The Value of Corporate Events: Why Businesses in Abu Dhabi Need These Gatherings

Corporate gatherings are at the core of any business. Some great examples are company excursions and commemorative programs, industry conventions, and product launches.

Unfortunately, some firms don’t see the importance of these events, slashing their business event management budget in a frail effort to save money.

But just because some executives are unconvinced of the importance of these events doesn’t mean your organisation doesn’t need it. The fact is, it does.

If you’re not sure what these gatherings can offer your firm, you’re in for a treat. This article will tackle the value of corporate events and the types of gatherings you need to accomplish different goals. 

1.   Nourish Company Culture

Many companies tend to put most of their resources outwards – to the market, target audience, and the community – and that is all well and good. However, it would be better if your firm also projects these thoughts inwards – into the company culture.

The employees are the lifeblood of any company. They serve as the cogs that make the entire machinery of your organisation work.

Of course, like any machine, your firm needs periodic maintenance, which can be in the form of a corporate event. You see, these gatherings serve as an avenue for nourishing a company culture that engages, empowers, recognises, and rewards employees. 

Engagement and empowerment

People want to work in a firm where they feel empowered and engaged. Like well-oiled gears, empowered employees deliver what’s expected of them (sometimes even more).

Engaged employees – or those who feel enthusiastic about, involved in, and committed to their company – tend to bring 2.5 times more revenue than those who do not. Plus, they are 87% less likely to resign from their post.

Some corporate events that foster employee engagement and empowerment are:

●       Team excursions and outings

●       Company tournaments and competitions

●       Training and workshops

●       Workplace parties

●       Learning lunches 

Cooperation and teamwork

Corporate events also help foster teamwork and cooperation across the company. This is especially true for organisations where employees don’t get to see or talk to each other because they work in different departments or have a remote work setup.

Cooperation also leads to mutual respect, making it easier for team members to perform their respective roles and handle their responsibilities well.

Most company events that foster these two values focus on team building. However, they should also have two important elements: They must be social, and they must be enjoyable. Some good examples include:

●       Workshops and training

●       Sports events

●       Team-building camps

●       Competitions 

Recognise and reward

The world runs on a give-and-take cycle. Buyers pay money for a product, traders exchange their wares, and companies compensate employees for their work.

But employees need to feel rewarded for their work besides getting wages. This is where recognition and acknowledgement delivered through corporate events become useful.

Businesses need to have a strategy to reward and validate their employees for their contributions. Many successful firms admit that working hard is only half of the equation for success – playing hard is also vital.

Because of this, celebrating and rewarding the team for their hard work has become a primary focus of corporate events. It is a great way to acknowledge their role in the company’s successes.

This can be reflected in programs such as:

●       Awards and recognition ceremonies

●       Game nights

●       Quarterly parties 

2.   Establish Strong Relationships

Relationships are important for companies, whether these are with customers and investors or within the team. And at the core of any relationship are open communication and constant coordination.

When you host regular company events, you bring everyone closer together and open the opportunity for your team members to learn more about each other. This also becomes a good chance to expand networks and foster respect and develop emotional intelligence among your group.

So don’t hesitate to try planning the following occasions:

●       Birthdays and other workplace parties

●       Team building excursions

●       Sports days

●       Employee conventions

●       Bar nights

●       Special days

The same goes for clients. Expos and industry trade shows increase sales, promote new offerings, and boost brand recall, making them a practical addition to any brand marketing strategy. 

3.   Improve Company Morale

When the company morale is high, a lot of things are improved. Employee absences decrease significantly when people feel that they are in a healthy work environment. When they are happy, workers also become more loyal and productive.

Corporate events make employees feel fulfilled in being part of something bigger while allowing them to just let their hair down after a hard day’s work. This greatly lowers stress levels from work and increases motivation to do a better job.

Moreover, these events offer you a chance to get things in perspective, especially if you’ve been constantly grinding but rarely celebrating milestones that you, as an organisation, have achieved. 

4.   Reward Loyalty

Corporate gatherings also serve as the venue to recognise loyalty for both employees and clients.

It’s no secret that many employees jump from one company to another, hoping to find greener pastures. However, this can be unfavourable for businesses as the cost of employee turnover can eat up revenue that could have been used to expand the business.

So be thankful for those who stayed and worked with you to build your firm from the ground up. No matter how you look at it, your organisation wouldn’t have gotten as far as it has without loyal employees working together as a team.

The same applies to your patrons.

Although all your customers contribute to your business’s success, not all have the same impact on your bottom line. So, don’t forget to show your top clients that their patronage is appreciated through the following events:

●       Industry conventions

●       Invitation-only parties

If you do this, your clients will realise that your company not only offers quality products or services, but also understands the value of loyalty and gratitude. They will be reminded that you care about their milestones as much as your own. 

5.   Foster Creativity

Creativity doesn’t come so easily. It’s not a bottomless well, but rather a big bottle that needs to be refilled every now and then.

In other words, you need to put something in to get your desired output.

The good news is, you can foster creativity in your workplace by holding activities and corporate events that can stimulate your employees’ creative juices.

Below are some examples:

●       Brainstorming sessions

●       Project workshops

●       Team building excursions

●       Skills training

Don’t forget: Brilliant ideas come from a stimulated mind, so be sure to keep your staff well-motivated, inspired, and engaged. 

The Takeaway

Corporate events offer plenty of benefits for a business. Not only do they support stronger relationships, boost morale, and encourage creativity, but they also nourish a healthy culture within the company.