The Eastside Rooms cost of living impact survey reveals that organizers have increased salaries and freelance/consultant fees to help teams adjust to the impact of the cost of living crisis. Specifically, 28 percent of associations/not-for-profits increased staff salaries, while another 9 percent increased freelance/consultant fees, and 25 percent of corporates increased staff salaries, while another 5 percent increased freelance/consultant fees.
The Eastside Rooms in England surveyed 125 event professionals from around the world in October 2023 to identify challenges and opportunities faced due to economic challenges. A key finding from the report was that 83 percent of organizers saw an increase in event costs last year. However, alongside the impact on the organizers, the survey also explored differences seen in attendee behavior.
In addition, the report showed that a quarter of organizers (24 percent of associations and 25 percent of corporates) are providing flexible working arrangements to meet the needs of their teams. Only 2.5 percent of corporates have seen the need to decrease freelance/consultant budgets, while making no changes to their staff compensation. Another 2.5 percent of associations have also decreased freelance/consultant budgets; however, 7.5 percent 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. Staff are the life blood of our industry, so it is a real positive that they are on the whole being looked after,” said Leanne Bladen, director of sales and marketing at The Eastside Rooms. “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.”
For more information, visit www.eastsiderooms.com.