Friday, May 22, 2009

The ROI of Flex-Time - 'NOT'

http://www.incentivemag.com/msg/content_display/incentive/news/e3i07c80a70350aca7252bf788d7822f517



I enjoyed reading the article on Flex-Time in Incentive Magazine. It is easy to concur with the likely positive outcomes of Flex-Time applications.



I am deeply bothered by the continued misapplication of the term ROI. This is a financial analysis term of specific form and application. It's use for this article is inaccurate at best, and discredits the arguments in the article to the nth degree.

ROI has become a term sloppy applied to justifications for incentives and meetings. I assume it is used to imply a thoughtful financial consideration of an expense. It has just the opposite effect in the finance office!

In fact, if ROI is applied correctly, the greatest ROI yield of a meeting or incentive is NOT to have them!

My recommendation is to stop using the term incorrectly, and focus on the strategic advantages of expending money and for meetings and incentives. Regarding Flex-Time as an incentive, the strategic advantages are very well outlined in this article!

Friday, May 8, 2009

Who are the leaders in the meeting and travel world?

Now is the time for Leadership! Leadership is a word thrown around easily. The fact is leadership is tough. Leadership is being the first to move into an unknown area, doing something never done before, and taking a chance because all the data shows it's the right thing to do. Leadership is taking a solid step forward in a sea of conflicting opinions.

Government is suppose to do the things private enterprise can't or shouldn't, and national government is suppose to do the things state government can't or shouldn't, and so on down the line.

Alexander Hamilton realized the best way to bond the states was by assuming state debts as part of the U.S. Congress. Abraham Lincoln realized that expenditures for growth, even during an expensive civil war, with Pacific Railway Act of 1862 to aid construction of the railroad, telegraph and postal routes from Missouri to the Pacific was the right thing to do. FDR understood the necessity for governments role, even after a misstep with the Smoot-Hawley Tariff Act, with his New Deal during the depression, as does President Obama with his stimulus package.

In the meeting and travel world, CVB's (City Convention and Visitor Bureaus) should be proactive right now. They should be investing in their marketing, sales, and operations. They should be using their inventory to bring in new business at their expense!

So why aren't they? Because they are caught in a political squeeze between spending money to support their members during a time when their main source of funding (hotel revenues) is dramatically reduced. This means standing up in front of city council and demanding to run an aggressive costly campaign that could (or will) put them in the red. This means putting their very political job on the line because it's the right thing to do.

And why should they do this? Because for a city, this economy isn't just affecting 2009, it's affecting 2010 and 2011 even more. If they play it safe, they will lose millions of dollars for their cities, cost hundreds of jobs, and put private enterprise further behind.

Which CVB leaders are willing to make the right call and make the investments necessary for their cities? Who knows?

For most, it's why even try, because city council, who are interested in their positions as well, will just reject it.

The one good thing about this is - the leaders will identify themselves. In times of crisis, leaders ask for the unreasonable and find a way to get it.

Wednesday, May 6, 2009

Meetings and Technology

Meetings South Magazine May 2009: Necessity is the Mother of Invention

Rodman Marymor wrote the article. A quick read on technology and the meeting industry and the move from inhouse to online systems. He hits the nail on the head.

There will be more connected resources utilized as the technology advances and cloud computing will allow smaller organizations to compete with projects that have typically been reserved for the big guns.

All the best,

Jeffrey