The recent financial industry collapse, along with the current down economy, has popular opinion linking excessive executive compensation to meeting, event and incentive (ME&I) programs. To dispel that myth, St. Louis-based Maritz Travel has released a new whitepaper for meeting and corporate travel planners to help them demonstrate to key decision-makers the value of ME&I programs during an economic downturn.
"The current tone of the public conversation has caused an unnecessary 'stop all meetings, events and incentive trips' reaction," Maritz Travel Vice President of Marketing Chris Gaia said in a statement. "Maritz can help conference planners and event management teams form a more thoughtful view on how to use the current situation as an opportunity to make more effective investments that demonstrate business performance."
Titled "Financial Services Crisis and Its Effect on the ME&I Industry," the Maritz whitepaper includes tips to help planners better understand, track and report on the business value of corporate meetings, events and incentives, with a focus on transparency in the areas of cost, programming and attendance.
"While no one would argue with the outrage and need to respond to executive excesses, it is important to step back from the emotion of the times and ensure that the desire to do something does not cause a number of unintended consequences that further damage what has become a fragile economic situation," reads the whitepaper. "The broad-brush reporting of this crisis has, we believe, unfairly assumed an organization's use of corporate meetings, events and incentives as prima facie evidence of wrongdoing."
In a down economy, especially, Maritz argues, companies need meetings, events and incentives for the purpose of motivation, engagement and education—to the economic benefit of employees and employers alike.
Concludes the whitepaper, "While the current economic crisis has served as the catalyst for companies to prove the value of their investments, increased regulation and scrutiny will not simply blow over. Being successful in this highly charged environment in the future requires new ways of organizing and communicating both decisions and business results."
To download a free copy of "Financial Services Crisis and Its Effect on the ME&I Industry," visit www.maritz.com