Travel restrictions have been imposed by the government due to the unanticipated arrival of COVID-19. With the advent of the global pandemic, an upheaval of the events in our day-to-day life has taken place. Apart from that, people are urged to keep their distance to avoid the spread of fatal infections. Virtual has become the new normal as circumstances shift in 2020. Organizations and enterprises all over the world are relying on virtual meeting technology to stay afloat, even in the midst of a global crisis. It enables businesses to interact and network with international delegates and remote workers seamlessly right from home comforts. In the last two years, there has been a sudden increase in the number of virtual annual general meeting, conferences, and events. Organizations all around the world have decided to transit their most important events like AGMs online in a digital realm.
Nowadays, a wide variety of virtual AGM platforms that offers advanced features are available on the internet. The platform’s engaging features and technologies enable all levels of stakeholders to engage and network with the company’s director remotely.
Hosting virtual annual general meetings has several advantages that go far beyond those of on-ground AGMs. The advantages of virtual AGMs include increased attendance, improved engagements, lower expenses, and a better experience for attendees. Apart from that, virtual AGMs overcome other hurdles encountered during on-ground AGMs, such as geographical restrictions, onsite venue booking, travel costs, and space limitations. Attendees can join the virtual AGM from anywhere in the world using any device or browser. Thus, escalating the need to purchase travel tickets.
In this blog, we have listed effective tips to host a productive online AGM. So, without any further ado, let’s start!
What is an annual general meeting (AGM)?
An annual general meeting (AGM) is a gathering of shareholders/stakeholders and the company’s director conducted once a year. The meeting includes a discussion of the year’s overall performance as well as future goals. Due to an unexpected prognosis of a global coronavirus pandemic in 2020. Organizations are left with no other option rather than transforming the most important industry meeting into the virtual space.
What are virtual AGMs?
Virtual AGMs are online meetings between interested shareholders and the company’s director that are held over the internet. Annual General Meetings (AGMs) are held every year at which the company’s directors and interested shareholders debate the company’s overall performance and discuss the future goals. Instead of being held on-site, virtual annual general meetings are held on a comprehensive virtual AGM platform. It allows people to tune in remotely without having to travel from their different geographical locations. Attendees can access the event at their leisure using any device or browser that can connect to the internet.
Tips to Host a Productive Online AGM
When compared to regular annual general meetings, virtual AGMs work differently. The guidelines for conducting a virtual AGM contain several rules and laws that organizations must adhere to. To achieve a successful virtual AGM, you must use the correct technology and choose the right virtual event service provider. We have listed some tips to host a productive online AGM below, have a look:
Notify meeting participants via emails
When corporations invite shareholders to participate in a virtual annual general meeting, they should also send an email with specific information. The email must provide step-by-step instructions on how to navigate through virtual AGM and participate in it.
Because not every participant is tech-savvy, there may be some technical difficulties they might face during the journey. A step-by-step instruction guide will help in making their journey easier and smooth. It will help in assisting participants in quickly accessing and navigating the event.
The date, time, duration, and link to the virtual AGM all must be included in the notice issued to the shareholder. Allow participants to ask questions and express their votes and opinions in the thorough introduction. Make sure you send out an online AGM notice along with a full introduction seven to ten days before the virtual AGM.
Go with the right virtual AGM platform to host a productive meeting
To host a productive virtual AGM, you’ll need to use the correct technologies. Select the right virtual AGM platform that offers interesting tools and interactive features. A platform that offers you ample networking and engagement facilities is the right pick. Look for the features like virtual networking tables, live audio/video chats, networking lounges, live polls, Q&A sessions, and more. A comprehensive virtual meeting platform will facilitate participants to have free-flowing interactions during virtual AGMs just like physical ones. Additionally, a platform that allows attendees to participate in the polls, surveys, and ask questions to the speaker helps keep attendees engaged. Thus, allowing organizations to host a productive virtual AGM that ensures success.
Keep virtual AGM settings private
While organizing a virtual AGM over a virtual AGM platform, privacy is a big consideration. Choose a platform that is built on a safe and scalable base that pledges to protect your business’s privacy.
Prepare for a smooth virtual AGM by doing rehearsals
It is advised to do as many rehearsals as possible before the virtual AGMs. It helps in running a successful virtual AGM. To ensure a seamless event, practice in full dress code with actual presentation materials in front of someone.
Always have a backup plan
Virtual events may encounter unanticipated technical difficulties at the last minute.
To run your virtual AGM successfully, have a backup plan available. When sending out notices for virtual AGMs and follow-up emails, let attendees know about your backup plan too.
Do a dry run
Before the most important event of your organization, it is advised to do a dry run. It helps in identifying any technical issues in advance. Fix it and ensure a smooth transition of your virtual AGM when it goes Live.
We have amalgamated the best tips in the article mentioned above to help you host a productive online AGM.