In today’s work landscape, which emphasizes remote setups, businesses are increasingly relying on face-to-face events to fortify their company culture. However, recent data reveals that the event industry faces significant pressure due to this shift.
A survey conducted by IBTM World’s team for The Culture Creators Report 2023 found that nearly 87% of event professionals believe that events hold more significance in the current remote working scenario. These in-person experiences are pivotal in fostering relationships, improving team performance, and uplifting team morale, especially with workplaces becoming more physically distant.
Nick Nagle, marketing manager at IBTM World, highlighted the industry’s post-pandemic revival and addressed the emerging issue of burnout. The stresses and challenges faced by event planners amidst these new dynamics are taking a toll on the industry, as evident from the data.
The shift to remote work has soared fivefold since the pandemic, rising from 5% in 2019 to 25% presently, reflecting almost 40 years of pre-2020 figures. This transition has caused around 79% of event professionals to admit that their job roles are more stressful now compared to pre-pandemic times.
Despite being recognized as the third most stressful job globally, trailing only’military service’ and ‘home health aide,’ event planning surpasses the stress levels of professions like teaching, surgery, and social work. The elevated stress levels are attributed to increased responsibilities encompassing technological, data-driven, and digital aspects, reshaping event planners’ roles.
This evolving landscape compels event organizers to explore beyond traditional comfort zones, cater to digitally empowered audiences, and embrace emerging experience technologies. However, despite increased responsibilities and workload, 90% of event professionals report no changes in their reward packages, adding to their burdens without proportional compensation.
While two-thirds of event professionals acknowledge that businesses grasp the importance of events, they feel undervalued personally, raising concerns about potential recruitment and retention issues. Research from The American Psychological Association underscores that half of undervalued employees seek new roles within a year.
This looming risk of losing skilled talent in an industry critical for business connections underlines the need for acknowledgment and support. Even amidst these challenges, about 64% would recommend the industry to friends and family, signifying the passion and commitment of event professionals.
IBTM has introduced a ‘ReFuel’ zone in their 2023 event, offering attendees a retreat for physical and mental rejuvenation, acknowledging the strains faced on the job.
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