5 Quick Steps to Host a Successful Virtual AGM in 2022 [+Tips]
The Year 2021 laid down the definition of hybrid events where most of the organizations decided to go for a Virtual AGM – compared to a traditional AGM. This new form of virtual meeting evolved within the B2B structure of communication giving out global possibilities.
So while you are exploring the virtual dynamics of communication & decided to host your first virtual AGM, this blog is the must-read mini guide to help to get started with the mechanics of any successful AGM.
Have a look!
What is Virtual AGM?
In simple words, a Virtual AGM is a yearly gathering of a company’s interested shareholders and directors to discuss the organization’s annual report (performance & strategy), held online.
Most commonly, the shareholders share their comments & express their concerns about the yearly update virtually through the Digital Voting System (DGS).
Benefits of Virtual AGM or Hybrid AGM:
- Gives shareholders global access to attend the AGM & vote their concerns, regardless of geography while saving the efforts, time, and energy spent on traveling.
- Advanced Technology with impromptu Q/A to assist the shareholders to hold the board to account.
- No trails of paperwork are required, full virtual audit trails (Transparent results).
Giving the Green Lights to Virtual AGMs*
The number of AGMs shifting from physical or in-person meetings to virtual has increased from nearly zero to 7.7% among the Russell 3000 (the largest US-traded stocks) in October 2019.
However post-covid-19, it has further accelerated the trend observed by the CGBR report on NIFTY 100 companies in FY21 as “86% of the Directors & Shareholders had 100% attendance in Virtual AGM 2022”. Indeed, it has forced many organizations to adapt to the virtual traction or identify any alternative arrangements for their yearly gatherings.
How to organize a successful Virtual AGM?
- Select a suitable Virtual Platform:
The main purpose of any Virtual AGM is to create a discussion around the performed actions & reports of the company from the previous year to the shareholders & investors.
But while conducting it virtually, just about anything can take the entire flow of discussion in a different direction.
So to keep minimal error possibilities & stack up preparatory measures, it’s best to find a platform that supports your expectations.
Virtual AGM Platform Checklist:
The cost of a Virtual AGM platform usually depends upon the number of features (you want) and the capacity of the meeting. So make sure you analyze needed features or have a quick consultation with the vendor before investing in any platform.
What works best?
- Tailored Virtual Packages (Pay for what you need, ONLY!)
- 24/7 Dedicated Support. (Be it any situation, there’s support)
Easily available tech support is a must-thing during any virtual event. The probability of impromptu resolutions keeps the flow of your AGM. Furthermore, it reduces the time loss caused by fixing any issues.
Engage your attendees to further boost their participation by enabling access via several platforms and other devices (Mobile devices & Web-based solutions) while keeping all levels of technical literacy of shareholders.
- Content Management
Ensuring that relevant content (Downloadable PPTs, media, and other documents) is shared with the shareholders during events is a crucial part of decision-making.
- Live Q/A & Live Voting Polls
An intuitive Q/A along with a live voting feature is crucial for making decisions while facilitating your shareholders. It also provides the participants with adequate time to re-analyze their queries, come up with a solution, or even review their answers – before, during, and after the event.
- Assign your Admin
The Chairperson, company secretaries, Administrators, and the panelists (board of directors) have the access to the Admin Panel.
Manage the period before & during the event using the admin panel to create and assign roles in the platform, control voting criteria, and manage Q/A sessions.
- Create an Attendees list (Registrations)
Have a whiteboard session to discuss the following processes before the meeting:
- Access & process the registrations list after the registration link is closed
- Modification attendees or Reopen the records
- Verify attendees and share the important info (Name, Identification no, No of shares)
- Authenticate Proxies
- Generate Voting Access
- Look for Secure Connection
Employ robust security measures to prevent any unauthorized 3rd parties from entering the meeting. And back it up with regular testing to assess the vulnerabilities.
The Must-Have Virtual AGM Security Features:
- Two-factor authentication
- Secured Cloud Storage
- Prevention Tools
- File an AGM Notice
To file an AGM, you have to write a notice that must be circulated between the shareholders 21 days before the AGM meeting. The notice includes the AGM’s details (Time, Date, Proxies, Resolutions, Annual Reports, Financial Statements, and other documents as such)
Allow a certain time for shareholders to schedule their time to appoint their proxies and review the resolutions.
#Tips to Host a Successful Virtual AGM:
- Set a Cue for your Shareholders (Inform them!)
- Leverage Suitable Technology (Brainstorm features you need.)
- Prepare an Event Script.
- Rehearse it like anything.
- Employ a Pro-Production Team
- Have a 24/7 Tech Support
Virtual AGM can be as confusing online as simple as physical events because it’s all about the right suit of the technology you use.
You have a Global Communicating Tool and if you’re still stuck in handling technical glitches – it’s high time to re-think your strategies.
So, allow your shareholders to absorb your annual efforts with a seamless flow of virtual communication using us as your behind-the-screen experts.