Like the first days of winter or your next dentist appointment, AGM season always seems to come around too soon. For many IROs, event management skills probably weren’t listed in the job description. Yet each year, these individuals become critically involved in their company’s most important annual event.
So just how do IROs cope? The ones we spoke with unanimously agreed that the first element of a good AGM is choosing the right location – and booking it early. Very often venue availability drives the date of your AGM, not the other way around. And since many companies are competing for venue space during a similar time frame, it makes sense to book as far ahead as possible. On average, most IROs book their venues at least six to nine months in advance, though some have been so impressed with how well a particular location works on AGM day that they arrange on the spot to secure it for next year.
‘We normally book the venue about four months in advance,’ says Kelly Kerr, CFO and director at Innova Exploration in Calgary. ‘I also try to determine the number of people who will be attending and work from there.’
Gillian Hoff is senior director of meeting and events services at Toronto’s Design Exchange, a popular venue in Toronto’s financial district and home of the original Toronto Stock Exchange from 1937 to 1983. ‘This year especially, we’ve seen more companies booking their AGMs farther in advance – some by as much as two years ahead,’ she says. ‘Companies are also wanting to add something different to the mix and are becoming less formal.’
Determine your key messages
Establishing key messaging is one of the most challenging aspects of the season, according to the IROs we talked to. They work closely with legal counsel and the marketing group or ad agency throughout the process, with key messages forming the basis for the first section of the annual report and for much of the AGM presentation. Many companies reinforce their key messages by using the artwork and style of their annual report in posters, a slide template and other marketing material.
Even planning the menu can be a daunting task. Be sure to find out in advance what your venue’s rules are about food and drink. Most will not allow plates to be carried into the auditorium, and no one wants to give a speech to the sound of clattering cutlery, so be sure you’ve timed your agenda right.
Most of the IROs we spoke with said that the lion’s share of AGM planning falls to in-house staff, with some engaging outside consultants to assist. Kerr likes to keep it simple: ‘Most of the planning is done in-house, but it helps to have suppliers you trust.’
Hazel Winchester, IRO at Agnico-Eagle Mines, says: ‘Having one supplier take care of AV [cordless microphones, podium, screen, head table, tent cards for head table, plasma television screens, teleconferencing and webcasting] at our AGM has been a real timesaver for me. Their involvement frees me up to focus on other activities, and having one point of contact taking care of all the details is very assuring’.
With venue, date, messages and menu out of the way, all that’s left are the thousands of details that make an AGM truly exceptional. Will the event be webcast? What are you doing about staging and lighting? Who is doing the PowerPoint? If everyone from the team will be at the event, who will put out the press release? And the big Canadian question: has anyone considered whether to translate the event into French? All these questions need to be answered soon, for AGM season is just around the corner.
