Event Management – Booming Career to Watch out for!

Most of us have attended at least one event till date. By event, we mean a grand wedding, feast or even a school/ college anniversary celebration.

Further, most of us retain happy memories of the event for one or more reasons.

Yet, most of us are not grateful to those invisible souls who exert extra efforts to make an event memorable.

Nay, a majority of us will not even think about those workers who silently go on doing their job while we enjoy an event.

Therefore, we begin exploring event management careers by expressing our gratitude to those millions of people worldwide who make occasions memorable.

event management

Event Management – Defining and Understanding the Profession

Event management is perhaps the oldest unorganized profession of the world. Events are not peculiar to modern times. Indeed, they exist at all points of history.

Probably weddings are the oldest form of event that had to be managed. Family members and friends usually play roles of event organizers, event planners and helpers, at weddings.

Celebrations by emperors and kings of yesteryear are also events. However, they were made memorable by royal servants by striving hard to please the ruler and invitees.

In modern times, this field assumes a new dimension.  Hence, we have event management companies equipped with trained event organizers and planners that offer event management services.

Wikipedia perhaps offers the best definition of event management:

The application of project management to the creation and development of large scale events such as festivals, conferences, ceremonies, formal parties, concerts, or conventions.

It involves studying the brand, identifying the target audience, devising the event concept, planning the logistics, and coordinating the technical aspects before actually launching the event.”

What is Activations Management?

Activations management is part of event management. However, it is on a smaller, more widespread scale. Event management involves handling one or more large venues with huge visitor footfalls.

On the other hand, activations are small events. For example, product launches at stores, malls, public places.

Event Management Careers – Favorable Facts

First and foremost, let us examine reasons why you should eye career in this field. Firstly, India’s events and activations industry is witnessing a great boom.

It has grown from Rs.28 billion industry in financial year 2011-2012 to Rs.42.5 billion during fiscal 2013-14. This indicates a Compounded Annual Growth Rate (CAGR) of over 15 percent per annum.

  • Estimates indicate the industry to have further grown to about Rs.57.7 billion during financial year 2016-17 with CAGR of 20 percent.
  • Industry captains predict, event and activations management will cross the Rs.75 billion mark by the year 2020. These figures come from Ernst and Young, one of the topmost financial solution companies of the world.
  • India’s event management industry will be worth US$ 10 billion within next 10 years, according to industry experts.
  • Further, the average number of employees working with event management companies is also on the rise. In fiscal 2011-2012, an event management company had an average 55 employees. By 2014-15, this rose to 84 employees. Meanwhile, future predictions say, each events management company will have about 100 or more employees.
  • Event management companies were responsible for successfully organizing 62 percent of events held in India till March 30, 2016.
  • Employee payrolls of activations and event management companies have also shown increase of five percent annually, a study by Ernst and Young explicitly says.
  • Therefore, these are clear indicators for launching your event management career, if you possess the necessary skills.
  • Currently, there is a shortfall of about 17 percent in number of qualified and skilled workers at all levels in the event and activations management.
  • Globally, the number of events that require management will rise by about 24 percent. Meaning, you have a scope for working abroad too.

Event Management Growing Areas

India is indeed a peculiar country. While some states boast infrastructure that parallels developed nations, other severely lag behind.

However, this will not hinder growth of event management companies in India.

There are several reasons for this rapid growth in Event Management Industry. These include technology, investment and developing infrastructure of India.

Accordingly, let us study these growth drivers in detail.

Event, Activations Management and Technology

Nowadays, live telecasts of everything from an international cricket match to local concerts are possible. Further, it is not necessary to telecast these events via satellite to TV.

Instead, people prefer watching events on their mobile phone handsets.

Virtual reality headsets are available at very affordable rates of Rs. 300 and above. Inexpensive smart phones are flooding the market daily.

In addition, Fourth Generation (4G) and Fifth Generation (5G) mobile technology is spreading rapidly across India.

Moreover, affordable mobile service is bringing national and international events closer to people, regardless of their physical location.

Activation and Event Management Companies are eyeing blockchain technology to broadcast live events on pay-per-view basis to subscribers.

Actually, this involves you paying for watching an event on smart phone or TV.

Blockchain allows encryption of a program. In turn, this ensures nobody can watch a live event free. Hence, all paying subscribers will get high quality reception on their smart phone or TV.

Blockchain-based broadcasts can help rid an event of intermediaries who work on commissions. Instead, artists and fans will be able to link directly.

