Having a corporate event may not necessarily be the type of way you feel like you’d want to spend a regular workday. After all, your mind can only get too cluttered with all of the various deadlines you need to keep in check as well as all of the hours of meetings you’re required to attend. But in truth, these sort of events actually provide quite a number of benefits to the company. These benefits stretch out not only from the the internal workings of the company, but also towards the external relationships and partnerships. It could actually be a fairly productive way to spend the day.
It could generate revenue.
At first, a corporate event may seem like an unnecessary expense. It may not be easy to see how putting together some sort of sports tournament or general get-together could possibly be a way to earn a lot of money. After all, you must remember that there are different types of corporate events and therefore different ways of going about it all. In strategizing everything thoroughly and well, you might just be able to play your cards right. There are so many possible products to sell at an event. You could give out special VIP tickets, sponsorships, and even merchandise created specially for the event. You could even hold a product launch to attract more customers. It’s overall too great an opportunity to pass up without considering what you can do with it.
It could help in team-building.
Cooperation and collaboration are some of the most important aspects when it comes to working with other people as a single, cohesive unit. It can make or break any project that needs to be done since group dynamics have a strong effect on the output. In order to somehow ensure better performance, team-building is a must. You could opt to do this in whatever seems most feasible and fitting to the team—whether it’s a weeklong camping trip or an hour and a half inside an escape room. Whatever activity you choose, it would potentially aid in building trust among employees, which can then help each one communicate more comfortably and effectively. It’s important to note that having open and honest lines of communication can lead to a more efficient and harmonious overall team dynamic.
It could define your company culture.
In relation to building a cooperative and amicable internal environment, holding regular corporate events can define any traditions or trends specific to your company that would ultimately define its culture. You can look at these events as building blocks of sorts that can be used to make up the overall atmosphere that you want your employees to experience. Some companies hold small weekly events, such as Motivational Mondays, which those working can look forward to. It breaks the mundane aspect of a repetitive, regular office week. This can also boost their morale and mood, making them more inclined to do well in their performance. Having a positive atmosphere can also become something that the company is known for—which could be great in getting more people to apply for a job there.
It can aid in gathering consumer insights.
Corporate events are not only for the internals of the company. They can also help in collecting data from customers—and of course, the potential customers—who happen to attend the event. Handing out mini surveys to be answered in exchange for a freebie is definitely not unheard of. Moreover, simply observing how the consumers act during the event itself can still allow you to gather insights. You could see, for example, which booths during the event are most visited or which product being endorsed do they seem the most interested in. Of course, it’s important to always assure the customers that their privacy won’t be compromised in any way, and that they can trust you with the information that they give.
It can foster relationships.
These events bring about one important aspect which any business can benefit from, and that’s being connected. This can be in the internal perspective, in which fellow employees can get to know each other more. There may not exactly be enough time to spend with each other during a hectic work day. But these corporate events allow them to get to know each other beyond the four walls of the office, thus helping in forming a more positive working relationship and environment. As for the external perspective, events are a great way to connect with customers. You essentially get to meet face-to-face the many people who support your product. It’s another opportunity for communication and possible feedback to improve what the company already has.
It can unleash creativity.
Since events would completely different from the normal workday week, it could help employees maximize their own creativity. This can be especially seen through the planning stage as well as the coming up of gimmicks and activities to do. Employees can also exercise their creative skills when it comes to problem solving during the actual day of the event in case there are any mishaps or unexpected issues that come about. It ultimately allows people to use their minds in different ways.
About The Author: Bash Sarmiento
Bash Sarmiento is a writer and an educator from Manila. He writes laconic pieces in the education, lifestyle, and business realms. His academic background and extensive experience in teaching, textbook evaluation, business management, and traveling are translated into his works.
Bash Sarmiento | Author