If you’re a member of an AGM condo, you’ve probably also noticed that your condo votes are sometimes held a day or two later than the advertised date. This is the case whenever there are over 50 eligible voters, which is the case for a majority of condo complexes. One way to solve this problem is to change the AGM date from the following year to the current year. This modification, called moving the meeting forward, can happen at the AGM. The votes would still be cast at the AGM, but all members would vote at the same time.
Virtual AGM
AGM stands for Annual General Meeting. An AGM gives your Board a chance to review the year that has passed and give board members and shareholders to ask questions. A week or so before the meeting, a Board should send out a mass email to shareholders to remind them. Every year, a condo management company signs up for their AGM package with CondoVoter. This online solution gives your Board the ability to post agendas, minutes, meeting notices, ballots, polls, and reports. It includes forum-style discussions, which give shareholders the ability to post questions and share ideas.
At CondoVoter, we celebrate the AGM. This annual event is when we come together to announce our financial details, share news about our community, and elect our Board of Directors. It’s also a chance to renew our community’s commitment to making CondoVoter a rich source of information and a place where our users feel comfortable sharing their opinion. Most AGM condo (or homeowner) associations require owners to vote in person at their annual meeting. For some associations, this is not an option. You may have a lot of reasons you can’t make it to the meeting. Perhaps you’re traveling for work or unable to take time off work. Maybe your employer doesn’t allow you to take your vacation during the busy season. Or perhaps you recently had surgery and cannot physically travel to the meeting.
Digital transformation is now a constant organizational challenge. In 2017, one-third of executives reported that digital transformation is critical to their business, with 50 percent identifying it as critical or very important. And 53 percent said that digital is impacting their organizations’ performance, compared to 45 percent in 2016.
Pros of Holding a Virtual AGM for CondoVoter in Canada
The coronavirus pandemic has impacted everyone differently, and not everyone has been affected the same. We’ve all gotten used to frequent lockdowns, and we’ve seen how our community has changed. With everyone working from home, we’ve started spending more time at home. With more time spent at home, there’s less time away from home. As a result, we’ve made some improvements to Virtual AGM CondoVoter, which we think will help you stay connected to condo news and meetings. We’ve all been there. Meeting time, and you don’t have your agenda or proxy. You are just stuck trying to remember everything. And thanks to technology, you don’t have to worry anymore.
Virtual AGM CondoVoter has been a valuable resource for condo owners during the pandemic. Owners currently on lockdown can log into the CondoVoter platform and submit their proxies and votes with the online interface. Many absentee owners who have requested their proxies can also submit these. At the same time, those proxies can be voted by proxy, leaving votes to be submitted at a later date.
Virtual AGM software removes the worry and hassle of preparing and printing off an AGM packet and now has a new feature that automatically sends meeting materials to condo managers before every meeting. Using CondoVoter, condo owners can submit their proxy votes online, and more than 85 per cent of all condo owners already do so. With CondoVoter, your condo board can host its AGM online, saving condo owners time and money.
Cons of Holding a Virtual AGM in Canada
There are some drawbacks to holding a virtual AGM. Convincing owners that attending a meeting online is as convenient or more convenient than an in-person meeting is a big hurdle. Most condo owners are still used to attending in-person meetings, and many do not trust online security. There are also concerns regarding attendance at an AGM since owners may be busy with work, family, or traveling.
Some condo corporations have large memberships, with a portion electing to participate, and others smaller, with a majority of members not participating. In circumstances where members are located at a distance from the AGM location, holding a virtual AGM can be logistically problematic. Additionally, some shareholders are uncomfortable participating remotely, and in the absence of an in-person quorum, the condo corporation may not be able to conduct its AGM.
Preparation for Virtual AGM
Although virtual AGMs are relatively new, they have been developed and adopted in countries such as the United Kingdom, Liberia, Romania, and the United States. In the USA, the shareholders of a public company must hold a physical meeting, complying with the requirements of the Securities Exchange Act of 1934, to approve resolutions and submit proposals. However, the shareholders of a private company do not have to hold an in-person meeting; instead, they may do so through conference calls, mail, or email.
The virtual annual meeting is a presentation tool used by companies or associations to communicate with their members. Other names for the virtual annual meeting are presentation software, meeting software, or online meeting software. The virtual annual meeting is quickly becoming the preferred meeting method for member organizations. Members can view a virtual annual meeting, submit questions, join live polls, and chat live with other attendees.
The Future of Virtual Meetings Virtual AGM CondoVoter
The virtual meeting is the future, but how to get there? The AGM is the past. The Virtual AGM could bridge the gap between the two. The AGM or Annual General Meeting is a meeting or series of meetings held by shareholders of a company to allow shareholders to review the company’s financial statements, discuss the company’s activities, elect directors, receive reports, make decisions on resolutions, and elect auditors. Being on a virtual conference call may seem a little strange at first, but there are many advantages to a conference call. A virtual call can often work less like a phone call and more like a focus group. This allows a group to share ideas, thoughts, and opinions in an open format without having to worry that their opinions will fall on deaf ears.
Advance Voting and eProxy Voting
Advance voting and eProxy voting are both methods used to cast your ballot for a federal election. While advance voting is only for federal elections, eProxy voting can be used for federal, provincial, or municipal elections. Advance voting allows Canadians to vote before election day, but eProxy voting is for Canadians who can’t make it to the polling station.
Conclusion
The Virtual AGM CondoVoterbe is an electronic voting application that allows you to use your computer or mobile device, such as a tablet, to log on to your condo board’s meetings. Although this relatively new technology is still uncommon, more boards are adopting it for the many benefits it provides.
