Business owners need to build long-lasting relationships with customers and stakeholders if they want to have a successful business. One method of relationship building is through corporate parties or events. However, planning for an event may be a very challenging task. While business owners can hire event management companies to do most of the legwork, owners need to be on top of every step of the planning process. Here are the things to consider in planning for corporate parties.
- Understand the Objective of the Event
Why do you need to have a corporate party, and what do you expect to gain from hosting one? Most businesses throw corporate parties after a successful fiscal year to show their gratitude towards employees, loyal clients, and other stakeholders who helped with the success.
- Setting the Budget
Corporate parties need not be expensive. One of the common practices of business owners is to allocate a certain percentage of the profits that exceed their sales target for the year to be used for the party. However, unexpected things may happen during the day of the corporate event, and owners need to set a specific budget and then add ten per cent more to that amount as a cushion for “just-in-case” scenarios.
- Decide on the Audience or Attendees
It is also important for business owners to identify who they will invite to their corporate parties. If the purpose of the event is to show gratitude, companies should include their biggest clientele on the list. On the other hand, if the corporate party is aimed for team-building purposes, then the guest list should only be limited to the internal staff of the company.
- Select an Appropriate Venue
If you are going to host a corporate party for your inhouse employees to show your gratitude for a successful month, quarter, or fiscal year, please DO NOT do it inside your office. Your employees are working their 100 per cent, day-in and day-out in your office. If you want to thank them, do it in a venue that is either relaxing or have fun-filled activities for them to participate. There are a lot of different venues that cater to corporate parties. Venues with a combination bowling alley and restaurant bar are ideal places to let your employees unwind.
- Establish a Program of Activities
Even if you choose a bar for your corporate party, you should add a little formality to the event by incorporating a short program. As the business owner, you should prepare a speech that shows gratitude and boosts the morale of your employees for upcoming challenges.
- Choose a Theme and Format
It would be best if you also made your corporate parties more festive by deciding on a theme and format. For example, you can ask the whole company to come in their favourite superhero costumes. Not only will this be fun for the whole company, but it will show your employees’ creativity in creating costumes.
- Plan the Logistics of the Party
If you are going to let your employees unwind during corporate events, you have to ensure that proper logistics are in place. Assign an emcee and an activities coordinator to make sure that the party does not die down. Set the source of the music of either a live band, DJ, or karaoke singers from your staff. If your party will serve drinks, assign designated drivers or allocate lift or uber rides for your employees who had a little too much fun for the night.
These seven considerations will help you in hosting epic corporate parties for your employees. When your corporate parties are successful, your employees will become highly motivated to perform and produce more for the next fiscal year.