What is a Hybrid AGM?

How can you host an annual meeting where everyone feels connected, while also keeping it efficient, accurate and secure? Go hybrid. A hybrid meeting is a perfect way to streamline and improve your meeting while keeping your audience engaged.

Hybrid AGM Meaning

A hybrid Annual General Meeting AGM or hybrid meeting is a form of an electronic meeting which uses the best elements of the other two major forms of meetings, traditional AGM and virtual AGM.

What is a Hybrid AGM?

Ultimate Guide to Hybrid AGM

A Hybrid meeting allows the attendees to decide whether they’d prefer to attend the meeting in person or online, this could be from the comfort of their home, office or mobile device.

Our Ultimate Guide to Hybrid AGM will allow you to see the clear value of hosting a hybrid AGM within your organisation. Click on the 'Download Now' button below to get your free copy.

Download

hybrid-agm-mockup

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.

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.

Download

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 its 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 the centrality of location and cost.

Hybrid technology allows for 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 Can Lumi Help Streamline my Meeting?

Watch Ben Riley, our UK Business Development specialist explain how our voting devices can help you streamline your next AGM.
 
Streamline Your Meeting

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

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.

Save Time
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).

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.

Transparency
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 helped countless clients host successful, secure and smooth Hybrid meetings.

If you are interested in holding a Hybrid meeting for your organization we'd love to hear from you, contact our team here: https://www.lumiglobal.com/contact

In Room vs Virtual Infographic

Advances in technology means you can now hold your meeting entirely online. But if you want to retain your traditional meeting format, we can help with that too - making areas such as voting, Q&A and registration smoother and easier.

Increasingly, organizations are looking to combine these 2 formats in to a hybrid meeting, allowing people to attend online alongside the in-the-room attendees.

Our free infographic will help you understand all of the differences between an in-the-room only meeting, a hybrid or virtual meeting.

Download Now

Are Hybrid AGMs Secure?

Hybrid AGMs are becoming increasingly popular due to their higher capacity for member engagement. However, as more and more organizations adopt them, speculation over the security of this electronic voting system has emerged.

So, is a Hybrid AGM secure? The short answer is that its security is determined by the technology you use.

The long answer is that Hybrid AGMs are no less secure in nature than any other meeting. The security element comes into play when you introduce technology, some of which is by nature more secure than the rest. And since security is of paramount importance at your AGMs, you want to make sure your technology is up to the task. This isn’t only applicable to Hybrid AGMs either – technology is being increasingly utilized fully in hybrid, physical and virtual AGMs, and all of it must uphold the same standard of security in order to maintain AGM voting procedures and overall integrity of your meeting.

That is why it’s important to choose technology built with security in mind. For example, our patented Lumi technology is regularly PEN tested by third parties and has been independently proven to be accurate and secure. Furthermore, it uses modern, end-to-end encryption techniques to uphold data protection laws and AGM voting rules.

When you ensure the technology you use is up to the security standards you require, Virtual and Hybrid AGMs can actually be more secure and easier to govern than traditional meetings. Paper ballots are replaced by digital records, making them fully auditable and easy to track. A digital platform also makes confirming eligibility of proxy votes easier to manage. 

However, the real benefit of a Hybrid AGM event solution is the increased trust in the organization it affords. When using a secure technology solution, both physical and virtual attendees know their voice is being heard and their input is making a difference, ultimately becoming more invested in the matters at hand.

Virtually virtual” and more, defined

As more and more businesses navigate the digitization of their meetings and events, the vocabulary used to discuss these has evolved.

Meetings started by simply taking place in-room. In the last several years, hybrid and virtual meetings have dominated the conversation. Then, in the last year, but especially during the global health crisis of 2020, meeting organizers have had to be more creative, and new terms for those meeting styles have emerged as a result.

Here are our most common (and favorite) meeting types, defined:

In-room meeting
This meeting type is the kind that has been happening for millennia. It’s where individuals get together in person to conduct every aspect of the meeting.

Over the last few decades, technology has been introduced into these meetings more and more, from handheld voting devices to kiosks to digital registration. Presently, those still conducting in-room meetings do so with varying degrees of technological enablement.

