Event Planning and Management - Chapter 12 - PDF

12 == Events -- the future -------------------- -- -- - After the first 18 months of the pandemic, with limited or non-existent interaction in physical spaces, many events companies and events organizations folded, despite furlough provision in some countries, as they were unabl...

12 == Events -- the future -------------------- -- -- - After the first 18 months of the pandemic, with limited or non-existent interaction in physical spaces, many events companies and events organizations folded, despite furlough provision in some countries, as they were unable to sustain them- selves financially without adequate cash flow. - Event business models have been subject to examination, and many that are finan- cially unsustainable (whether in the continuing pandemic or in the post-pandemic era) are either failing or undertaking fundamental restructure. - The 'gig economy' that was named for the events industry depended on large swathes of freelancers, many of whom were ineligible to be furloughed due to the temporary nature of their work contracts. As a result, many have chosen a different path, moving into other areas for their continuing employment. - Many specialist, skilled events staff have found themselves more in demand as events venues reopened, with higher rates of pay for freelancers (and we would argue that these professionals were undervalued and underpaid before the pandemic). - adapt your approaches to fit with the future landscape of events as circumstances change; - explore the themes that will impact on the landscape of events in the future; - create new, bespoke and unique concepts to enhance the relevance and appeal of your events to new and existing audiences; - identify emerging trends that could impact positively or negatively on your events, and be prepared to adapt your events to take account of these trends; - using the tools identified in Chapter 3, find sources of information that keep you up to date with news and developments in the events industry and beyond. #### Future themes ##### Sustainability ##### Inclusivity ##### Wellbeing ##### Co-creation #### Creating bespoke events ##### Custom events ##### Customer-made events #### Innovation is key to future success ##### Imitate to innovate ##### Collaborate to innovate 1. Better Access - Industry newcomers have a dedicated marketplace for event-specific work opportunities and placements. - Offering companies access to an engaged talent pool (students, graduates, newcomers). 2. Better Quality - High-quality event-specific work experience opportunities that allow industry newcomers to demonstrate their skills and expertise while learning and developing. - Opportunities that better prepare industry newcomers to enter the industry. - Facilitated through mentorship, education, and resources. 3. Better Value - We will only advertise paid opportunities unless the value of unpaid work is equal in other respects (training, skills, charities). - By applying for a role on the Future Event Leaders marketplace you know the company is dedicated to supporting you and the role is suitable and relevant to an industry newcomer. - Through an effective vetting process, only viable work and placement opportunities will be posted through the marketplace. With our feedback loop process, you can share your experiences, as we will work only with organizations that align with these values. - Co-creation involves asking the target audience to contribute towards the development of ideas and concepts for an upcoming event. Social media networks such as Facebook, Twitter and LinkedIn make it easy for people to contribute, evaluate and refine ideas and concepts. - Event planners need to spend some time understanding the emerging trends and developments that are likely to have an impact (whether positive or negative) on the events that they are arranging. - The future trends and developments that will soon be influencing the events of the future are most likely to be already happening in other industry sectors. Stay ahead of the curve by looking beyond the confines of the events industry for new ideas and inspirations that can enhance creativity and innovation for your next event. - Collaborating with individuals and organizations that are particularly creative and innovative in their approach will enable you to enhance the level of creativity and innovation of your event. 1. What three things could you build into your event planning process to take account of emerging trends in events? 2. Which three sources will you use to keep up to date with changes that affect the events industry? 3. Identify two possible changes that could impact on the events industry, including the Covid-19 pandemic.