When people hear about all the fun stuff that we do at Sealstrip- parties on the clock, team building, weekly lunch, lunch and learns, and so many more- sometimes I get the feedback that people would rather have the money in their paycheck. I contend that the money spent on these activities actually improves profits.
How does spending money on fun generate profits? Here's how it works. Employees attend events, socialize, get to know each other a little better, have a drink, play a game, enjoy each other's company.
This leads to individuals caring about others' success. When given the opportunity, they are more likely to have a conversation, provide information, and contribute to what technically isn't their job or responsibility. They want their co-workers, who they now care about, to succeed. This leads to higher productivity and high performing teams. This individual and team productivity generates revenue growth and increased margins. Hence, parties bring profits!
Employee engagement is the buzzword of 2016. Measuring it and best practices for maximizing it are common themes. This example of company events increasing profits has increased employee engagement written all over it. That's the link between the event and the profit. Engaged employees have each other's back, care about their co-workers and the company, and go the extra mile. I'll throw that party anytime for those outcomes!