We have heard a lot of rumblings about company meetings as the economy continues to pick itself up. Meetings and events are valuable tools in the arsenal of national and international businesses. Meetings and events foster collaboration, idea-sharing and generation, and employee retention.
Some interesting information:
- Fortune 1000 Chief Marketing Officers said that meetings and events provide the highest return on investment of any marketing channel
- Incentive programs have been shown to be two to three times more effective than cash at motivating employee performance
- Business travel creates 2.4 million US jobs, and meetings and events create 1 million of these jobs
- Nearly 200,000 travel-related jobs were lost in 2008 with another 247,000 predicted to be lost in 2009
- Business travel accounts for $39 billion in US tax revenue at the federal, state, and local levels
Good managers encourage the professional growth of employees – the opportunity to stretch their minds and swap ideas – and employers must make sound investments in key staff in order to retain top talent and secure their bottom line. The real value and measurable benefits of meetings and events are derived from the collaboration and cooperation that can only occur when people are brought together face-to-face.
With all of the attacks in the media that meetings and events at some corporations are taking, we often forget the real importance behind these meetings. Collaboration, sharing, networking and brainstorming are valuable opportunities that have a positive impact on the success of the attendees and the companies that they represent. In our efforts to ensure fiscal responsibility, let’s not throw out the baby with the bath water.
Has the economy impacted your meetings and events?
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