There's no doubt that the past 18 months has put huge strain on the events industry. Pipelines disappeared almost overnight, coupled with the fact that the only way that (some) revenue could be generated was through the delivery of the (at the time) "new" virtual events. This left those not on furlough having to work harder than they ever had previously, with less job satisfaction and often less salary.
Big challenges. Understandably for most event based businesses, the focus was on survival, with everything else pretty much taking a back seat, including their teams.
There were some businesses that managed to face the storm and still keep the communication, openness and team spirit going, but the reality is there were very few.
The businesses that didn't manage this balance are now facing a huge challenge as the industry returns. The jobs market has switched completely in a short period of time and wages are increasing. If someone doesn't feel the company looked after them in the tough times they will vote with their feet, leaving just when they are needed most.
We've seen some well-known event businesses haemorrhage staff in the past few months, and know of many (many) more who's team members are just waiting for the right opportunity to come along. For sure, some are burnt out and leaving the industry, but a sizeable portion are moving straight off to other event businesses.
Whilst tempting, it isn't enough to just focus on rebuilding your P&L. So what to do?
Clients of ours that have spotted this problem are rapidly running surveys, re-appraising their benefits packages and trying to get that pre Covid magic back. Working out what made them special, understanding from an employee point of view where they went wrong and trying to make it right.
If you want to stop people leaving you'll need to draw a line under the past by admitting mistakes, explain why you acted the way you did and then make improvements, fast.
Here are the top 6 most common "improvements" we see being made right now within the events industry
1) A commitment to ongoing flexible working
2) Personal development plans. Real plans that team members can see will lead to real promotion opportunities
3) A greater focus on individual wellbeing and mental health through "softer" management, paid counselling / advice etc
4) Increased benefits packages – increased holidays, incentives, paid charity days etc
5) Salary reviews. Salary increases are starting to happen, and if not immediate they are being confirmed for later in the year based upon company /individual performance
6) Better communication. Where the company is now, what the plan is, and what that will mean for everyone
If you would like more information / market insights, or you need great talent to join your team please contact us on: 0345 548 8000 or email: email@example.com
Live Recruitment is an award winning recruitment agency that specialises in the events industry.