Recognition is key to employee retention programs. Investing in your employees is a good investment in your company. Forbes magazine reported that companies who actively work toward a recognition-rich culture had a 31% lower employee turnover rate. And according to a report from the Boston Consulting Group the top two reasons for job happiness are “appreciation for your work” and “good relationships with colleagues.”
Though most companies host holiday parties, it’s important to recognize employees’ hard work year round. Here are four reasons to throw an event this summer.
This may go without saying, but if your work environment isn’t fun, people won’t stay. Appreciation events show employees they are valued, and they foster company loyalty. This loyalty has a ripple effect. Engaged employees pass on their enthusiasm to their team members and eventually, the company culture and values improve. Summer is the perfect time to host appreciation events. Not only will the Vitamin D spread smiles, but the midyear break allows people to recharge their batteries and close out the year strong.
Work-life balance has a huge impact on your company culture and the overall performance of your workforce. Incorporating significant others into an employee appreciation event demonstrates that the company acknowledges the importance of a work-life balance. It also provides an opportunity for employees’ significant others to get introduced to the company and team members, which means they’ll be more supportive of the work. Events like an evening cruise or rooftop happy hour are perfect for incorporating significant others.
It’s important for team members to socialize, connect and celebrate together outside the office. Not only does an employee appreciation event strengthen existing bonds, but it encourages better working relationships between employees and teams that might not typically connect during their day-to-day routines. After the event, they’ll be excited to grow their new relationships back at the office. Interactive events like mixology lessons or cooking classes are ideal for team-building or appreciation events, and summer is the perfect time to reinvigorate your team. Once the midyear slump hits, it’s important to re-engage your workforce and refocus on team goals.
4. Encourage knowledge sharingOff-site events can also encourage knowledge sharing. If employees have a shared interest like table tennis or golf, participating in that activity outside of work can spark a new connection and break the ice for more in-depth conversation. Also, by leaving the confines of the office and entering a new environment, you’ll stimulate curiosity and get employees creative juices flowing. Team members will feel more comfortable sharing ideas with one another even after they’re back at the office.
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