Over the last few weeks, I’ve probably spoken to around 40 senior leaders across the events industry.
Some have been agency owners, some managing directors, some commercial leaders and some operational leaders. Some have been hiring, some have been trying to hire and some have been wondering whether now is the right time to hire at all.
What’s interesting is that although every conversation has been different, a few common themes keep appearing.
The biggest is uncertainty.
Not because business is necessarily bad. In fact, many of the businesses I’m speaking to have had perfectly good years on paper. Revenue has been solid, projects have been delivered and clients are still spending. Yet beneath the headline numbers there seems to be a growing sense that things are harder than they should be.
Part of that appears to be linked to what’s happening in the Middle East. Several leaders have spoken about projects being delayed, postponed or cancelled altogether, creating a backlog that is affecting confidence and planning. In some cases, businesses that looked healthy from the outside have found themselves under real pressure because a small number of significant projects haven’t materialised in the way they expected.
The challenge is that there doesn’t seem to be a clear answer either way.
If the market was flying, businesses would invest with confidence. If it was deteriorating rapidly, difficult decisions would be made and organisations would adapt accordingly. Instead, many leaders seem to be operating in a state of limbo, waiting for clarity that never quite arrives.
That uncertainty is having a direct impact on hiring.
One of the most surprising things I’ve noticed is that a lack of budget isn’t usually the issue. Most of the businesses I’ve spoken to know where they need additional resource. They know which teams are stretched. They know which skills are missing and, in many cases, they already have approval for the role.
What they don’t have is the confidence to press go.
As a result, hiring decisions are taking much longer than they did even 12 months ago. Processes that would once have involved a couple of conversations and a decision now seem to require multiple stakeholders, several rounds of discussion and layers of approval. Decisions that were once made by an individual increasingly feel like they’re being made by committee.
That’s understandable. Nobody wants to make the wrong call in an uncertain market.
The consequence, however, is that recruitment isn’t stopping. It’s simply slowing down.
Candidates are noticing it. Recruiters are noticing it. Most importantly, businesses are feeling it as key vacancies remain open for longer and existing teams continue to carry additional pressure.
The third topic that has come up repeatedly is the feeling that our industry continues to be undervalued.
The recent developments around Business of Events have generated a lot of discussion and concern. Whatever your political views, there is a growing frustration that an industry worth around £90 billion still seems to struggle for the recognition it deserves.
Events drive tourism, hospitality, trade, investment and employment. They bring people together, generate economic activity and showcase the UK on a global stage. Yet many leaders I’ve spoken to still feel they spend too much time explaining why the industry matters rather than discussing how it can grow.
It’s particularly frustrating because there are some incredibly talented people working hard to raise the profile of the sector and create meaningful change.
Despite all of this, I wouldn’t describe the mood as negative.
If anything, I would describe it as restless.
There is a huge amount of pent-up demand sitting beneath the surface. Growth plans are being discussed. Roles have been identified. Teams know where they need support. Business leaders know where the opportunities are.
They’re just waiting for the confidence to move.
At the moment, the market feels less like a slowdown and more like a dam holding back water. Nobody knows exactly when it will break, but when it does, the flow could be significant.
My suspicion is that when confidence returns, hiring won’t gradually build over six or nine months. It will happen far more quickly than that. Organisations that have spent this quieter period thinking about talent, succession planning and future hiring requirements will be ready to act.
Those that wait until the moment arrives may find themselves competing with everyone else at exactly the same time.
I’ve said for years that the best hiring decisions are made earlier, not faster.
That feels particularly relevant right now.
Because when the market starts moving again, and I believe it will, preparation is likely to be the difference between securing great people and missing out on them.
The question isn’t whether demand will return.
The question is whether you’ll be ready when it does.
