Why you should host your own corporate event
The benefits of hosting events!
For those who haven’t experienced the transformative effect of hosting a team event, the idea of spending business resources on events can seem like a waste of time and money. But not only are events a vital way to mark milestones, reinforce company values, and strengthen the working relationships of your team, they’re also an essential tool for both retaining and motivating your people.
This is why events aren’t a luxury, but a business necessity.
Why host an event?
Poor company culture has been cited as the most important reason why people decide to leave their job, and this staff turnover is costing companies time and money. As well as taking anywhere between 6-9 months to fully replace a team member, employers can expect to pay anywhere from 16% to a whopping 213% of their employee’s salary to cover hiring and training costs, depending on the seniority of the position.
People want to spend their time working for a company that they love with a culture that fits them. Events create a sense of belonging and valued contribution throughout your team, building that strong company culture to make your talent want to stay. When your people feel cared about, they care about you.
As a multi-award winning event agency with over 20 years of experience, the First Event Fam have seen first-hand the huge benefits that events can bring to a company. And it’s not just with our clients. From having hosted incentive and reward events for our own First Event team, we know just how powerful hosting an event for your people can be.
Different kinds of events you can host:
Networking events expose your business to new ideas, insights and opportunities, not just for your brand, but for your people. As well as a useful tool for generating new business, hosting a networking event encourages your people to take responsibility for growing their own networks, and become respected and authoritative individuals within their field, bringing value and leads to your business. Your networking event can be tailored to capture the interests of your target audience, such as potential customers, potential partners or collaborators.
Strategic meetings events are a great way to boost the motivation and engagement of your team. Together, create clear priorities and goals across your workforce, and empower your team to play an active role in the growth of the company. When your people feel like they have influence over the future and growth of the company they work for, they’ll work harder to ensure that these shared goals are reached.
Virtual & Hybrid Events
Virtual & hybrid events offer the ultimate solution to keeping team motivation and communication high, regardless of any geographical barriers. Whether your attendees tune into the event livestream, or log on to your custom built portal to watch on demand content, virtual and hybrid events extend the legacy of your event, and help you reach new audiences across the world. Not only are virtual and hybrid events the more sustainable option, the digital possibilities allow you to design a bespoke and immersive experience that truly reflects the interests and values of your team. If you’re looking for some inspiration for what kind of digital experience you want to create for your people, take a look at our top 15 virtual and hybrid team building events.
Incentive travel is an effective motivator used to promote positive behaviours amongst employees, customers, or even partners. Guests are inspired by the idea of being able to take part in a once in a lifetime trip to a fabulous destination with a bucket list itinerary. This inspiration, in turn, creates a stronger sense of value and belonging in the workplace, boosted productivity, increased sales, more meaningful professional workplace relationships and a lower staff turnover rate.