Even as in-person meetings and events return in greater numbers this year, the global events industry continues to face challenges related to rising costs and labor shortages. Global DMC Partners has released its Q2 Meetings & Events Pulse Survey, which looks at the current state of salaries, hiring, and other trends in the global MICE industry.
The survey was conducted throughout the month of June and includes responses from 237 meeting and event professionals, mostly based in the US. One of the key findings from the report was that eventprofs in the US and Canada had higher salaries on average than those in other parts of the world. Nearly half of U.S./Canada respondents reported salaries between $75,000- $124,000, while over half of international respondents are making $74,000 or less.
When it comes to hiring, companies are still struggling to fill roles with a smaller talent pool. 65 percent of respondents indicated that their companies are currently hiring or recently made new hires, but 45 percent of international respondents and 30 percent of US/Canada respondents reported having to increase compensation packages to attract candidates.
In addition, about half of respondents noted that it’s taking about one to three months to make a new hire in the current market, with 17 percent reporting that it takes more than three months. Many organizations (40 percent) are also looking to other industries to find candidates. The most desired skills in new hires are onsite event management and event tech and registration platform knowledge.
Notably, almost a third of respondents indicated that some or all of the new hires made in the past year have left the organization. Top reasons cited include work/life balance, pay level, and change of industry. Most respondents were happy with their work/life balance, particularly due to the ability to work from home.
“While we do see some improvements in the quality of work-life balance, we notice more and more that it is sliding back very quickly due to the fast-paced demand for in-person events,” said Global DMC Partners President & CEO Catherine Chaulet. “More than ever, planners’ roles as masters of all trades — negotiators, HR team builders, and creative gurus — are tested.”
Unsurprisingly, sustainability is a big focus of meeting planners, but (also unsurprisingly) it’s more important to those outside the US. The US in general has been lagging for years when it comes to sustainability initiatives compared to places like Europe, and the events industry is no different.
31 percent of US/Canada respondents reported that their clients or companies have sustainability initiatives in place, compared to 45 percent of international respondents, while sustainability goals are an important factor in choosing destinations for 60 percent of international planners, compared to only 25 percent of those in the US and Canada.
Meeting planners are also increasing their budgets as costs rise, and many (41 percent) expect the budgets to continue to increase from 2022 to 2023. Rising airfare costs are driving more organizations to prioritize locations that are closer to where attendees are located and/or raise their pricing, which is a trend that is expected to continue.
The full report can be found for free here.