Employees are vital parts of your organization and are much costlier to hire than to retain old ones. That’s why companies must practice employee recognition to boost their morale and loyalty.
Part of employee recognition is to throw them an event where you can publicly thank them for their efforts and celebrate their success.
But these events can be expensive. Looking for an affordable way to plan these events? Below, we have listed a few smart strategies. Take a look.
Top Strategies for Planning Employee Recognition Events
Below, we have listed a Smart Strategies for Planning Affordable Employee Recognition Events. Take a look.
Create a Budget
The success of any event depends on proper planning and the wise allocation of resources. Prepare a budget based on the event objectives.
Start with deciding what portion the company will bear and what portion to collect from the rest of the employees. List down decor, food, and entertainment options and how much you want to spend for each. Don’t forget to collect quotes from multiple vendors and choose the most affordable one.
Get Sponsors
Local big or small businesses often sponsor events in exchange for promoting their brand. Reach out to these businesses to explore sponsorship options that can save you money. There are many ways companies can expose their brands to potential customers.
Local caterers or event companies can also be sponsors and bear partial costs in exchange for putting their names forward.
Pick a Suitable Venue
A venue will take up the biggest portion of your budget, so choose it wisely. You can hold the event in your office premises if there is sufficient space. It’ll save a lot of money. If you can’t do so, choose a venue based on the number of attendees. Don’t pick a large venue to make the event look good.
The cost will also vary based on an indoor or outdoor venue. If you want the event to be picnic-style, choose an outdoor event. But it might cost you more. Look for corporate packages offered by these venues to save money.
Choose Reusable Decor
If you don’t rely on an event management company for the decor, choose ones that you can reuse throughout the years. Take inspiration from the internet.
The colors should reflect your brand image. Invest in quality decor so that they can retain their value for a few years.
The material for napkins, tablecloths, and runners should be washable. Photo booths should have sturdy material for easy storage. Store the lighting and banners in a safe place. You can reuse the banners if you don’t print the event date on them.
Give Personalized Awards
Your employees spend years in your company and bring you profits. There is no better way to thank them than to give them a personalized award.
Search the internet to find service award ideas. You can order plaques or trophies prepared with individual employee’s names and achievements. Choose a sturdy material so that they can preserve the award for many years and look back on the memories.
Include Handwritten Notes
Along with a personalized award, you can include individual and personalized handwritten notes thanking your employees for their dedication and contribution to your company. It adds a personal touch and makes them feel special.
On top of that, printing these individual cards can cost you more than handwritten ones. Invest in good quality paper so that they can preserve the note for many years.
Involve Employees in Event Management
Event management companies can charge thousands of dollars to arrange a simple event. You can include your employees to save the cost. Prepare a team that can take responsibility for each area, such as decor, food, awards, and entertainment, and divide the tasks accordingly.
Since they know your organization better, they can make faster and more accurate decisions and make the event successful with minimal effort.
Find an Affordable Catering Option
Food is another section that can cost you a fortune if you don’t plan the meal properly. You can always choose a good chef and pick a menu from an expensive restaurant. But it’ll cost you a lot more than affordable catering options.
Local caterers usually have a wide selection of items at cheaper price brackets. Rather than choosing too many items, pick one or two cuisines that the attendees are more likely to prefer.
Find Affordable Entertainment
Entertainers also charge thousands of dollars. You can ask your employees to be more involved and entertain the guests with their talents.
They can sing, perform a dance routine, play an instrument, recite poetry, show a magic trick, and do much more. If you want group activity, you can hold small games where all attendees can participate.
These options can help cut costs significantly but still give your attendees a great experience.
Hold the Event Online
The best way to save money during these events is to hold them online. You can use a teleconference program such as Zoom, Google Meet, or Skype to host the event and add all attendees over the internet.
The event will be cut short and have announcements of the top performers and a few words of appreciation and encouragement, but they will feel comfortable. Don’t forget to ship out their awards to their addresses.
Recognition programs and events influence the employees and enhance their job satisfaction. They feel more appreciated, and their loyalty to the company increases. So, arranging this event at least once a year can help with employee retention and benefit your company in the long run.