business Perspective: The importance of the company end of year party

The end of the year is around the corner and companies are busy preparing for end of year parties. It is believed that if it has been a long standing tradition within a company to hold a year end function and then one is not held, this can often lead to dissent among the staff. Staff can often feel cheated and unappreciated. As much as most companies are experiencing the credit crunch, it is vital that they make every effort to ensure that their staff is happy, looked after and are given no reason to want to leave it for another. If a company is considering not having the end of year party, it is wise to consider the impact on staff moral. This year might be very hard for most companies and even individuals but what is important is not how big the party is, but the courtesy of showing appreciation. There are a few options that can be viable for some companies; like doing a barbeque at the CEO’s place or having a breakfast party, which is cheaper in most cases, because expensive things like alcohol are not included and the company will be cutting down on the expenses. Research shows that people leave their jobs mainly because of a lack of appreciation not compensation! It is therefore possible for a company to create a workplace where people feel they are listened to, recognized and appreciated, and where profitability grows.Appreciation is a fundamental human need. Employees respond to appreciation expressed through recognition of their good work because it confirms their work is valued. When employees and their work are valued, their satisfaction and productivity rises, and they are motivated to maintain or improve their good work.Employees value these organizations by staying longer, doing more, helping each other do more and contributing to the growth and development of their company. Money, position and power are one small part of the formula when it comes to taking care of our most valuable assets, the people who comprise our workforce.Cultures of appreciation contribute to cultures of power, passion and profitability because people know they matter! Appreciation is part of the vitality of relationships and vital relationships are what produce the best that our companies have to offer. Kayitesius@yahoo.com