At its Education Forum earlier this week in Palmetto Bluff, S.C., FICP released highlights from its first quarterly Pulse Survey. The initiative, led by FICP’s new Influence Committee, is intended to provide you – and the meetings and events industry at large – with a look at trends impacting your work
Below are highlights and findings from the Pulse of meetings and events professionals.
As noted above, while the majority of meetings professionals (53%) noted the sizes of the meetings being planned were staying the same, more than one-third were seeing that number increase. More of those at companies that were a combination of financial services and insurance noted the meetings were staying the same in both size and number, as did those with the most professional experience.
While nearly half of respondents indicated lead time was staying the same, more than one-third of respondents also noted the lead time was decreasing. So for many meetings professionals, meetings are getting larger, meetings are on the rise, with less time to plan them.
Or, in the words of 2017 FICP chair Joseph Scully when he presented the findings, “We’re doing more, with less time. But, it also means that the work we’re doing is important.
Regulatory changes were noted as the current and future trend more (35%) meetings professionals anticipated to have the greatest impact on their work in the next 6-12 months, followed by technology to enhance the attendee experience, cited by 23% of respondents. Understandably, regulatory changes were cited in the greatest numbers by those at companies offering a combination of financial services and insurance products, and technology for attendee experience was cited by more professionals at insurance-only companies than other firms.
While heightened security and health concerns were only cited in this trend list by 15% of meetings professionals, 27% indicated they are either re-evaluating international programs or no longer considering international locations as a result of factors such as terrorism, security risks, health concerns or the U.S. travel ban.
For 25% of meetings professionals, international concerns were not applicable as they do not hold international meetings and events. Most of those who do not hold international meetings were at financial-services companies.
Over the last year, the DOL Fiduciary Rule has been top of mind for many U.S. meetings professionals, as have similar regulatory changes in Canada for professionals there. While 23% of respondents reported no changes to incentive events, collectively more than 40% of respondents reported changes in qualification rules, new types of events being offered or elimination altogether of qualification-based incentive events.
About the Pulse Survey
In April-May, meetings professionals and hospitality partners were invited to take a brief survey to share their experiences on trends and conditions impacting their work.
FICP will conduct future Pulse Surveys on a quarterly basis and provide benchmarking with past-survey data. Download your full copy of the Q2 Pulse Survey Report for additional insight from your peers, and stay tuned for future Pulse survey invitations.