65% of meeting professionals say meeting spending is increasing. (1) This increase makes sense since nearly half of employees prefer in-person meetings. (2) There are other compelling reasons to spend money on in-person meetings, as well, including:
- The use of artificial intelligence (AI) is on the rise.
61% of meeting and event tech-savvy professionals use at least one form of AI. (3) - Climate change, sustainability and the environment are a priority in meeting planning.
80% of meeting planners have sustainability in mind when they plan meetings. (1) - Participants desire in-person collaborative and brainstorming meetings.
80% of employees prefer in-person brainstorming and collaborative meetings. (2) - Meeting participants want more personalized experiences, especially when it comes to food and beverage options.
Roughly 50% of meeting participants want personalized experiences and activities. Slightly more than half of participants seek personalized food and beverage options. (4) - Ensuring that meetings are inclusive is another top priority in meeting planning.
87% of survey respondents indicate that either their organization or their clients are actively weaving inclusion into their meetings. (5)
The budget for an offsite meeting can be difficult to wrangle, especially if it is handled by a busy in-house team, or by someone who has limited event planning experience. There are many details to consider. Some of these details can easily get overlooked and/or can quickly exceed the total amount your organization is willing to spend.
Fortunately, by preparing ahead and focusing on top priority items first, it is entirely possible to stay within the allotted budget. Below are key budget considerations when planning a meeting.
1 – ARTIFICIAL INTELLIGENCE
The introduction of artificial intelligence (AI) is an exciting development, because it offers a way to get more work done with less effort. While AI is on the rise, it should never trump the human factor among an organization’s best assets.
Meeting planners can leverage AI to make meeting planning more efficient and productive. Even more importantly, AI is a good tool for personalizing the most critical aspects of human connection and ensuring they are relevant to attendees.
How to incorporate AI in your meeting planning:
Analysis
AI can be used to gather information about participants and their interactions or behavior patterns. This might be done through engagement with a chatbot, a specific app or via triggered actions. Examples of the latter include reminders for daily agendas or activities, or polls, surveys, knowledge learned or retained.
By understanding attendee behavior patterns and interactions, meeting planners can share data with decision-makers for better insight into ways to engage their people.
Additionally, data analysis can provide critical information to customize meetings and experiences – tailoring them to attendees and helping to achieve the set goals. As a result, content and experiences will resonate, creating lasting memories and developing deeper bonds.
Chatbots and Automation
Chatbots are ideal for meetings that take place offsite, especially those that involve multiple days of activities. They can be programmed to assist with check-ins, provide 24/7 support to answer frequently asked questions and offer insight into the local area that are customized for participants.
Networking
Because AI can study behavior patterns from attendees and participants, it can assist meeting planners in creating more personalized experiences. Meeting planners might use AI to share ways that people with similar interests or goals can network with each other. Alternatively, they might leverage AI to make recommendations for content such as training, books or internal resources about subjects in which participants have expressed positive sentiment or engagement patterns.
2 – SUSTAINABILITY
Setting a goal to reduce the negative impact on the environment is becoming more popular among meeting planners – and with good reason.
- Food waste can make up 20% to 60% of your waste stream. (6)
- The average offsite meeting wastes between 15% and 20% of the food it produces. (6)
- Salads are one of the most widely wasted food items. (6)
- Recyclables typically make up 35% of the total waste from a meeting or other event. (7)
- 41% of waste from a meeting or event will go to a landfill. (7)
- Almost 23% of gifts or event swag will end up in the trash, according to Forbes. (8)
How to incorporate sustainability into your meeting planning:
Meeting planning efforts should consider venues that utilize renewable energy, exercise water/energy conservation and take advantage of recycling options. Eco-friendly initiatives can be incorporated into other aspects of meeting planning, including:
- Composting or donating food and beverage excess
- Utilizing products that can be cleaned and disinfected and used for multiple events, e.g., linens, flatware, glasses, dishes, name badges or lanyards
- Minimizing single-use items such as plastic water bottles, Styrofoam or paper tableware, disposable utensils, condiments and coffee bar items
- Furnishing rooms with natural, organic free-trade products from certified green manufacturers e.g., shampoo, soap
- Requesting biodegradable packaging for products used during the meeting
- Reducing paper waste by going digital
There is a caveat to going digital. Utilizing digital tools for registration or check-in and apps for real-time engagement can be an excellent practice for meetings. However, keep in mind that even technology produces greenhouse gas emissions – albeit significantly less.
Consider compressing media files, encouraging the use of SD instead of HD videos if used during the meeting, and advising participants to delete unnecessary files after the meeting. These practices will minimize greenhouse emissions as a result of digital use practices.
In addition to environmental sustainability, meeting planners might look at how a meeting supports and improves the economic, social and cultural growth of the community where it is held. One study found that almost 60% of meeting participants care about local communities and the planet. (9) Activities that can take place around the venue or the community may provide ways for your participants to learn more about the area (and locals), create team challenges and make a positive impact of your meeting in the local community.
Local vendors can be selected to minimize travel-emissions as well as provide culturally, economically, and socially sustainable products, services and solutions. Additionally, utilize products that are in-season.
MORE TO BUDGET: THE NEXT CHAPTER
The second half of this two-part series explores collaboration, personalized experiences, inclusivity, and strategic budget planning. Just as with Part 1, the second segment will shed light on how these essential elements can be harnessed to achieve your meeting objectives while maintaining innovation and financial prudence. Read Part 2 here.
Looking for a polished meeting planner to set up your offsite, in-person corporate meeting or event? Contact Gavel International for more information.
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SOURCE(S):
1 https://www.amexglobalbusinesstravel.com/meetings-events/meetings-forecast/
2 https://www.meetingsmeanbusiness.com/business-leaders-video-series/best-meetings-happen-person
3 https://meetings.skift.com/reports/event-technology-made-simple-2023-edition/
4 https://view.ceros.com/hilton/hilton-2023-trends-report/p/1
5 https://mitmagazine.co.uk/Meetings/Strategy/In-person-events-and-budgets-to-increase-in-2023-finds-Amex-GBT
6 https://www.limevenueportfolio.com/media/tw0bjgz5/001704-lvp-bfr-futurefood-the-survey.pdf
7 https://www.cvent.com/en/blog/hospitality/sustainable-meetings-events
8 https://www.forbes.com/sites/forbesbusinesscouncil/2022/03/23/a-guide-to-offering-sustainable-swag-at-corporate-events/?sh=49b98e9a5aeb
9 https://www.ihgplc.com/en/news-and-media/news-releases/2021/ihg-hotels-resorts-reveals-guests-growing-passion-to-travel-better
10 https://www.washingtonpost.com/sf/brand-connect/hilton/the-science-of-being-there/
11 https://mitsloan.mit.edu/ideas-made-to-matter/new-study-quantifies-impact-face-to-face-interactions-innovation
12 https://www.myhrfuture.com/blog/adaptive-teaming-intentional-collaboration-in-the-new-world-of-work
13 https://hbr.org/2016/04/run-meetings-that-are-fair-to-introverts-women-and-remote-workers
14 https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-wins-how-inclusion-matters
15 https://hbr.org/2018/01/how-and-where-diversity-drives-financial-performance
16 https://hbr.org/2019/12/the-value-of-belonging-at-work
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