Means to Connect

Events in a corporate environment are often staged to communicate company strategy, change internal company behavior, launch a product or service, motivate, train or reward staff, or influence the external behavior of customers towards the brand. In many instances, they bring company employees together, support wider marketing or sales initiatives, incentivize team achievements, or entertain senior leaders.

Corporate event planning goes beyond meeting planning. Although conferences and meetings may form the lion's share of the workload, other events you may be asked to organize include corporate hospitality, client entertaining, conventions, exhibitions, and employees events such as incentive travel reward programs, team building, motivational events, receptions, parties, and charity fundraising days. Planning and executing a successful corporate event is no simple task. It's typically a months long process consisting of several stages and a variety of organizational steps.

Smaller organizations often have staff members organize the events, and many have employees who dedicate all their efforts to this task exclusively. With larger companies, though, planning becomes much more challenging. Instead of setting up a holiday party in a catering hall, a big company might want to tie in ways to build their brand with marketing strategies. They might also need to engage guest speakers and employ social media tactics.

Although the COVID-19 pandemic undoubtedly impacted the event-management industry, the analysts at Allied Market Research report that event planners can expect significant industry growth in the coming years. Allied claims that the events industry had a 2019 value of $1.1354 trillion and is estimated to reach $1.5529 trillion in 2028. This increase amounts to an 11.2 percent compound annual growth rate(CAGR)for 2021 through 2028.