In response to the global economic recession, most companies are meeting on reduced budgets, but not necessarily with reduced frequency, suggests a new survey from Worktopia, a White Plains, N.Y.-based provider of online booking technology for small meetings.
According to the survey, which was distributed in October 2008 to Worktopia customers and prospects, 47 percent of companies reported no change in the number of simple offsite meetings that they're planning for 2009. Another 14 percent anticipate holding more meetings in 2009 than they did in 2008. And of the remaining 39 percent who expect a decline in meetings, 69 percent expect the decrease to total less than 20 percent in 2009.
Although most companies aren't reducing meeting frequency, a majority—71 percent of Worktopia respondents—
are reducing meeting budgets. As a result, 86 percent of companies are taking new measures to control the costs of offsite meetings. Approximately 54 percent of them are doing so by booking lower priced meeting venues, 37 percent by deploying a strategic meeting management process and 32 percent by moving from national to regional meetings.
Although 41 percent of attendees currently fly to most of their meetings, Worktopia expects cost-cutting measures to persuade a greater number of attendees to attend drive-to meetings closer to home in 2009.
Given its findings, Worktopia has released the following tips with its survey to help meeting planners manage meeting spend in a down economy:
1. Manage Corporate Offsite Meeting ROI: Consider going down brand to reduce meeting expenses or holding meetings in alternative locations/metros closer to the majority of attendees. You can take advantage of lower meeting and travel costs, while sacrificing little in terms of local attractions and amenities.
2. Offsite means on-task: Keep in mind that the money saved by holding a meeting onsite is often offset by the temptation for participants to visit their desk and catch up on other work, which can add up to a major distraction. Taking your meeting offsite can pay off in increased productivity as attendees stay focused on the agenda at hand.
3. Book online to save time and money: Booking simple meetings through Worktopia's Universal Meeting Solution (UMS) reduces time spent from days to hours, directly impacting productivity. In one single online session, the planner can search and compare best available rates on meeting space and overnight accommodations in real-time at thousands of meeting venues.
4. Simple tools help control meeting spend: Too often, corporate executives complain, a lack of visibility makes it difficult for them to control what their companies spend on simple offsite meetings. UMS provides a broad spectrum of tools that offer significant cost-savings, cost-control and compliance-related benefits, including comparative quotes, audit trails and detailed meeting activity report.
For more information, visit
www.worktopia.com.