Why corporate events are important for a company’s ROIs
The first word that springs to mind when talking about company ROI’s for events is engagement. It is clear by now that no matter how good a product may be or how well-known a brand is, without staff that are passionate about their role and care about company growth, achieving a positive return on investment will prove difficult.
Some employers are so engrossed in financial goals that they forget about the importance of creating a positive working environment in order to achieve those goals- one which rewards hard work, keeps staff informed with results and statistics and encourages them to want to do better and grow themselves within the business. Without this how can employees be expected to maximise productivity and feel enthusiastic about their projects? In fact, it has been proven online in multiple studies that there is a significant loss in profits for companies which have less engaged employees.
So why do we believe corporate events, whether that be award nights, teambuilding days, conferences or family fun days, have such an important to roll to play when it comes to ROI’s?
Corporate events are all about bringing people together and promoting a sense inclusion .Summarising the years’ work, highlighting achievements, thanking and rewarding staff for their contribution and informing them of what the company objectives are moving forward so that they feel valued as employees and that they are part of the bigger picture.
This is something we found at Oodle Car Finance’s corporate family fun day in July 2019, which we delivered in the countryside of Oxford. Their day was all about treating their staff to good food, great music, entertainment and fun activities, which was broken up with motivational speeches and acknowledgements. It was the perfect event for colleagues to talk in an environment that wasn’t their everyday office about things that are non-work related; getting to know each other better and bonding with Jean from accounts who sits a few desks down and usually only speaks to them to offer the occasional cup of tea.
We were so inspired by the sense of family within their team and how well the Director treated and appreciated his staff. Everybody there just seemed so happy (including our staff which were totally made to feel a part of their party), so it is no surprise that Oodle have continued to be successful ever since.
Keeping employees well informed with ROIs and statistics is just as important when it comes to engagement and making employees feel full included . When we delivered Lucozade Ribena Suntory’s SalesFest for the first time back in 2018, they had a demotivated sales team due to the rise in sugar tax. To lift their staff morale and create a sense that they were all “in it together”, they had a day of teambuilding games and workshops, business content, awards and partying putting them in a less serious and more uplifting environment to de-stress and win back some of that motivation.
LRS specifically mentioned that their first corporate festival with us massively contributed to their increased ROI’s in a time where they could have easily lost their drive.
Other events such as K-in-the-Park and RecFest, demonstrate the worth of client retention, networking and how that also contributes to an increase in ROI’s. Organising a day in the sunshine, with inspirational speakers, debates and activities encourages delegates to grow confidence in their chosen career and pick up new skills and ideas so that they can contribute in a more positive way in the workplace.
All in all, corporate events encourage a sense of a clean slate, giving staff the chance to let off some steam and return to the office with a fresh pair of eyes and a renewed motivation to keep flying the company flag! And let’s face it- a happy team, means happy customers!
Our 2020 schedule is quickly filling up. If you want to dare to be different with your teams this year, give us a call. 01329 446044
Tel: 01329 446044