

Adding to the challenge, the market has favored suppliers during the past year. Hotel rates continue to rise while availability in top-tier cities has been limited. Hotels have introduced a number of ancillary fees and surcharges, and begun to require revenue minimums in some areas. Some airlines have eliminated groups and meetings products altogether.

A number of technology providers offer products aimed to help corporations manage meetings and events. Tools range from comprehensive packages that cover sourcing, planning, booking and payment, to turnkey solutions targeted at streamlining one step of the management process.

Though best practices in meetings management vary by company culture and type of event, the following guidelines offer corporations strategies to stage cost-effective meetings that fulfill all corporate objectives.

I. STRATEGIC PLANNING: DETERMINE WHAT STAKEHOLDERS EXPECT AS MEETING OUTCOMES

To ensure the maximum return on the time, energy and money invested in a meeting it is critical to first determine the stakeholders' expected outcome. The planner guides the sponsor and the auxiliary stakeholders in outlining meeting goals.

A. Determine the meeting's purpose and what the stakeholders hope to accomplish. Results should be identified and validated by instruments that analyze return on investment before, during and after the meeting. This might include:

1. Increasing sales or productivity

2. Changing specific behavior

3. Effecting process change

B. Once the objectives have been developed, create a concise written statement of the meeting's goals. Include:

1. Why the meeting is being held and the expected outcomes for each stakeholder in the group

2. Who will attend: Consider group size, gender mix and ages, international component and languages spoken, participants' positions in the company and any special needs.

3. When the meeting can be held and what dates are not feasible. Are the dates flexible? Have all key sponsors signed off on the dates? Can you piggyback on another corporate event?

II. DEVELOPING AN AGENDA

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 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 sponsor and participant expenses

G. Requirements of presenters or keynote speakers

H. Onsite support for distribution of registration materials and other logistical needs

I. Gifts

III. BUDGETING

Staging a program below its budget often pleases senior management, but only if quality is not sacrificed.

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, accommodations, marketing, deposits to suppliers, food, beverage, transportation, entertainment, 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 Web-based tools also might assist in organizing a budget.

4. Tax implications for the company and attendees, especially on incentive programs or international meetings. Note some international hotels list pricing in U.S. dollars; others will use local currency.

B. For expenditures above budget, secure approval from the internal sponsor, and, if necessary, senior executives.

C....

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