Lack of ideas or people to help with execution.
These are all common reasons why your business may not hold an annual company-wide event. However, according to the Corporate Leadership Council, statistics around retaining employees show that employers who engage their employees are 87% more likely to retain them.
Here are three reasons that support hosting a company event:
Building Connections Outside of the Office
Most of your employees will communicate with each other only during business hours, in the office, about work-related items. Giving them an opportunity to connect outside of their cubicles can help build relationships that continues back at the office.
Bring Employees into the Circle
Finding out about business plans through a memo (or worse, in a press release or the news) can make employees feel left-out of important company initiatives. By holding an event to announce, explain and build excitement around what your leadership team is planning for the organization, will make employees feel more of a part of the effort and are more likely to support it.
Secondary Promotional Value
Photos and excerpts from talks given can be utilized in both external and internal materials to give the company and its messaging life beyond the event. Press releases, social media posts, newsletter and follow-up emails from leadership are all going to be seen by a larger audience, creating further interest in what you do next time.
Other costs (and savings) to consider when planning an event:
Employee Recruitment & Replacement Costs
A great onboarding process is the first step to a positive, transparent employer-employee relationship, and continuing to share your company’s journey with your employees through regular in-person communications is also important. A well-planned company event can help continue to engage your employees in the company culture and goals.
Saving on the Event
Holding a meaningful company event may have a price tag associated with it, but hiring an event professional can also help control costs and keep your budget on-track. “One of the most important things a Corporate Event Planner brings to the table is our industry connections and ability to negotiate with vendors on price. I know what venues offer flexible pricing AND great amenities so I can help clients get the best packages.” says Kristin Healy, Owner and Creative Director of Swank Events. “Professional Event Planners also coordinate all of the logistics and book any necessary vendors, in addition to making sure everything goes smoothly so your staff is able to focus on their day to day responsibilities.”
Remember to contact Swank Events for your company’s next meeting, party or outing to make it a great and unique experience for your employees!