Virtual meeting
Just as an in-room meeting takes place 100% in-person, virtual meetings take place 100% online. This can be as simple as a Zoom meeting, or it can be as official and secure as a dedicated Virtual AGM platform in order to enable functions like secure authentication, voting, attendee participation, and full audit trails.

Despite taking place online, Virtual AGMs or meetings can actually be more secure than their in-room counterparts. Advanced cybersecurity features in dedicated virtual meeting platforms make it so that motions, votes and even questions can be anonymous and protected or fully transparent, or indeed any degree in between, in a secure environment. Additionally, virtual meetings offer auditable results and engagement insights in a way that in-room meetings are usually not able to provide.

Hybrid meeting
Just as it sounds, the Hybrid Meeting is a hybrid between the in-room meeting and the virtual meeting so that attendees can participate either in-person or virtually. This usually means introducing a high level of technology into the in-room meeting experience so that the virtual attendees can participate on the exact same level as the physical attendees.

Hybrid AGMs and meetings require a lot of strategic thought to ensure a seamless experience for both groups of attendees, but with solutions like the ones Lumi offers, this is made easy and accessible.

“Virtually Virtual” meetings
This term has come into popularity in the last few months as a result of the global health crisis. In many countries, fully virtual meetings are not allowed due to legislation and requirements set out by government bodies. However, most have realized the need for virtual offerings for the vast majority of shareholders and attendees, which is where “Virtually Virtual” arose.

In this meeting style, only a few people participate in-person, while the rest of the attendees tune in virtually. It is technically a Hybrid meeting, but the focus is more on the virtual experience than the in-room experience. This allows event organizers to maintain social distancing while engaging all available attendees virtually, all while still operating with the guidelines of most countries that disallow fully virtual AGMs.

To learn more about the difference between In-Room, Hybrid and Virtual meetings, click here to download our helpful infographic. If you’d like to learn more about creating a “Virtually Virtual” meeting solution for your meeting, click here to get in touch with our team.

The value of Hybrid AGMs in today’s world

As the world has had to adapt to a new way of working, accommodating more people virtually than ever before, one of the biggest challenges for organizations has been around finding new ways to hold important meetings like AGMs. Even as some businesses reopen and some semblance of normality starts to return, it has become clear that virtual accommodations will be a necessity rather than a luxury moving forward.

In the face of this requirement, more and more businesses are exploring the value of Hybrid AGMs to address these new challenges while still meeting their existing needs. With a Hybrid AGM, some attendees are in-room, while others attend virtually. This is enabled through virtual platforms as well as in-room technology so that all attendees experience the same meeting, wherever they are.

More flexibility

As parts of the world start to return to normal, there is an air of uncertainty around government guidance for large gatherings, leading many businesses to postpone planning or decision-making. But AGMs are mission-critical for large organizations, so a way forward is essential.

Hybrid AGMs offer the flexibility required to move forward confidently, allowing organizers to shift the balance of in-room versus virtual attendance in line with shareholder preferences and government guidance. This level of flexibility ensures that things can move forward as needed without worrying about losing meeting functionality in the future.

Better accessibility

Even beyond times of crisis, one major benefit of Hybrid AGMs is improved accessibility. No matter where in the world shareholders are, they can have their say by participating in Q&As and all manner of voting procedures from afar.

A better audit trail

The digitization of the in-room experience, paired with the virtual attendance options, means that the meeting as a whole is more auditable as a result.

More engagement

By offering virtual attendance options, shareholders who would otherwise remain unengaged are more incentivized to participate. Hybrid AGMs help to remove barriers for attendance and participation, meaning more votes and a more comprehensive and productive discussion at your meeting.

As businesses move forward after this period of crisis, it will be essential to embrace more virtual options, and Hybrid AGMs offer the perfect opportunity to do this flexibly and effectively. To learn more about how to plan a Hybrid AGM, click here to download our Hybrid AGM Planning Checklist.

Want to transform your next meeting?

If you have a question, would like more information or would like to talk to one of our experienced team, then please complete the short form on the right and we will be in touch as soon as we can. We look forward to hearing from you.

Lumi Global needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at anytime. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, check out our Privacy Policy and GDPR Compliance statement.

Lumi Global needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at anytime. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, check out our Privacy Policy and GDPR Compliance statement.

Lumi Global needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at anytime. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, check out our Privacy Policy and GDPR Compliance statement.