Still on the fence about hosting an end-of-year party for your employees? Like any event, it requires some planning in order to be successful. However, there are several undeniable reasons why companies should host an end-of-year party.
Motivate Employees for Next Year
Hosting an end-of-year corporate party motivates employees, giving them a newfound drive and determination to succeed next year. You can use this opportunity to thank employees for all of their hard work and dedication. As a result, employees will begin the new year with greater motivation.
Hosting an end-of-year party allows employers to recognize their workers. Why is this important? Well, a study conducted by Globoforce found that more than half of workers would leave their current job for a company that recognized their efforts. One way to recognize employees at an end-of-year party is with a rewards ceremony, showcasing all of your company’s hard workers and providing them with trophies, plaques or other rewards.
Reflect on the Year
Of course, hosting a party during the latter part of the year allows companies to reflect on the past 12 months. Were sales goals met? How much did the company grow? Which areas need improvement? These are all things that can be addressed during a party.
Tax-Deductible for Current Year
Hosting a corporate party isn’t cheap, but assuming it’s done prior to January 1, those expenses should be tax-deductible for the current year. You should always consult with a certified accountant or tax professional for more information, but this is a benefit that usually goes unnoticed.
Doubles as a Holiday Party
An end-of-year party can double as a holiday party for your company and its employees. Rather than throwing two separate parties, which costs twice as much and double the effort — you can bundle them together in a single party. Doing so allows employees to enjoy the holidays while kicking off the new year with a bang. It’s the perfect “catch-all” event for this time of year.
Here are some tips on hosting a corporate end-of-year party:
- Plan your party on a convenient date, preferably between Christmas and New Year’s Eve.
- Schedule entertainment in advance (many musicians and DJs are busy during this time of year).
- For an added touch of character, plan your party around a “theme.”
- Choose seasonal food and beverages.
- Arrange for transportation so employees can get safely home.
- Plan your party in a venue outside of the office/workplace.
Photo credit: David Higgs