As the economy continues to recover, businesses show a growing interest in using company retreats as a way to improve communication, morale, and job-related skills among employees. Shedding their image as wastefully extravagant, retreats have sought to gain a new image as a way of reducing employee stress while energizing their enthusiasm for their job and the goals of the business. Company retreats have become a powerful tool that business owners are using to improve employer-employee relations.
“Company retreats give employees something to look forward to and strive toward while building team morale,” says Tara Koch, spokesperson for Endless Escapes, a travel company that helps businesses plan their retreats. “The human body takes three days to physically unwind. With everything people are juggling these days, they need to unwind and disengage, and a corporate retreat is a great way for them to come back much stronger.”
The new view of company retreats is much more scaled down than in the past. Gone is the wasteful decadence, which has been replaced by a more sensible approach. The idea is to be clear about the focus and goals of the retreat so that both the business and the employees benefit from it. By following a few basic guidelines, you can create a successful company retreat that will be enjoyable and noteworthy to all who attend.
Once Symbol of Corporate Excess
The traditional, long-held view of corporate and company retreats is that they were reserved for upper management, who went to extravagant places like Lake Tahoe in private jets and lavishly spent the company’s money while holding meetings that boasted about the great job they had done in the past year, and the fabulous projections for the next year. Regular employees were rarely invited to these events and saw them as a frivolity enjoyed only by executives.
This traditional view peaked in 2008 while the Great Recession was underway when, immediately after receiving bailout money, AIG executives spent over $400,000 on a corporate retreat. Hosted at the luxurious St. Regis Resort and Spa in Monarch Beach, Calif., it was reported that “the executives treated themselves to over $150,000 in food alone in only a week.” The public was outraged, and corporate retreats were viewed as wasteful, so much so that interest in retreats dropped nearly 90 percent.
While the business climate continues to improve, the perception of company retreats has not only softened, but the overall concept has undergone considerable changes. Many businesses have discovered ways to hold cost-effective and scaled-down company retreats that generate goodwill and unity between staff and management. One thing the recession has taught businesses is the importance of holding down expenses. With that in mind, retreats and office getaways do not have to break your company’s budget.
Today's Events Bring Real Value to the Business
Small business owners as well as corporate executives can improve the overall performance of their workplace by investing in a company retreat. It gives employees an opportunity to get away from the stress of the job while allowing them a chance to regain their perspective and rediscover their passion for their work. When they go back to the workplace, they have a renewed energy and vigor, which translates into a happier employee who is overall more productive.
The main advantages of company retreats include
- improved employee morale
- an opportunity for valuable training
- better communication between employees
Like a vacation, company retreats offer employees an opportunity to revitalize their body and mind. Holding a retreat outdoors can also help employees step out of the office and gain a new perspective. Mark Duvall of Old Man’s Cave Chalets in Hocking Hills, Ohio, advocates outdoor retreats when he says, “We see a lot of repeat business from our corporate clients. Getting away from the office and computers allows them to connect with one another and focus on high-level strategy, without the usual distractions.”
Company retreats can provide valuable training as attendees learn to develop creative and problem-solving skills that can result in increased productivity and less need for constant supervision during the work process. Employees can teach each other job skills and be trained in new methods for doing their job. By learning other jobs in the company, employees can back each other up in the event of illness or injury while becoming more productive for the business.
Often, there is a lack of cohesion among employees, particularly when they perceive they have little in common with each other. Retreats provide a means for employees to interact together in common activities that then become shared experiences. The more they interact, the more they begin to discover things in common and begin to develop the bonds of friendship. This camaraderie continues into the workplace and makes it easier for employees to work as a team.
Make Your Corporate Retreat a Success
In order to fully reap the benefits of your company retreat, you need to set your business goal for the event and then plan accordingly to achieve it. As Marianne Liteman, president of Liteman Rosse, a consulting firm that designs and leads retreats, says, “Having a retreat to keep things exactly as they are isn’t a good use of staff time. The retreat should have a business purpose. If you don’t have a strategic reason for holding one, it’s better to do something else with your resources.”
Some suggestions for making your company retreat a frugal success:
- Stay local to avoid traveling costs and lost time.
- Negotiate prices and barter whenever you can.
- Involve your employees in the planning.
- Schedule activities that are interactive and educational.
- Make sure the place you choose meets your needs.
- Hire a company retreat planner to make all your arrangements.
“When planning a corporate retreat, it’s best to go through a travel agent because they have access to the best rates and will in the end save you money,” Tara Koch of Endless Escapes explains. “Besides, there’s nothing worse than a surprise when you get to a business retreat. This is why it’s important to hire someone who will see to all the details.”
