Businesses 'must consider power of corporate hospitality'

Date: 18/02/2009

The current climate necessitates a need to demonstrate return on investment, it has been stated, with companies needing to avoid "knee-jerk reactions".

Elling Hamso, writing for Fresh Business Thinking, said that loyalty of customers to businesses is dwindling and as a result, people should consider the power of corporate hospitality events to keep bonds strong as happy customers create happy workers.

It was added that on top of this measure, cancelling team building events, strategy seminars, staff incentives and training courses - particularly when employees are feeling insecure about their futures due to the market - can be "hugely counter-productive".

The recommendations were mirrored by MotivAction's client services director Kieron O'Shea, who noted that the need for team building would "never diminish".

He continued: "Making existing staff more effective, retaining the best talent, improving group morale and rewarding team excellence are just a handful of the valid reasons in staging a team building experience."

The expert added that the exercise must be targeted at producing the most beneficial effects on workers, as these people are the most important subjects of any such activity.

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