What are Corporate Events?
Corporate events are activities arranged and paid for by organizations or enterprises for different purposes. These events may include hospitality or social functions aimed at different audiences.
Attendees of a corporate event vary significantly depending on the goal and target audience of the event organizer. Employees, investors, company executives, existing customers, potential clients, and other businesses are the usual entities present in a company gathering.
Companies normally organize events for many reasons, which may include:
- dissemination of information
- celebrating a company achievement
- motivating employees
- announcement of organizational changes
- encourage collaboration
As of 2018, the global events’ industry is valued at over $1,000 billion USD. According to experts, it is expected to reach $2,330 billion USD by 2026. Corporate events are found to be the biggest contributor to the continuous growth of the global events’ industry.
Benefits of Company Events
There’s no doubt that the primary purpose of hosting company events is to gather employees, investors, clients, and other company stakeholders together. However, it’s important to know that these events offer more than just socializing and gathering opportunities.
Here are some of the key benefits that you can get from hosting or attending a company event.
Establishing Company Culture
Hosting an event is a good way to showcase and strengthen your company’s core culture and values. Most employees and investors prefer to work for companies who appreciate and value their hard work.
While culture is said to be molded by a company’s mindset and daily activities, it can be solidified at company events. A company motto posted on the wall won’t generate the same amount of excitement as company events do.
Events hosted by organizations can significantly improve employee engagement. When employees are engaged, they tend to be more productive and enthusiastic with their jobs. This in itself, is a huge thing for any business.
Perhaps the most rewarding benefit of hosting a company event is relationship building.
Employees, executives, and clients tend to be more relaxed when at company events. These events can bridge the gap, created by pressure at work, among your employees. Spending time outside together and away from the office can significantly boost teamwork.
Bringing your employees from all levels and different departments together can also create a more friendly and collaborative environment. Companies who understand the importance of company events plan them regularly. Some of these events include hiking or kayaking trips, sports tournaments, buffet dinners, and more to promote camaraderie and collaboration between employees.
Networking is another crucial benefit of hosting company events. Employees and company executives take it as an opportunity to connect with existing and potential clients. Hosting company events can give you better chances of attracting likely investors and clients. That means higher possibility of expanding your company.
Collaboration formed at company events can lead to more productive outcomes. One of which is the generation of new ideas. Routine work in the office can become dull and draining for your employees. Hosting a company event can give them the break they need to unwind.
Communicating and simply mingling with coworkers in a relaxed environment is an effective way to ease your employees’ mental stress and boost their morale. When your employees’ morale are high, and they are happy, they become more productive. Remember, a productive team means more success to the company.
5 Common Kinds of Corporate Events
Trade shows are among the most common kinds of corporate events today. A company normally holds these shows to reinforce its image as an industry leader or to generate leads. Trade shows are usually hosted in massive spaces and often involve booth spaces, promotions, advertising, and some keynote speaking opportunities.
Awarding/ Appreciation Event
Large corporations often host awarding or appreciation events annually. This kind of program enables the host organization to spend time with its employees, clients, and other guests in a more relaxed environment.
These events also provide an opportunity for a company to reward and acknowledge key individuals for their contribution to the growth of the business. It can boost the morale of employees and make clients feel valued.
A conference is a corporate events aimed at enriching the knowledge of employees, customers, partners, and other entities involved in the company. Conferences are mostly for targeted audiences. They may ran for a few hours up to a month, depending on the agenda and purpose of the conference.
A conference typically has multiple sessions held in succession or at the same time in a big space or different places, normally hotels. Conferences also employ multiple speakers.
The primary purpose of launching events is to inform employees, partners, customers, and potential clients of the release of a new product. Business-to-consumer companies often hold launching events and parties to create buzz around their upcoming or newly-released product.
Launching events are corporate events aimed at gaining media coverage before, during, and after releasing a product. Some companies include impressive stage introductions to their products together with keynote addresses from top executives of the company. To gain more attention, some companies tend to invite popular personalities and entertainers to their launching events.
Team Buildings/ Workshops
Team buildings and workshops are corporate events arranged by a company to help its employees develop their skills and build rapport with one another. At times, organizations also use external audiences for these events.
Team buildings and workshops often involve physical, interactive, and challenging activities that would require participants to collaborate and work with each other. These kinds of events are significant in motivating and building the moral of employees.
If you own a business or company, make sure to include company events as part of your employee and customer engagement strategy. It’s a powerful method to motivate your employees and impress your investors and customers.
Company events are not only for showcasing your brand and products. It can also help you improve your company culture, promote collaboration, boost creativity, and reduce the stress of your company’s stakeholders.
If you want to take advantage of these benefits, make sure to plan your company events. Know what works best for your brand, employees, and clients, then throw an extraordinary event. Believe us, the outcome will be worth all the effort.