Click below if you would like to leave the ETM Australasia website and be directed to the CTM Investor Centre. To return, simply click the close button Visit X site

Local solutions, delivered globally

ETM provides local service solutions to customers around the world. Please select your local region, and start experiencing the ETM difference!

Risk assessment for business events

With the new Financial Year now upon us, many businesses will be scoping out their meetings and corporate events plans for the year ahead.

With the removal of travel restrictions and capacity limits, it’s not surprising that companies are eager to lock in as many opportunities for face-to-face meetups as required. But with limited events planned over the last two years, and possibly a high turnover of staff during the pandemic, is your team really prepared for the reality of event planning in a post-COVID world?

COVID or no COVID, the risk assessment considerations for event planning have always been an important part of our clients’ business events strategy, and for good reason. The logistics involved in large group movements and activity scheduling require hours of research and contingency planning, a clear contrast to the fun and glamour of actual event production.

So, what are the most important considerations when drafting your meetings and events plan for FY23?

1. Availability

The travel and events industries are dealing with a two-year backlog of bookings that have been postponed again and again while lockdowns persisted. Pending the number of delegates, finding a venue or travel provider that has availability and capacity for your event will likely be the first hurdle you will face. Without insider knowledge and strong industry relationships, venue sourcing both within your event budget and aligned to your event requirements could take hours of research and would most likely result in many disappointments.

2. Supply Chain

Mitigating the long-term effects of COVID-19 on the supply chain is an important consideration for industry professionals, especially when it comes to food and beverage selection and ground transportation. There’s an array of reasons that supply shortages are occurring, not only from the pandemic but from natural disasters, international wars and country sanctions. What good is an event on a tropical island if you can’t find enough shuttles to transport guests? Furthermore, staff shortages in hospitality may impact service levels, so always work closely with the Food and Beverage team at the venue/hotel in advance to ensure expectations are met.

Quote featured in blog

3. Attrition and Cancellation Fees

While suppliers provided many free cancellation clauses to encourage bookings during the pandemic, now that restrictions have eased, many of these clauses are no longer offered. Be careful to check what the terms of your booking contracts are so you can ensure these are suited to your company’s requirements and you fully understand what cover is included under each clause (i.e., force majeure).

4. Travel and Event Insurances

If you can’t guarantee flexible booking conditions through your venue and travel suppliers, at the very least you should ensure your event is covered by an adequate level of insurance. This is especially important for international events and should be researched carefully to determine any exclusions or excess costs.

5. Complete the Onsite Risk and Emergency Management Plan

To do this you will need to:

  • Consider the potential risks listed for your event.
  • Determine the likelihood and consequence (e.g. serious, minor) if the incident did occur.
  • Determine the mitigation for each risk. i.e. what is being done prior to the event to minimise the risk?
  • Develop your contingency plan. i.e. what will be done if the incident does actually occur? This needs to be clear, concise and specific as to whose responsibility it is.

When is the right time to outsource your company’s event management?

It’s not all doom and gloom when it comes to planning events in FY23 – many venues have been refurbished during the downtime and new health and safety measures are now the standard, meaning your guests’ comfort and security are top priority during their stay.

The excitement of travel and face-to-face gatherings is as high as ever, meaning it’s likely your ROE (Return on Experience) will soar high above expectations and your company’s morale will lift substantially.

Event planning is the best job in the world (if we do say so ourselves), and it’s not surprising that many internal teams take pride in organising their company’s meetings and events schedule. This does not mean that outsourcing a professional event management company is not an option, and we highly recommend that you engage an agency as soon as your event planning has commenced.

At ETM, our teams can be involved as little or as much as you like. We can provide complete end-to-end event management – including venue sourcing, agenda planning, event theming, group travel, post-event reporting and more – or simply complement your in-house events team with our bespoke event support services. Whatever your needs, we’ve got you covered.

To learn more about risk assessment for business events, contact ETM today.

Take the stress out of event management with our expert event planning team.