Three Big Concerns Facing Your Live Events Business
Tuesday, November 28, 2017
As a live events professional, are safety protocols, workforce issues and the day-to-day challenges of running the business keeping you up at night? If so, you’re not alone.
In fact, these may very well be the three biggest concerns facing the live events industry today. During a recent meeting in Chicago, the ILEA Board of Governors gathered to talk openly and honestly about the biggest challenges they are facing, both onsite at events and inside the four walls of their respective businesses. What resulted was a strong consensus around the idea that the demands of running a live events business today are greater than ever.
From unique concerns, such as increased onsite safety protocols, to the more omnipresent challenges that encompass the recruitment of talent and controlling costs, the group spotlighted trends that are impacting all businesses in this industry today on some level.
Here is a look at three that ultimately rose to the top of the list:
Whether you are a seasoned professional or just starting out in the industry, these three items will ultimately have a lasting effect on the way in which you operate. The question ultimately becomes: How will you face up to the growing concerns facing your business?
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A New Era for Safety: Get ready for safety and security protocols unlike anything you’ve ever experienced prior. Naturally, the well-being of attendees has always been of top priority, but given the stream of tragic events that have taken place at live events in the past year, event professionals should anticipate a more stringent set of safety protocols.
For example, some states are requiring live events that eclipse 100,000 in attendance to have the presence of SWAT teams—or in some cases, large trucks parked on site to act as barricades to protect attendees. While the peace-of-mind delivered by such safety measures cannot be overlooked, the challenge comes with the added cost that accompanies these actions. Alongside the cost to have these measures deployed comes an increase in insurance, not to mention the additional resourcing that is needed.
Right away this means checking the local safety protocols of the state in which you will be holding your event. Long term, you should anticipate budgeting for bigger safety protocols.
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Finding Quality Help: For some live events professionals, getting the right part-time help can be difficult. For others, it’s the ability to manage the cycle of turnover with these workers that proves to be even more daunting of a task.
In fact, one board member highlighted the fact that her company struggles with keeping part-time service staff, which she prefers to employ over hiring a temporary staffing agency. The peaks and valleys of business make it difficult to keep staff busy on a regular, on-going basis, resulting in a high turn-over rate. Staff members leave for full time jobs or just don’t work often enough to get engaged in the culture of the business. The low unemployment rate in her community further complicates this issue.
The reason for such turnover is hard to pinpoint—and age doesn’t seem to be a driving factor. Whatever the cause, the impact is clear: High turnover leads to added stress and workload on full-time staff. They are the ones who are being asked to train new workers on a continual basis. Ultimately that equates to these professionals not being able to spend the time necessary to properly plan and execute on events.
To address this concern, it could be time to re-evaluate your hourly staff model.
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Taking Time for Tech: Even before events professionals can begin to worry about the onsite requirements, they must grapple with the frustrations that hit closer to home—running the business. From rising healthcare costs to the need to invest in the right tools for the business, running a live events company can often be a delicate balancing act.
Technology is a prime example. These tools can be, as one member described, a “double-edge sword” to the business. On one hand, the value of a tool that can automate the generation of proposals or manage shifts more intuitively cannot be underestimated; while on the other hand, the amount of time and resources needed in order to get up and running can often prove too costly in the end.
Approaching the selection and implementation of technology cannot be taken lightly. Perhaps it is time to tab one employee to help research these tools and make recommendations, being cognizant of the time and resources it will take to get them in place.
Whether you are a seasoned professional or just starting out in the industry, these three items will ultimately have a lasting effect on the way in which you operate. The question ultimately becomes: How will you face up to the growing concerns facing your business?
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