When venues say they’re investing in their events services, refurbished conference rooms and high-tech screen spring to mind. But as companies move away from traditional boardroom settings, there’s a growing demand for activities and team building events. Whether they’re used as an alternative to meetings or in addition, venues are missing a trick if they don’t consider the benefits of offering these services in-house. Research shows that brands are spending an average of £305 per person on team building, with the industry now valued at more than £200million. As companies strive to go ‘the extra mile’ for their staff, it’s the perfect opportunity for venues to step in and support them.
UNIQUE EXPERIENCES FOR CLIENTS
According to a Gallup study, up to 51% of workers are disengaged with the organization they work for, and it’s costing businesses money. One article suggests that companies lose up to $550 billion a year in lost productivity when employees aren’t fully engaged with the brand and their jobs. Meanwhile, a growing body of evidence shows that companies who actively promote a positive environment for their employees see higher staff retention rates than those who don’t. As a result, there’s a greater demand than ever for unique and exciting team building experiences. If you can provide your clients with the opportunity to build these unique memories with their employees, the recommendations will come flooding in.
PUTTING YOUR OWN SPIN ON IT
By offering an in-house team building service, your venue will be able to support clients in the direction of their events. Giving you more control over your services, you can build a program that works for both your venue and your clients, maximizing the opportunities you can offer. It allows venues to offer a personalized service with added value, which will keep clients coming back again and again. It also means you won’t have to deal with external companies using your venue for team building activities, whose processes might conflict with your own.
Team building is often something that venues shy away from due to the cost and hassle of getting games and activities up and running. But if you’re utilizing technology to run simple events, it can be an easy way for your company to generate additional revenue and retain existing clients. By offering simple, cost-effective team building options that benefit companies, venues can increase both sales and conversion rates. If you’re after new clients, it’s a great way to get them interested.
BECOME A ONE-STOP SHOP
If your clients are looking for more, it makes sense to offer them what they’re looking for. By creating a ‘one-stop shop’ for the companies you work with, you’ll be able to present over-worked event planners and company executives with a simple solution that meets all their needs. As you gain experience over time, this process will become increasingly more simple, making it cost effective for both the venue and the clients.
With six in 10 millennials actively open to new job opportunities, companies need to work harder than ever to retain their staff. It’s no surprise that organisations are seeking to ‘up their game’ when it comes to offering dynamic events for team building and training. After all, brands are not only in competition with rival companies, they’re also in competition with themselves. Taking team building in-house at your venue will enable you to offer unique events based on each individual clients’ objectives. Helping them to stand out from the crowd, it could be the incentive they need to pick your venue over any others.