In today’s competitive and ever-growing world of business, keeping staff engaged in your company is crucial. But staff engagement isn’t just about promotions and pay rises. Corporate events can play an important role in helping with engagement too.
From building up your team to recognising your employees’ achievements, incentives company Corporate Rewards explains how using corporate events to maintain staff engagement should be something to consider doing for your business.
Why employee engagement is so important
Employee engagement isn’t just about encouraging your staff to stay in your business and not leave to take on a job elsewhere. According to research from research-based management consulting company Gallup, companies with engaged employees have improved turnover, as well as profitability, productivity and absenteeism.
However, the company reported in 2016 that only 13% of the global workforce are, in fact, engaged. Reports from the UK management consultation company, Hay Group, also state that disengaged employees cost the UK workforce £340 billion a year. With the UK group reporting that poor staff motivation is also cutting productivity by close to half, it seems keeping staff engaged is a lot more important than some companies might think.
When it comes to keeping staff engaged, there are different ways corporate events can help.
Engagement with team building
Having a strong team is a big part of staff engagement. A strong team is about good leadership and collaboration, as well as trusting and respecting individuals across a group. Employees should feel engaged in their company team, from the way colleagues work together through to how they’re managed – research shows that 75% of people leave their job because of their boss.
Organising a corporate event with activities where staff and managers can work together as a team can allow employees to draw on and build up these skills. This can also help employees get more comfortable with managers and colleagues, alike, foster strong business relationships and, in turn, improve staff engagement.
Engaging team-building activities include an Escape room experience, paintballing, or a treasure hunt. Team sports, like sailing or whitewater rafting, can also be effective in pulling a team together, while creating a memorable, engaging experience for employees.
Engagement through building loyalty
Encouraging staff to stay loyal to your company is another key part of employee engagement. If a member of your staff is loyal to your company, they are more likely to be: engaged in their work; want to come to work each day; and stay with your company for the long-term. They should also be more engaged in your business’s values and goals, want to do more to help you achieve them, help encourage other staff to work harder, and help promote your company externally.
A big part of creating staff loyalty is making employees feel valued. If employees feel that you respect and value them, they are likely to do the same in return. Holding a corporate event that involves all employees, which marks a key aspect of your business’s development, is a good way to make staff feel they’re a valuable asset to your company. For instance, an event where staff, managers and directors celebrate a key milestone together, such as a company anniversary or marking the start of a new service or department.
Examples of events include a meal at a top restaurant, or a company trip to the theatre or a theme park. Key business values and future goals can be announced and discussed with staff during the event, so they feel involved in the business. The event, itself, can also create positive memories for your staff, which they forever link with your company, enhancing their loyalty further.
Engagement by recognising success
Another way to create staff engagement is by showing you recognise your employees’ efforts and achievements. Rewarding staff is a good way to show recognition. You could reward employees for their hard work on a project, their product sales, or their efforts over a particular business quarter.
Corporate events can act as an effective way to reward teams of staff. And the more exciting and special the event, the better the results can be in engaging your employees. This could include a corporate hospitality experience at the races, a night at a major music event, with behind the scenes access, or a trip see a London film premiere, including a red carpet experience and VIP seating.
A workforce who know their efforts will be recognised and rewarded, time and time again, with once-in a-lifetime-style events like this, are more likely to be happier and engaged employees. As a result, their mood in work is likely to be better, their efforts stronger, and their productivity higher. All this can help to improve your staff’s overall performance, while developing your business for the better.
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