For some organizations, work events can appear to be an unnecessary expense, best reserved for an annual holiday party and nothing else. However, investing in the development of a fun and social company culture can have major benefits for an organization by fostering improved Employee engagement.
Engaged employees are four times more likely to stay with their current organization than those who are not engaged.
They are also more productive and therefore more likely to help increase profits: according to a study by the Workplace Research Foundation, highly engaged employees are often up to 40% more productive than those who are not and investing just 10% more into Employee Engagement can result in an increase in profits by more than $2,000 per employee.
Events can range in size and complexity based on a company’s budget or workforce size. What matters most isn’t that you’re spending a lot of money or coming up with something out of the ordinary – it’s just that everyone has a chance to relax, celebrate recent successes, and spend time together.
Let’s Explore Some of the Benefits of Work Social Events
As mentioned, companies that offer work Social Events help develop lasting relationships between employees and increase overall motivation and happiness within the workplace. Let’s take a deeper dive into some specific reasons why all businesses should be organizing and implementing work social events.
Team social events provide employees with an opportunity to let off some steam and relax, whether it be through a simple pizza party or catered lunch or even through something a bit more physically challenging and cathartic, like axe throwing (which the Mentor Works team did – pictured). A chance to go offsite or even just to change up the routine in the office can provide employees with a chance to recharge.
Events can also serve as a way for organizations to thank their employees, ensuring everyone feels appreciated. A well-planned event – no matter the scale – can work to reduce stress and remind everyone of their value within the company.
Social events are key to fostering the development of relationships within an organization. Within many companies, departments can be siloed, resulting in groups of people who may be close with those around them but not necessarily those in other roles.
Workplace events can provide an opportunity to break down the barriers between departments – and between employees and management – to place everyone on a more equal footing.
This allows everyone to connect on a personal level, which contributes to higher job satisfaction for team members, increased engagement, and professional benefits as people feel more comfortable communicating and collaborating with employees from other departments.
Company culture is key to both attracting new hires and retaining existing staff. Culture is viewed by many people as a make-or-break factor to determining their interest level or long-term happiness within an organization. By holding frequent work social events, an organization is able to prove its commitment to a culture based in work-life balance and interpersonal relationships, in turn increasing employee engagement.
Establishing your organization as a fun place to work – whether that be through in-office game nights or outdoor events – will especially help to attract recent graduates looking to enter the workforce. Research published by Forbes has shown that 88% of millennials prefer collaborative work cultures. By fostering positive relationships within your team and showing a commitment to work-life balance by making time for fun, an organization will be more likely to be attractive to job seekers.
Subscribe for More Business-Related News
Mentor Works’ weekly newsletter brings all the top Canadian small business news, whether it’s funding related, events you should know about, market trends, etc. directly to your inbox.
Sign up today and we’ll make sure you stay up-to-date on critical funding and business news.
The post Fostering Employee Engagement Through Work Social Events appeared first on Mentor Works Ltd..