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Top Tips for Hosting an Affordable Employee Recognition Event

  • May 25, 2024
  • 10 min read
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Top Tips for Hosting an Affordable Employee Recognition Event

Employees are one of the most important parts of your company. Success and failure depend on them, and a low retention rate can increase your costs by a large margin. So, apart from giving them a good salary and benefits package, how can you keep these employees happy? Well, keeping their job satisfaction high is one strategy. But to do it, you must thank them for their contribution. You can hold an employee recognition event to celebrate their success and to thank them. But they can be pretty expensive, so here are a few tips to arrange an entertaining event but keep it affordable.

Budget

Budgeting is the most important aspect of the event. A well-thought-out budget can help with the smooth execution of the event. Determine whether you will collect money from the employees or pay the expenditure from the company funds. Find affordable decor, food, and entertainment options for the event and write estimated costs for each. Then, contact the vendors, collect quotes, and choose the ones most aligned with your budget. It’s wise to save some extra money for emergencies.

Employee Involvement

Involve your employees in the event management process rather than hiring an event management company that will charge you thousands of dollars. As they know your company better, they can make more informed decisions faster and bring the event to success. Prepare a separate team and assign them different areas, such as food, entertainment, decor, etc. Don’t forget to thank them during the party.

Ideal Venue

Venues cost a lot. If you hold the event in your office, you can save the entire cost -. But if you can’t, choose a venue based on the guest list. Go for a bigger venue only if you truly need it.

The cost can also fluctuate based on an indoor or outdoor event. Both have different costs. Speak with your desired vendor to determine if your budget will allow it. Outdoor events might cost a bit more. But look for corporate packages by these venues to save a few hundred dollars.

Sponsorship

Sponsorship is another way to save money while arranging a big event. Reach out to local small and big businesses for sponsorship and showcase their brand to your attendees who are good target markets for their products. You can also ask the event vendors – such as the caterer, venue manager, and decor company to sponsor the event in exchange for advertising their services to all attendees. It’ll definitely help you cut costs.

Reusable Decor

Reusable decor is a great way to save money. You can reuse tablecloths, runners, napkins, cutlery, banners, and lighting if you store these safely. Buy decor pieces made from sturdy materials that can be washed or cleaned without damage. Take ideas from the internet if you’re unsure about the design and the material. Hiring an event management company will lessen your hassle. But they can also charge a hefty fee and take away the decor pieces after the event.

Affordable Food Options

Choosing an affordable menu from a local caterer can save you hundreds of dollars. Hiring an expensive chef and picking items from an expensive menu might seem tempting, but they cost a lot. Choose items or cuisines that most attendees will like. You can also ask their preference before finalizing the caterer. Also, ask about food allergies to prevent unwanted situations during the event. Avoid ordering excess food to prevent wastage.

Awards

Awards, especially personalized ones, are a great way to honor and thank your most treasured employees. Awards engraved with their names and achievements give them a chance to look back on their memories in your company years after they leave it. You can arrange plaques or service trophies prepared with durable materials, such as glass, metal, or acrylic. You can get them from many online and offline services that manufacture personalized awards.

Handwritten Notes

Giving your employee a customized ‘Thank You’ note will add a personal touch. However, printing customized notes can cost you a lot. You can arrange handwritten notes to make them feel more appreciated and special. And those will also serve as an affordable option. Buy good quality paper so that the employees can save the notes for years. You can find sample ‘Thank You’ notes online for inspiration.

Affordable Entertainments

Entertainers can cost you thousands of dollars for their performance. This is where you can ask your employees to step in and show their talent. They can sing, dance, perform a magic trick, play an instrument, do stand-up comedy, or even perform a skit. This way, your employees can show their hidden talent and keep the guests entertained, and you can save some money.

Virtual Event

And finally, hosting a virtual event is the best way to cut the costs of employee recognition events. You can hold an online conference over Zoom, Skype, or Google Meet and invite the entire office to witness the announcement and words of appreciation spoken for the award recipients. You can mail them their trophies and Thank-you notes to their addresses after the event.

Arranging employee recognition events can seem like a bit of a hassle. But they keep your employees motivated and enhance their loyalty. A happy employee will perform harder and contribute to your success more. So, arrange these events at least once a year to make them feel appreciated.

