What is a Hybrid AGM?
A Hybrid AGM is a crossover between a physical and virtual meeting, which allows stakeholders, members or attendees to opt between attending at the meeting’s physical location, or being involved online from the comfort of their own home, smartphone, tablet or office.
Annual meetings have traditionally been hosted in a physical location, to allow shareholders to directly engage with the Board, and ultimately hold them to account.
However, with the increasingly global diversity of the shareholder and membership base, legislation is slowly changing around the world, to allow for the possibility of remote attendees at a meeting, thereby creating a virtual element. This mix of in-room attendees and virtual attendees, are what constitutes a hybrid meeting.
Member based organisations, partnerships and charities are not restricted by existing legislation. At Lumi, we are working with a wide range of sectors and organizations that are already allowing for virtual attendees.
There are a number of factors that are affecting the rise of both hybrid and virtual meetings, although they differ from country to country. Here’s a couple of the major overarching factors for the rise in popularity:
Technology The majority of industries have seen dramatic changes to how they operate via technological advances or methods. In fact, the first virtual meeting was held in 2001 in the United States (Computershare, 2018), but hosting, or partly hosting annual meetings online has only come into the mainstream in the last 5 years or so.
Inclusivity Making your meeting available to everyone who wants to attend without the constraints of travel or cost, and helps boost the customer centricity of your organization.
Steve Longley, Head of Product Development explains what a Hybrid AGM is...