For most businesses, an annual general meeting, or AGM, is an important part of the business calendar.
Private companies don’t have to host an AGM, while public organisations have to host an AGM under the Companies Act 2006. However, some private businesses might consider hosting an annual meeting, so that they can come together to understand how things are going and what can be done to improve the situation moving forward.
Whether you’re legally obliged or not, hosting an AGM can be a great way to get all your company’s major stakeholders together to find out how things are going and lay out your plans for the coming year.
AGMs require a lot of preparation and effort, so they need to be managed effectively if you want to get the most out of them. Keep reading for some small changes you can make to your AGM to ensure that everyone achieves their objectives during this crucial company gathering.
Put Together Clear Presentations
Financial reports are a key part of any AGM. As such, you need to make sure you present financial information in a clear and concise manner. Highlight key performance indicators and financial trends that tell a compelling story about the organisation’s health. Consider various ways to share this information, including different types of chart and visual representations of data. You can then ensure that everyone understands the information and is able to make the most of it.
Hire A Corporate Events Planner
Managing the logistics of your AGM, such as the location, catering and schedule, can be time-consuming and challenging. If you get it wrong, then the event could be a disaster or, at best difficult to manage. As such, you should consider leaving the finer details to companies that are skilled in corporate event planning, like Sullivan Group Corporate Event Planners. They can manage the logistics of your meeting so that you can get on with the itinerary and other business-specific aspects of the day.
Involve As Many Stakeholders As Possible
With a lot of attendees, it can be tempting to limit the number of speakers you have and how much involvement they have to make things more manageable. However, this can be counterproductive. Getting a diverse range of opinions and insights enriches discussions and provides attendees with a well-rounded view of the industry and the organisation’s performance. So, you should try to incorporate opportunities for stakeholder input. Allocate time for open discussions and questions to address concerns and gather valuable feedback throughout the AGM, so that you can give everyone an opportunity to share their knowledge and unique experiences working within your business.
Get Post-Event Feedback
Every AGM is a learning opportunity, so make the most of it by gathering feedback from attendees afterwards. This knowledge will help you understand what worked well and what could be improved for future events. Learn how to create a comprehensive post-meeting feedback survey, as this is the easiest way to gather information quickly. You can then put any relevant points into action at the next AGM, so that you don’t make the same mistakes twice.
A Brief Summary
Ultimately, an AGM is not just a legal obligation; it’s also an opportunity to strengthen relationships with stakeholders and set the direction for the future. By making small changes that enhance engagement, transparency, and efficiency, as listed in this article, you can deliver substantial benefits and create a more meaningful AGM experience for everyone involved.