The resurgence of internal meetings
Milton Rivera, vice president of global business development at Amex GBT explores the resurgence of internal meetings in a continually hybrid landscape...
In the dynamic landscape of modern business, the resurgence of internal meetings stands out, signalling a new era of progress, creativity, and connectivity.
Recent research from Insights revealed that the trend of many companies having no immediate plans to return to the office full-time, if ever, has persisted with 92 per cent of teams becoming more hybrid since the onset of the pandemic.
However, the shift towards dispersed workforces presents its own set of challenges.
Organisations must navigate potential pitfalls such as declining employee engagement, diminished alignment with business objectives, logistical hurdles in staff training, and the risk of employee burnout. In this context, internal meetings and events are critical tools for businesses to address these challenges effectively.
The growth in internal meetings
Amex GBT’s 2024 Meetings and Events Forecast captures insights from more than 500 business professionals worldwide, providing a panoramic view of the meetings landscape that shows signs of optimism and resilience. With 82 per cent of respondents expressing high levels of confidence in the industry's future, it's evident that meeting professionals are bullish about the trajectory of in-person gatherings. This sentiment is further reinforced by the preference for face-to-face interactions, with 59 per cent of meetings slated to be entirely in-person and an additional 20 per cent adopting a hybrid format.
According to the forecast, internal meetings and client/customer advisory boards are poised to witness the most substantial increase, with 42 per cent of respondents anticipating a surge in such gatherings in 2024. This resurgence is not merely quantitative but also qualitative in nature.
The value of internal meetings
Internal meetings play a crucial role in fostering innovation, as shown by the recent study, Investing in Travel to Strengthen Culture and Increase Engagement conducted by Harvard Business Review Analytic Services in partnership with Amex GBT.
The research underscores the value of face-to-face interactions in driving creativity, problem-solving, and team cohesion. With 81 per cent of respondents asserting that in-person engagements are pivotal for inspiring innovation, it becomes clear that physical proximity fosters an environment conducive to unlocking teams' full potential.
As businesses navigate the path towards recovery and reinvention, the imperative to convene in person for brainstorming sessions, strategic planning, and team-building exercises becomes a necessity.
Respondents attribute the greatest business benefits of in-person internal meetings to the cultivation of stronger relationships between employees/teams (74 per cent) and enhanced collaboration (60 per cent).
Empathy becomes evident as a pivotal component of collaboration and innovation, and according to the research it flourishes with in-person interactions. Eighty-three per cent agree that business travel enhances awareness and empathy towards coworkers and customers, underscoring the significance of interpersonal dynamics in fostering effective collaboration and psychological safety conducive to innovative idea generation.
These findings hold significance, particularly in light of insights from innovation experts emphasizing empathy's critical role in successful innovation. Recognizing others' perspectives and emotions nurtures effective collaboration and the psychological safety necessary to introduce novel ideas. Notably, Google's 2016 Project Aristotle identified psychological safety as the most influential factor contributing to enhanced productivity and creativity among its working teams. Additionally, a study by Catalyst involving 889 employees underscores the constructive impact of empathy, revealing that employees under empathetic leadership are significantly more likely to report being innovative compared to those under less empathetic leadership (61 per cent versus 13 per cent).
Investing in the future
Given the multitude of advantages associated with internal meetings, companies must make strategic investments in solutions that streamline meetings and events.
Centralised oversight of travel, coupled with collaboration with a single Travel Management Company (TMC), presents considerable benefits. Foremost among these is the provision of duty-of-care services for employees travelling on behalf of the organisation.
While travel constitutes a significant expense, well-managed internal travel represents a savvy investment. It not only fosters stronger relationships among employees but also enhances collaboration, boosts employee engagement, cultivates a more cohesive organizational culture, and fosters feelings of inclusion. Thus, it is crucial for companies to partner with the right TMC to maximise the returns on their travel investments.
As we navigate the dynamic terrain of the meetings and events landscape, one thing remains abundantly clear: the essence of human connection is immutable.
In an era defined by digital disruption and remote interactions, the resurgence of internal meetings symbolizes a renaissance of collaboration, creativity, and camaraderie. By embracing the transformative potential of face-to-face interactions and leveraging the expertise of travel management solutions, organizations can chart a course towards sustained growth, innovation, and success in a hybrid world.
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