Top Tips for Hosting an Affordable Employee Recognition Event

Employees are one of the most important parts of your company. Success and failure depend on them, and a low retention rate can increase your costs by a large margin. So, apart from giving them a good salary and benefits package, how can you keep these employees happy? Well, keeping their job satisfaction high is one strategy. But to do it, you must thank them for their contribution. You can hold an employee recognition event to celebrate their success and to thank them. But they can be pretty expensive, so here are a few tips to arrange an entertaining event but keep it affordable.

Budget

Budgeting is the most important aspect of the event. A well-thought-out budget can help with the smooth execution of the event. Determine whether you will collect money from the employees or pay the expenditure from the company funds. Find affordable decor, food, and entertainment options for the event and write estimated costs for each. Then, contact the vendors, collect quotes, and choose the ones most aligned with your budget. It’s wise to save some extra money for emergencies.

Employee Involvement

Involve your employees in the event management process rather than hiring an event management company that will charge you thousands of dollars. As they know your company better, they can make more informed decisions faster and bring the event to success. Prepare a separate team and assign them different areas, such as food, entertainment, decor, etc. Don’t forget to thank them during the party.

Ideal Venue

Venues cost a lot. If you hold the event in your office, you can save the entire cost -. But if you can’t, choose a venue based on the guest list. Go for a bigger venue only if you truly need it.

The cost can also fluctuate based on an indoor or outdoor event. Both have different costs. Speak with your desired vendor to determine if your budget will allow it. Outdoor events might cost a bit more. But look for corporate packages by these venues to save a few hundred dollars.

Sponsorship

Sponsorship is another way to save money while arranging a big event. Reach out to local small and big businesses for sponsorship and showcase their brand to your attendees who are good target markets for their products. You can also ask the event vendors – such as the caterer, venue manager, and decor company to sponsor the event in exchange for advertising their services to all attendees. It’ll definitely help you cut costs.

Reusable Decor

Reusable decor is a great way to save money. You can reuse tablecloths, runners, napkins, cutlery, banners, and lighting if you store these safely. Buy decor pieces made from sturdy materials that can be washed or cleaned without damage. Take ideas from the internet if you’re unsure about the design and the material. Hiring an event management company will lessen your hassle. But they can also charge a hefty fee and take away the decor pieces after the event.

Affordable Food Options

Choosing an affordable menu from a local caterer can save you hundreds of dollars. Hiring an expensive chef and picking items from an expensive menu might seem tempting, but they cost a lot. Choose items or cuisines that most attendees will like. You can also ask their preference before finalizing the caterer. Also, ask about food allergies to prevent unwanted situations during the event. Avoid ordering excess food to prevent wastage.

Awards

Awards, especially personalized ones, are a great way to honor and thank your most treasured employees. Awards engraved with their names and achievements give them a chance to look back on their memories in your company years after they leave it. You can arrange plaques or service trophies prepared with durable materials, such as glass, metal, or acrylic. You can get them from many online and offline services that manufacture personalized awards.

Handwritten Notes

Giving your employee a customized ‘Thank You’ note will add a personal touch. However, printing customized notes can cost you a lot. You can arrange handwritten notes to make them feel more appreciated and special. And those will also serve as an affordable option. Buy good quality paper so that the employees can save the notes for years. You can find sample ‘Thank You’ notes online for inspiration.

Affordable Entertainments

Entertainers can cost you thousands of dollars for their performance. This is where you can ask your employees to step in and show their talent. They can sing, dance, perform a magic trick, play an instrument, do stand-up comedy, or even perform a skit. This way, your employees can show their hidden talent and keep the guests entertained, and you can save some money.

Virtual Event

And finally, hosting a virtual event is the best way to cut the costs of employee recognition events. You can hold an online conference over Zoom, Skype, or Google Meet and invite the entire office to witness the announcement and words of appreciation spoken for the award recipients. You can mail them their trophies and Thank-you notes to their addresses after the event.

Arranging employee recognition events can seem like a bit of a hassle. But they keep your employees motivated and enhance their loyalty. A happy employee will perform harder and contribute to your success more. So, arrange these events at least once a year to make them feel appreciated.

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Medchrome Partners

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