Event organisers have increased salaries and consultant fees to help alleviate the impact of the cost of living crisis, according to a new survey.
UK conference and exhibition venue The Eastside Rooms in Birmingham conducted a survey of 125 event professionals from around the world late last year to identify the challenges and opportunities faced due to economic headwinds.
The survey found 28 per cent of associations/not for profits increased staff salaries whilst another 9 per cent increased freelance/consultant fees.
One in four (25%) corporates increased staff salaries whilst another 5 per cent increased freelance/consultant fees.
A key finding from the report was that 83 per cent of organisers saw an increase in event costs last year.
In addition, the report showed that 24 per cent of organisers (both associations and corporate) are providing flexible working arrangements to meet their needs of their team.
Only 2.5 per cent of corporates have seen the need to decrease freelance/consultant budgets, whilst making no changes to their staff compensation, while 2.5 per cent of associations have also decreased freelance/consultant budgets. However, 7.5 per cent have also seen the need to reduce staff salaries or benefits.
“It is clear the industry continues to evolve through the current economic challenges faced by both associations/not for profits and corporates,” said Leanne Bladen, director of sales & marketing at The Eastside Rooms.
“Staff are the life blood of our industry, so it is a real positive that they are on the whole being looked after.
“We undertook this survey to ensure we truly understand our clients and their current needs. The output has been incredibly powerful, and we are considering many of the key findings in our ongoing communication and activity with our clients, especially how we can help them support their teams.”