WHY CORPORATE EVENTS ARE VERY IMPORTANT FOR YOUR ORGANIZATION
Corporate events have become a method to foster a feeling cohesiveness. It is also a great way to meet people from the industry and grow business. In fact, corporate events are the best place to collaborate with peer companies towards something big.
A small company might not be able to organize a corporate event because of obvious reasons. Big companies make it a point to hold a corporate event where the industry players come and meet each other. A corporate event doesn’t necessarily means that other companies will also mark their presence. It can be organized by a company to allow the workers and departments meet each other in an informal atmosphere outside of the office premises.
Conference halls and meeting rooms are the perfect venue for organizing a corporate event. Hyderabad has become an economic epicenter in India. A large majority of big firms are situated in Hyderabad. As a result, many venues for corporate events have been established in Hyderabad. The venue for holding the event must be spacious and it must not feel crowded at any point during the event. Companies also rent banquet halls in Hyderabad. Food is an important part of these events and hence a banquet hall seems a right choice.
Many of you must be thinking – why spend money on a corporate event when the same can be saved for cash crunches and hard times? A corporate event is not just fun and frolic, it is something pretty big than that. Big firms understand this and they make it a point to organize a corporate event every so often.
1. EMPLOYEE RETENTION AND TURNOVER INCREASE: Employees feel motivated to work when they get promotion or a salary hike. But employees feel happy when their work is appreciated and they are valued on a bigger stage in front of fellow employees. It has been noticed that companies which organize business meetings were 3 times more productive than those who didn’t. Also, corporate events help with employee retention as they make the employees feel special, happy, and an integral part of the organization.
2. TEAM WORK: A watch has many intricate pieces which work in conjunction with each other. If any piece starts malfunctioning, the watch will stop working or it will not show the correct time. Similarly, a company has many departments which work independently but their goal is same. If something is wrong with one department, it might have severe repercussions for the whole company. Corporate events are a great source of motivation. They foster team spirit and cohesiveness in the employees.
3. BUILD RELATIONSHIPS: Fights and arguments take place in offices all the time. You might not get a chance to explain your case in the normal office timings. You may find it awkward to resolve an old feud during breaks. Corporate events are the place where you might as well resolve old feuds and make peace. Corporate events act as opportunities for employees to relax and build relationships with colleagues. Even the smallest event can have a huge impact on the morale of the employees.
4. BRAINSTORMING: Believe it or not, a brainstorming session outside of the formal setting is way more productive. In the formal setting, an employee feels pressure which makes it difficult for them to think through. In an informal setting, the employee-manager relationship is rested and both the parties listen to each other with an open mind. An open mind is a progressive mind.
5. A STAGE TO CELEBRATE SUCCESS: There is no better place than a corporate event to celebrate success. The company must take time out to address the success and goals it has accomplished during a particular space of time. Discussing this helps to boost the morale of the employees. The main idea here is to acknowledge the milestones the company has achieved.
These reasons are more than enough to motivate a company to organize a corporate event. Business environment today asks for corporate events. It is not an expense, rather it is a step to build company and employee morale. Select a nice and cozy venue to improve the effectiveness of the corporate event.