Tables of content
- Introduction to Hybrid Meetings Read
- Who Can Benefit From Going Hybrid? Read
- How Did Hybrid Become So Popular? Read
- Where are Hybrid Meetings Being Hosted? Read
- How Does Hybrid Technology Affect the In-Room Audience? Read
- How Secure is a Hybrid Meeting? Read
- Data Security of Hybrid AGM Technology Read
- What Are Some Benefits of a Hybrid Meeting? Read
- Factors to Consider When Hosting a Hybrid Meeting Read
Introduction to Hybrid Meetings
Hybrid meetings have grown in popularity due to their inclusivity and accessibility to a wide range of people. The hybrid method uses a combination of industry leading apps, software and hardware to create a fully secure, trackable and organized event.
When your organization hosts a hybrid meeting, you’re not on your own, in fact, the meeting is facilitated by a team of experts who make sure the whole meeting runs as smoothly as possible, so you can focus on the hosting and results.
Hosting a hybrid meeting has a host of benefits for you and your members / stakeholders, the core of this is the increased engagement, and thus opening the possibility of higher attendance (both in-house and online) by removing the need for everyone to be in one location.
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Who Can Benefit From Going Hybrid?
In short, any sized organization can benefit and so can their attendees / members. The organization can utilize hybrid technology to help improve their annual meeting for everyone.
Hybrid meetings have become more and more popular over the last decade, from SMEs to multinational organizations.
With audience demographics changing and with that the expectations of your audience, it is important to keep at the forefront of technology. Hybrid meetings can help you engage more people and develop the targeting of younger demographics.
Moreover, giving your members or audience the ability to join the meeting online removes barriers for attendance, these can come in multiple forms, from availability, to transport, to centrality of location and cost.
Hybrid technology allows for a much higher transparency for your meeting, paired with audience response technology for the in-person attendees and you have a fully trackable and transparent meeting.
How Did Hybrid Become So Popular?
It’s no surprise that hybrid meetings have grown significantly in popularity. The way we communicate has been becoming increasingly focused on digital, from social media, to SMS and emails.
As the millennial generation becomes the largest demographic in the active workforce, we can only expect a higher adoption of, and reliance on digital methods. This trend is significant, and impacts on how membership organizations and companies communicate with their member base or shareholders.
Where are Hybrid Meetings Being Hosted?
In fact across the last few years hybrid meetings have been conducted all across the globe, from the UK, to the US, to Canada, Singapore, Australia and The Netherlands, to name a few.
Hybrid meetings are being hosted in a vast range of industries and wielding very positive results, garnering positive feedback and growing year on year.
How Does Hybrid Technology Affect the In-Room Audience?
Hybrid Technology is specifically designed to help improve the meeting as a whole, therefore it is not disruptive to the in-room attendees; in fact, alongside using in-room technology such as Audience Response, it has been shown to improve engagement, attentiveness and perception of the organization.
The core essense of hybrid technology is to create a more inclusive meeting that allows everyone to get involved while simultaneously removing barriers to attendance such as travel or time. Therefore, all of the attendees in-room are passionate to be there creating a more positive experience at the event while still allowing everyone to attend.
How Secure is a Hybrid Meeting?
Ensuring your hybrid meeting is secure is of the utmost importance and hybrid technology is an area that has received a lot of attention. Security is critical to hosting a successful Hybrid event and a meeting’s integrity depends on both the certainty and security of the identification of shareholders/members and access to this secure list, to ensure these virtual participants are who they claim to be.
Furthermore, hybrid meetings are instantly audited and everything is recorded, giving a complete objective record of the meeting, pinpointing exactly what each member did, including abstentions.
Data Security of Hybrid AGM Technology
Making sure hybrid meetings have effective data security is second to none, therefore we have ensured there are a range of measures put into place to keep the data safe.
Therefore our hybrid technology uses modern, industry standard encryption techniques to ensure data protection. Thus allowing for the safety of all personal data used and stored for the meetings.
What Are Some Benefits of a Hybrid Meeting?
Anyone has the Ability to Attend
A traditional meeting requires their attendees to physically be at the location on the set day/s they are held, however this isn’t always achievable for everyone who wants to attend and often leads to increased proxy voting. An annual meeting isn’t just for the business or organization, it is a chance for all stakeholders and members to get involved and have their say.
Anyone Can Speak
The classic format of an annual meeting leans more towards the vocal members of a group and doesn’t cater well for people who don’t feel comfortable raising issues or questions in front of a large room of people, especially if the point is controversial.
Less Margin for Error
With some of the votes being automatically and electronically logged instantly there is much less margin for error, as opposed to the classic hand raise or ballot boxes of old.
Having some (or even all) of the votes done electronically either in the building via audience response technology or using online voting tools for the remote attendees, it saves a vast amount of time and counts votes instantly.
Improve Engagement with Younger Demographics
Understanding and opting the technology heavy world we live in is vital to the success of your future annual meetings, not adapting and evolving your meeting is a sure fire way to decrease engagement and lower attendence or member retention (In the case of membership organizations).
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Factors to Consider When Hosting a Hybrid Meeting
Adapt or Get Left Behind
Hybrid meetings are now commonplace amongst companies and membership organizations of all sizes, and the importance of staying with this development should not be overlooked. If you fail to adapt, you will be left behind, hosting outdated meetings and causing upset amongst your attendees and disappointment from those unable to participate remotely.
Age Range of Your Audience
As the global workforce changes, of course so do the methods and technologies along with it. With the growing number of millennials making up the majority of our workforces, it is time to embrace change and make annual meetings engaging for all audiences. This is a large reason why hybrid meetings have become more prevalent in recent years.
Inclusivity & Alienation
Similar to the above, hosting a hybrid meeting allows for everyone to get involved, removing the barriers of travel and cost to the individual, allowing for the silent majority to be heard.
On the flip side of this, having a fully virtual meeting could alienate older generations and reduce their attendance, so to appeal to both demographics, hybrid meetings allow for everyone to be involved and comfortable.
Hosting a hybrid meeting allows for a much more transparent event. For instance, your shareholders or members can see the voting outcome in real time, but this also means that your chair has a good idea of the results as they come in, allowing them to prepare their comments.
On a similar note, questions can be addressed and anyone may participate, either anonymously or by name. Creating this transparency can be both an advantage and a risk, but handled correctly it makes your audience much more trusting and engaged.
Reluctance to Embrace Change
As with any updates of technology there will always be a certain level of resistance. However with the industry changing, hybrids and even virtual AGM will become more and more common in coming years; therefore a more organic rather than forced approach would be recommended. Change is your choice.
Engage a Wider Audience
With a Hybrid Meeting you open up your options to engage your audience, not everyone is passionate enough to attend an on-site event or even vote if it’s not convenient for them; removing barriers such as travel, as alluded to before, increases your engagement and can improve your attendance, both real and virtual.
Hybrid meetings have a plethora of benefits from removing attendance barriers, to higher involvement and improved transparency. On top of these factors a hybrid meeting increases the efficiency with an easy, secure and audited format for your meeting, reducing the overall time and removing potential efficiency affecting issues.
At Lumi we are committed to helping membership organizations and companies improve their meetings with our technology, expertise and facilitation; as an industry leader we have helpedcountless clients host successful, secure and smooth Hybrid meetings.
If you are interested in holding a Hybrid meeting for your organizationwe’d love to hear from you, contact our team here: https://www.lumiglobal.com/contact