Things To Consider Before Hosting A Virtual Annual General Meeting

The currently rising demands for virtual interactions have increased the scope for online businesses and services while also providing an opportunity to utilise the technology that has been available for decades but mostly ignored. Besides that, the ongoing restrictions and increasing limitations on public gatherings have also made it compulsory for most in-person events to be shifted to digital platforms. Virtual Annual General Meetings is one of them.

Hosting the Annual General Meeting online is undoubtedly a challenging task, but many of us gradually got used to it. However, there are still some specific unsolved issues that are interfering with the virtual AGMs. So, in this blog, we are going over everything you need to understand about how to make your AGM successful.

What Is A Virtual Annual General Meeting aka AGM?

AGM is basically a formal get together of a company's interested shareholders that is conducted every year by businesses. These gatherings are mandatory as here the stakeholders get to discuss and vote on essential business matters, such as yearly business performance, objectives, and plans. Engaging in various debates, the members get to ask their questions during these sessions while the directors provide an overview of all critical company data.

A virtual AGM is just the online counterpart of such in-person shareholder meetings, where the main difference is its platform. Here, the company members perform all the necessary activities through an online platform from their remote locations.

Tips For Hosting A Successful Virtual AGM:

1.   Focusing On Key Participation:

Begin your preparations by considering everything from the standpoint of attendees. Also, determine what people like to see and which platform they prefer watching it on. The key must-haves for your virtual AGM platform are;

●     Stable connection or host server to ensure that the meeting runs well.

●     Live Q&A Sessions Support

●     Allow members to vote during the live session, just as they would have done in a physical meeting.

2.   Getting To Know Technology For A Smooth Sailing:

To ensure that your meeting runs efficiently, it’s important that you;

●     Hold a complete tech rehearsal with all the gadgets to be utilised during the session.

●     To counter-attack, the technical or internet problems always have a  'Plan B', for your visitors to enjoy a smooth event.

●     Give information about your 'Plan B' to attendees prior to the meeting.

Technical issues are an unpleasant part of life, but there should be a virtual event assistant who not just works closely with you and the attendees for better management of the event. This will give you a chance of focusing on the crucial elements of a virtual AGM rather than getting distracted. They will manage your event’s behind the scenes, allowing your organisation to focus on other elements of hosting a virtual AGM.

3.   Keeping It Private:

Some businesses are understandably concerned after the recent data leak at a well-known video conferencing company. These possible privacy violations are why it is critical to select a virtual event solutions provider headquartered in India with in-house security software that is monitored all the time. While choosing a remote platform for your virtual AGM, make sure it offers all the members high-level security and an end-to-end encrypted network connection.

4.   Seamless Administration Of Voting And Q&A:

While your company works at the forefront of the AGM, a service operator works from behind to ensure a smooth entry and exit of members. Most importantly, online voting, and Q&A, are too difficult to handle which makes it necessary for operators to deliver seamless facilitation. For instance, on hearing the pre-arranged cue from the hosts, the operator must be able to enable an online poll for the attendees to vote or open the floor for participants to ask questions at the right time.

Conclusion:

Given the novelty of this format, many businesses are naturally hesitant to host their first virtual AGM, and some are scared because their initial one didn’t go the way they planned it. Therefore, selecting a reliable virtual event platform service provider that dispels all your misunderstandings is important. It gives you confidence in the online format and shows its efficiency. The fact is, with proper guidance, appropriate tools and perfect planning, you can easily host a successful virtual Annual General Meeting.