There can sometimes be a stigma around throwing a company party because some believe it is a waste of money. Throwing a company party is NOT a waste of money. Here is the top 5 things you can show your boss to convince them to let you throw a company party.
Reason number one on our list for throwing a company party is company culture. When you draw together a number of skilled people you create a culture of your own. This is going to happen one way or another and it is up to managers to ensure that the team they are building grows together. When you throw a company party you allow your staff a chance to grow together and learn about what the company’s vision is. Staff parties can help develop a culture of happiness, which is proven to lead to an increase in productivity. A study done by IZA World of Labor and Dr. Eugenio Proto proves that employees who feel more emotional fulfillment are more likely to succeed. That is why Absolute Amusements prides ourselves on planning events that promote conversation, team work and engagement with their coworkers.
You can choose to show your employees that your company is doing well and that they are valued a lot more with a party than through meetings and sales reports. A study shows that happy workers are 12% more productive. A company party is also a great way to retain employees. In fact, Richard Branson shared his top tip on how to get the most out of a business and its employees; “Throw the biggest staff party,” he advised. “Work should be fun and enjoyable.” – Richard Branson.
There are a number of ways to make your dollar go a long way. A lot of catering companies and event rental companies have different packages they can offer you during your corporate event planning process. Some companies opt to not do giveaways and use that extra money to offer entertainment like photo booth rentals, giant games and even DJs. Just because you are throwing a party doesn’t mean you have to do an open bar. You can allow your employees a few free drinks and then turn it into a cash bar after their limit has been reached. This helps keep the cost of the party down. Check out this other blog on 7 ways to throw a great company party without going broke.
When it comes to taxes every little bit counts including money you spend on your company party. According to Turbo Tax:
If meals or entertainment are provided for the benefit of your employees, you can write off 100% of the cost as a business expense. This is an exception to the usual 50% write-off rule for meals and entertainment.
Common examples of expenses that can be written off at 100% include:
Company parties are a great time to share the companies good news, share new ideas, new procedures and make sure everyone is on the same page when it comes to how the company is running.
At the end of the day if you need help, then you can call the Corporate Event Planners at Absolute Amusements. With over 20 years of experience, and a huge inventory of fun things to do we can help you plan a successful company party. We can offer photo booths, giant games, pool tables and much more!