THE ENGAGEMENT CHALLENGE
Workplace culture has long been the ace card, up the sleeve of companies hoping to attract top talent, however Hybrid working has added an additional challenge to employees hoping to promote company engagement. Despite many companies starting to address the in-out office weekly ratio in favour of bringing their teams together, there are still barriers.
Employee engagement dropped from 41% to 37% in 2023 and is expected to continue slipping to as low as 34% in 2024. In response to growing fears of a detached remote workforce, many companies are rethinking their entire internal identity, and with good reason, as the research does seem to support these concerns.
How do we ensure team members separated by remote work feel a part of not just their own team, but most critically feel connected to their organisation’s purpose, vision, and values? Companies are turning to purposeful internal events as a key strategy to improve engagement, promote team collaboration and increase belonging.
No longer just a change of scenery, the offsite is now an important moment for building connections and shaping company culture. Online interactions lack the spontaneity and energy of face-to-face, and a few days in the office just isn’t enough to form strong ties with colleagues. Teams need real moments for human connection – a shared memory that also provides meaning to their work. This is the chance for companies’ to go the extra mile and inspire colleagues with an authentic gesture of appreciation and collaboration.
According to Gallup’s meta-analysis, businesses with highly engaged workforces are 21% more profitable, highlighting a direct correlation between engagement and ROI. The company offsite is therefore a strategic investment with the potential to deliver significant returns. The meaningful interactions strengthen teams, leading to better productivity and improved collaboration back on home turf. By aligning offsite experiences with business objectives, companies can ensure that every penny spent translates into tangible outcomes, driving long-term growth and profitability.
Good company culture isn’t just a buzzword, it’s a tangible asset that can drastically reduce staff turnover and increase revenue by 4 times over according to Forbes. By bringing teams together in inspiring offsite environments, brands can craft experiences that immerse their internal audiences in the collective mission, creating a shared sense of purpose and belonging. Offsite experiences also break up the monotony of daily routines and reignite people’s passion for what they do. In short, offsite events provide the perfect platform for leaders to celebrate and motivate contributions of their teams.
The spotlight on employee engagement is shining bright and the company offsite, once seen as a nice perk, is now for many one of the most important moments of the year for a business, but they come with budget and planning considerations.
Event and Travel management companies like TM G can help your company create a tailored offsite experience that’s a strategic ROI tool for engagement and collaboration. At TM G, we understand the critical role that company offsites play in embedding culture and shaping org-wide success. With experience in helping council considerations around budgeting, internal resources for planning, leveraging our global network of suppliers and importantly reviewing an event’s environmental impact, our team of specialists are able to support every step.