Consequently, the cost of watching a live event will be lower.

Return on Investment: the Sword of Damocles

Currently, the event management industry in India has no assurances over Return of Investment (ROI). This occurs primarily because advertisers- the main sources of revenue- are reluctant to spend on event sponsorship.

Industry experts, estimate the advertising spend in India totals to whopping Rs. 74 billion every year. Sadly, only a fraction of this is currently available to events.

Presumably, since events do not assure the desirable ROI to advertisers.

Understandably, event management companies in India are working closely with major advertisers to get a larger slice of the advertising pie.

Newer, innovative forms of delivering events to viewers will help event management companies to bag higher revenues.

India’s Infrastructure, Growth and Development

Nowadays, increasing number of Indians and foreigners is taking active interest in the country’s culture and heritage. The International Yoga Day celebrated on June 21 is a clear pointer of this fact.

Organizers of major events are aware of the huge interest in domestically and in foreign countries. Understandably, they are eager to capitalize on this.

India’s modern infrastructure has capabilities to support major events. Further, it can also accommodate mass tourism at most popular locations.

Thus, organizing an event well will attract larger number of people, industry experts aver.

These three factors will serve as main growth drivers for India’s activations and event management industry.

Tips and Tweaks to enter Event Management

Meanwhile, you can enter the Event Management industry in more than one way.

University degrees

Nowadays, several renowned, government owned colleges and universities offer event management courses. Therefore, the easiest way to enter the event management industry is by obtaining a good degree from any of these reputed institutes.

These Event Management Courses include practical sessions that will help you in your professional life while working as an Event Planner or Event Manager.

Casual work

Generally, event management companies find themselves short of staff before hosting a major event. Hence, they look for part-time and temporary staff. Undoubtedly, these part time event management jobs offer you a great opportunity to learn one or more skills.

Further, you also earn extra income. These kinds of event management jobs requires basic education hence a great option for those who want to taste lifestyle of Event Management Industry.

Volunteering

For people with zero knowledge of this field, volunteering provides a great start. You can offer services as volunteer for any major event being held at location near you.

Volunteers are led by experienced event managers. This provides a great opportunity to learn basics of the trade.

While working as an event coordinator or event planner you get to learn a lot about functionality of that event management company.

Many event management companies are looking for such volunteers every now and then for their upcoming events.

Entrepreneurship

Understandably, this is the best way to gatecrash into event and activations management . However, the venture will be fairly expensive.

You will need to invest heavily on hiring qualified professionals to work as event organizers, event planners or event coordinators for your event management company.

In addition, extensive marketing of your company is vital to bag an event management contract.

Avenues for Career

Event management is a rather complex industry. Therefore, you can select the type of job you will enjoy. Avenues generally open in this field include:

  • Event planning
  • Event coordination
  • Event logistics management
  • Press and media management
  • Community outreach
  • Marketing and communications
  • Finance and budget management
  • Risk management
  • Public relations and liaison
  • IT system management for live streaming
  • Safety and security management
  • Brand management

Qualities and skills to work in event management companies

  • Excellent interpersonal skills
  • Excellent organizational skills
  • Ability to multitask
  • Pleasing overall personality
  • Willingness to travel extensively
  • Meticulous eye for detail
  • High level of creativity
  • Capabilities to troubleshoot
  • Prolonged attention span
  • Dexterity to work long hours

Event Management Career – Advantages

Finally, making a career in this field is truly rewarding. As we mentioned earlier, you can expect good salaries in this profession.

In addition, while working in event management companies you also get opportunities to meet eminent personalities such as artists, cine stars, business people, political leaders and top managers from various small and giant companies.

Generally, a career in this giant industry will also take you to exotic places in India and abroad. Working in event management industry is glamorous.

It will upgrade your social status.

Events are fun- before, during and after. Definitely, you will receive numerous freebies including meals, fashion wear and stay at star rated hotels worldwide.

2 Comments

  1. ELDRED PINTO on October 24, 2017 at 12:24 pm

    As I have worked in an MNC , we had many parties & celebrations where event management people were given the job to organize this ,every thing depended on how much the company was paying the event management ,basis that the event would be done ,sometimes big way sometimes not so big ,but lots of fun ,if given a chance i would like to work for an event management co.

  2. Eftikar hussain on October 23, 2017 at 2:21 pm

    job open karne ka liye kiya karna parega

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