Gaining Definitive Control of Your Strategic Meetings Management Program
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Transcript of Gaining Definitive Control of Your Strategic Meetings Management Program
Gaining Definitive Control of your Strategic Meeting Management ProgramRogue Travelers are Bad, But,Rogue Meeting Planners are Worse
Going Rogue…a true story
Travel / Meeting Ecosystem is Changing – AGAIN!
Travelers are changing, travel suppliers are changing, travel itself is changing, and the world is changing - economically and geopolitically
And, meetings / event management is changing
Therefore, Corporate Meeting Manager skill sets must change too!
Strategic Meetings Management (SMM) is the enterprise-wide management of all meeting-related functions with the goal of achieving business objectives such as savings, risk mitigation and improved service. Source: GBTA
SMM
FREQ
UEN
CY
COMPLEXITY
Road ShowsSeminars
Workshops
Trainings
Forums
Banquets
Conferences
Fundraisers
Galas
Expos
Exhibitions
Conventions
Symposiums
Low
Hig
h
Low High
Role of the Meetings Manager
• Protect the corporate reputation
• Contribute to shareholder / investor value
Priority #1a & 1b
Role of the Meetings Manager
Ensure compliance & governance and manage risk
Priority #2
Compliance
Laws
Rules
Regulations
Directives
Policy
Governance
Code of Business Conduct
Audit
FCPA
Risk
Duty of Care
Risk Oversight
Role of the Meetings Manager
Enhance Employee Capital
Priority #3
• Time
• Productivity
• Duty of Care (Safety & Security)
• Communication
Role of the Meetings Manager
Be the Meeting SME
Priority# 4
• Run your department in a professional manner
• Ensure your departmentstrategy is aligned with the corporate strategy
• Implement effective management and operational controls
Relentlessly Control Expenses
• Closely manage yourdepartment’s P & L
• Know your business andyour numbers
• Utilize effective KPI’s andBusiness Intelligence
• Develop plan-oriented budgeting• Track, measure, quantify and report
Role of the Meetings ManagerPriority# 5
So, what does an out-of-control, $800,000-plus meeting in Las Vegas get you?
Congressional Investigation and the Loss of Your Job
Developing & Managing A Successful
Meetings Policy
Objective Manage the Corporate meetings function through a smart, responsible, and disciplined approach to Strategic Meetings Management
Overall GoalDevelop a clear, concise Strategic Meetings Management policy that serves the internal customer, and protects the corporate reputation and shareholder value
Key Fundamentals
Manage compliance and governance, control and contain all meeting spend elements, and ensure meeting attendee safety and security (Duty of Care)
Process Identify internal meeting demand drivers, involve SME’s and key stakeholders, write the policy, gain executive endorsement, and implement
Strategic Meeting Management Policy Landscape
1. Executive endorsement – and approval2. Mandatory use of the Meetings Department – clearly delineated3. Covers all areas of meeting spend control4. Clear communication of the Meeting Policy5. Strong commitment of meetings management excellence
to internal customers6. Internal processes for meetings management 7. Clearly defined channels of communication for all meetings8. Spend management – budget versus actual, and
approved change orders9. Post-meeting assessment – Reporting, financials, customer
feedback and satisfaction
Best Practices of a Clearly Defined Meeting Policy9
Key Elements of a SMM Program
• Strong Strategic Meeting Policy• Meeting Budget (Pre-Packaged
Pro-Forma)• Sourcing Strategy Plan• Technology (Cvent)• RFP • Duty of Care• Negotiations• Contract (Template)• Meeting Management Process• Reconciliation/Reporting
• Enhanced Meeting Detail• Communications• Notes• SME Assignments• Negotiation Documentation• Budget (Actuals vs Budget)• Contract Management• Meeting Plan• Post Meeting Results Review
Drives ExpandedMeetingPlanning
Documentation
Key Elements Meeting Playbook
Non-Professional vs. Professional
Internal Rogue Meeting PlannersFiefdoms
SMM TeamThe Great Disrupters
• Diverse Corporate Groups• Success Management (Claim to Fame)
• You don’t know what we do, or need• We can do it cheaper (Right!!!)• We can do it faster (Ouch!!!)• We have existing relationships that we
don’t want to loose (can you say “gifts and gratuities”)
• We have fun doing it (AKA vacation)• We use technology (PP Excel)
• Cohesive Structured SMM Team• Success Management (Professionals)
• Compliance and governance• Risk mitigation• Business Intelligence
• Budgets and spend visibility• Leverage spend to control expenses• Reporting• Post meeting review based on true, pure,
transparency• Strong Contractual Agreements• Cutting Edge Meeting Technology (Cvent)
SMM
Synchronizing People, Venues and
Quality Processes
TechnologyIncrementalization is innovations worst enemy! You don’t want
continuous improvement, you want radical change.Wal-Mart ISD
Use technology to your benefit
TechnologyIncrementalization is innovations worst enemy! You don’t want
continuous improvement, you want radical change.Wal-Mart ISD
Use technology to your benefit
BudgetingDevelop a pro-forma budget template
• Utilize your SME’s – including travel• Account for all meeting expense categories
Develop a budget for each meeting• Use historical business intelligence• Gain budget approval before signing any contracts/agreements• Hold suppliers accountable for budgets• Manage change orders• Closely track all expenses to the approved budget
Perform a post-meeting assessment and budget reconciliation• Stakeholder• Management Leadership• Savings driven
Top Categories for Meeting Expenses
• Accommodations• Food and Beverage• Audio Visual• Bar• Gratuities
If you don’t control your expenses, you’ll go out of business.David Glass – Former CEO, Wal-Mart Stores, Inc.
Negotiations• Everything is negotiable
• Be a tough – but fair – negotiator
• Clearly delineate your meeting requirements and objectives to the venue
• Maintain an arms length relationship with suppliers / properties / venues
• Always consider 3 – 5 venues for each meeting / event
• Never project your emotions when viewing properties – don’t reveal your position
• It’s not embarrassing to walk away from negotiations – you have a fiduciary responsibility to control the corporate dollars
• Use your SME’s - to your advantage
• The lowest bidder is not necessarily the best choice
Know your suppliers better than they know themselves and their business. Preparation is the key to success.Duane C. Futch
Duty of Care• Embrace Duty of Care
The moral and legal obligations of employers to their employees, contractors, volunteers and related family members in maintaining their well-being, security and safety when working, posted on international assignments or working in remote areas of their home country.
Definition provided by International SOS.
• Americans with Disabilities Act
• Required licenses and permits are governed by State, and local laws
• Business Licenses• Certificate of Occupancy• Health Department – Retail Food• Liquor Licenses – Retail Sales
• Employee Identification Number (EIN)
• Sign Permits• Pyrotechnics• Cannabis Use Permit
Some Serious SuggestionsDon’t fall for the site visit – take your time and don’t be rushed
Don’t believe anything the sales team says – verify and validate
Take copious notes of all conversations with suppliers
Ask the tough questions, Remember, you represent the Company
Get everything in writing – and into the contract
Welcome to Sierra InnMinot, North Dakota
Meeting Leadership RealitiesManage your business in a disciplined, innovative, and compliant manner – it’s about attention to detail
Have a great mentor and knowledgeable SME’s expertise and guidance
Broaden your skill sets – get educated, continuously
Differentiate yourself – especially fromany predecessor
Trust your team – they are your most valuable asset
Questions?
Duane C. FutchExecutive Vice PresidentPartnership Travel Consulting, [email protected]
Thank You