Company events can often be the first item chopped from the budget in an effort to save money. Some people don’t think company events are necessary and that they would be the least noticeable items to cut. Given the choice to cut the weekly catered lunch, new desk chairs, or a company event, most people believe the company event is the easiest budget item to trim. Need help creating your company event budget?
Company events are much more than just a chance for employees to gather. Whether you have an annual awards ceremony and dinner, a summer picnic, or a holiday party, it’s much more than just kicking back and letting your hair down. Company events help:
- Validate your employees
- Promote creativity
- Boost company morale
- Create a better, more focused team
APCO Insight and MMB surveyed 400 small business owners and found that that 96% said meetings yield a positive ROI. Focusing on company events really is an investment. Just like you invest in marketing and recruiting, you should also invest in company events to see numerous positive results.
Every company can benefit from having company events. It doesn’t matter if you’re a large organization or a small start-up or what industry you’re in. Gather your employees for a company event and see these four benefits:
Improve Company Culture
Company events are a great way to highlight the company’s core values and culture. Employees want to work for companies where they feel engaged and empowered. In fact, companies with engaged employees make 2.5 times more than their less-engaged counterparts. Engaged employees are a whopping 87% less likely to leave their companies. It’s definitely worth planning events to keep employees engaged and happy.
Establish Your Culture
Entpreneur.com defines company culture as “A blend of the values, beliefs, taboos, symbols, rituals, and myths all companies develop over time.” The culture is sculpted through the day-to-day activities and mindset of the company, but it can be solidified at company events.
What does your company stand for? What are its core values? Put those values into action with a company event. If you say your focus is on loyalty, honesty, dependability, or efficiency, show that to your employees. A corporate culture can be fun, creative, collaborative, supportive, and much more. Words on a poster or in a company motto don’t mean as much as actually showing them through a company event.
Well-planned company events can become part of what your company is known for and play a role in recruiting new employees. People want to work at a place that lives up to its mission statement and makes an effort to reward and validate its employees.
Company events and award ceremonies can be very effective in validating employees. You can give employees awards for their performance or for how they exemplify the culture and values. Employees receiving the awards will get the recognition they deserve. Plus, they will feel like they are making an impact for the company. These awards will make your employees feel valued and important. That will do wonders for productivity in your office.
If you’ve had a great quarter or year, celebrate it! Bring in your best clients and employees for a company celebration. Everyone loves to be acknowledged for their work. Celebrating success builds a company’s culture as one that realizes the effort employees put into making it happen. It allows employees to relax, have fun, and know they are valued.
Everyone wants to feel appreciated, and a company event is a great way to celebrate the successes of individual employees, teams, and the company.
Keep Employees Engaged
A Gallup study found that just 13% of employees are engaged at work. There’s a huge difference between engaged and unengaged employees. Unengaged employees show up just to get a paycheck and don’t put real effort into their jobs. Engaged employees are an active part of the company culture. They are excited to come to work and put in their best effort because they feel valued and know the role they play in the company’s success.
“Events actually are just a part of a larger strategy to help engage employees more in the workplace and make their jobs and the places where they work a more interesting place to be,” said Damon Guidry, Global Event Strategist at Adobe.
Company events help employees feel engaged because they are valued and can see the bigger picture. Instead of just being stuck in their cubicles, they can connect with the rest of the company. They can see the importance of their position and the time and energy that went into the event. Even something as small as a company lunch or picnic can lead to a major boost in engagement.
Company events are a great way to bring your team closer together. Team building events can break down walls and barriers in the workplace. Cohesive teams are more productive and creative. Plus, having a friend or strong team at work makes employees more excited to come to work and put their best effort into a project.
Connect Leadership and Employees
There’s often a gap in the workplace between leadership and employees. You can diminish this gap by providing everyone with a place outside of work to get to know each other. Team building activities help employees see their bosses as peers rather than unapproachable authorities. These relationships can work magic in the office.
Instead of being in a high-stress or formal work environment, company events allow employees to connect with their bosses on a human level. In fact, some employees look forward to company events because it’s the only time they can interact with their boss in a more casual environment.
Company events allow everyone to relax. There’s nothing like seeing the CEO with his kids at the company picnic or relax on the golf course for a company-wide outing. These situations show that leaders are normal and allow them to connect with employees. Instead of worrying about saying the right thing in front of their boss, employees can focus on having fun and seeing leaders in a new light. It goes both ways—leaders can also see employees and understand who they are outside of the office.