As we head towards the new gateway of digitalisation, virtual events, trade shows, meetings, conferences, fairs, and hybrid AGMs have paced up their game and became exceptionally popular. With the recent crisis of novel Coronavirus that hit all nations, more and more businesses are relying on hybrid AGM solutions with each passing day for communicating and exchanging their thoughts with shareholders.
Annual general meetings are usually held traditionally; hence the shifting may require convincing the mindset of the attendees. In this article, we are going to share a complete overview of what are hybrid annual general meetings, why do you need to adopt hybrid AGM solutions, how to hold a successful hybrid AGM with shareholders, and what key benefits hybrid AGMs offer to organisations and shareholders?
Time to get started with a clear, quick, and easy guide for hybrid AGMs!
What is a hybrid AGM?
Annual General Meetings are one of the important events for any organisation, yet many fail to attend it due to geographical constraints, resulting in missing out on vital information that is being scrutinized in such meetings. That’s when hybrid AGMs step in and aid us in hosting a successful meeting. It completely resolves the barrier of geographical limitations.
Technology is ever upgrading and updating, since the current trend is shifting towards digital ways it means that with every advancement in technology the event industry will also benefit. It enables shareholders who were once unable to be present at the Annual General meetings, to attend the meeting from the comfort of their own space virtually. Hybrid AGM services provide a safe and secure environment to broadcast your annual general meetings live thus enabling shareholders and members of the company to connect in a visually rich space.
Hybrid AGM Solutions and Services
Attendees may have doubts and queries regarding the event, hybrid AGM solutions help to clear these doubts and queries via online Q&A sessions after the conclusion of the meetings. To attend an AGM all the general members and shareholders of the organisation first need to register themselves and then login. Registration allows the member to register their vote for the number of shares they own. The registered shareholders have the authority to interfere and ask clear their concerns (doubts, questions etc.).
Guests are observed in some company’s hybrid AGMs; however, they are not provided with any right to vote or the authority to ask questions. The platform keeps a track of all the actions that take place and stores them such as registration number, views, questions, comments and even polls for auditing purposes. This track of information is useful to determine poll results. Because of all these features, hybrid AGMs have become a global trend as it makes communication easy and convenient while simultaneously reaching a wider audience.
Hosting Hybrid AGMs with Shareholders
It is significant to have annual general meetings with all the shareholders of any company/organisation. Since the COVID pandemic hybrid AGMs are observed with a steady increase in participation.
Since the hybrid AGMs take place over the internet shareholders from anywhere in the world can participate and attend the meeting. To attend a hybrid AGM meeting virtually the shareholders only require a device with an internet connection. For a successful hybrid AGM, keep the following points in mind:
1. Keep an eye out for technology
Both the components, virtual and physical, of a hybrid AGM meeting requires technology, thus using the latest technology is beneficial as it will minimise glitches and errors.
2. Scout and pick the best compatible platform for your virtual AGM
Security and privacy are one of the main concerns when hosting a hybrid AGM meeting. Select a platform that ensures complete protection of the valuable information of your company. All the crucial information relies on the security that is provided by the selected virtual platform. Valuable information may include feedback, polls, QnA sessions etc. These are some of the features that virtual platform must provide.
3. Stable and reliable internet connection
For the virtual component of the hybrid AGM meeting, a strong internet connection is required, not only to send messages but also to host the meeting. Buffering, unclear audio and video tearing may happen in case of bad internet which no one appreciates. Have a strong and reliable internet connection and interact with the attendees without any disturbance.
4. Efficient and easy to understand set up
Having a simple yet effective way to set up a hybrid meeting is always recommended. By keeping the meeting easy to understand and efficient you can save the time wasted on the hassle of understanding the meeting and invest that same time in the meeting content.
5. Identify and work with a professional virtual AGM service provider
Having a professional virtual AGM service provider means that your meeting is in safe hands. Be clear with your requirements and let the professional handle your meetings every year to ensure maximum effectiveness.
Some main advantages of hosting a hybrid AGM
1. Accessibility around the globe: Virtual AGMs take place over the internet, thus anyone with a device and an active internet connection can attend the meeting from anywhere in the world, whereas in traditional meeting some shareholders may fail to attend the meeting. Exclusiveness is another feature that you can leverage when hosting a hybrid AGM to allow only selected individuals or regions from accessing the meeting. Livestreams can be accessed by the registered staff of your company.
2. Easy and increased attendance: Because the meeting takes place over the internet, the shareholders can attend the meeting remotely. Due to these feature in hybrid AGMs, it results in having increased attendance and participation.
3. Reduced expenditure: The virtual component of the meeting reduces the expenditure significantly by eliminating travel, accommodation, and venue expenditure. A hybrid event sustains the essence of a traditional event while simultaneously being cost-effective.
4. Improved engagement: Hybrid annual general meeting keeps the essence of traditional meetings and thus boosts the overall engagement of the attendees. It also provides additional efficient and easy to use features such as voting polls, QnA sessions, and topic discussion. All these features help in keeping the attendees engaged.
5. Collection of data and tracking record: Hybrid meetings keep a track of the record and stores valuable data such as registration number, guest list, polls, results, views, comments, questions etc., this helps the company keep a track of actions which is valuable in the long run. These data can also be accessed in real-time.
Over to you
In the current times, more and more companies are entering a gateway to digitalization and are switching to hybrid annual general meetings from traditional ways. Hybrid AGMs helps to increase the overall engagement and enables the shareholders to leverage their authority and present their opinions thus taking the company towards their goal efficiently. Start adapting to the trend and boost your company’s engagement and interact with your shareholders with Hybrid AGMs.