Top 5 Reasons WHY you should have a Year End Function
Updated: Nov 7, 2019
Oh yes, Christmas decorations have already made their appearance in all the shopping malls. 2020 is right around the corner. Some businesses are already setting a slower pace while other are rearing up for the busiest time of the year. No matter the industry you’re in, there’s one question everyone is asking this time of the year: “Ehmm, are we going to have a Year End Function this year?”
If you are still pondering the pro’s and con’s for a corporate bash, we are thrilled to enlighten you with our Top 5 series. Within the next 5 weeks we’ll supply you with insightful information, facts and testimonials on Year End Functions to enable you to make an educated decision on the matter. The 5 Weeks of Top 5 will explore the following aspects:
· TOP 5 REASONS why you should have a Year End Function;
· TOP 5 TIPS on executing the perfect Year End Function;
· TOP 5 IDEAS to make your Year End Function special;
· TOP 5 THEMES to make your Year End Function memorable;
· TOP 5 AWARDS you should consider for your Year End Function.
Every industry have a certain “way” of doing things. The ; agriculture; social groups; government; non-profit organisations etc. Each to his own, but one thing is certain, everyone likes a fun time. And that is what Year End Functions are mainly about. Rewarding the hard work and team effort throughout the year by having fun together.
Here’s our TOP 5 REASONS why you should have a Year End Function:
1. It is fun
Fun at the workplace is becoming more and more important all over the world. One could argue that a Year End isn’t having fun during work, so it doesn’t count, but the memories of the fun you had will stay with you long after the Year End Function is finished. As well as the connections you make with colleagues.
There are many studies about fun and the impact it can have on employees. Each year, the Great Place to Work Institute asks tens of thousands of employees to rate their experience of workplace factors such as “this is a fun place to work”. It might surprise you to know that the employees of 81% of renown great companies can confidently state that they are working in a fun environment. Amy Lyman, chair of the board and cofounder of the Institute, explained that fun and success go hand in hand. And, all companies should be wondering how to have more fun. “It’s absolutely a question companies should be asking themselves, because it is something that happens in great workplaces,” she said. (https://www.monster.com/career-advice/article/fun-at-work-matters-levity-effect)
2. Recognition and reward
If you value your employees, and don’t want to lose them to your competitor, recognition and reward will go a long way in the long run. Gallup’s State of the American Workshop research in 2017 found that a lack of recognition is one of the most common reasons why people leave.
Appreciation is a fundamental human need. Dr Ashley Whillans from the Harvard Business School states “Employees respond to appreciation expressed through recognition of their good work because it confirms their work is valued by others. When employees and their work are valued, their satisfaction and productivity rises, and they are motivated to maintain or improve their good work.”
The Year End Function covers both bases with one go. It serves as an opportunity to publicly recognize individuals and divisions who’ve gone above and beyond the call of duty by bestowing upon them awards, certificates or prizes. It also serves as a reward, as it is usually an exciting event with good food, beverages and entertainment. A real treat and something to look forward to each year.
3. TAX deductible For the penny pinchers, the best reason to opt for a Year End Function, is because it qualifies as a TAX deductible item. This can be seen as a staff welfare expense. All of the expenses you incur for the Year End Function is tax deductible. These could include drinks, meals and live entertainment. The only thing is you need to prove to SARS that the entertainment was provided in the pursuit of business.
4. Imprinting values and vision Your company values are deeply rooted and dearly held. They are the most important guiding principles about the way employees do their work. There’s not enough opportunities to emphasise the merits of clearly defined values. That said, it is up to management to create these opportunities, and the Year End Function can be a very successful tool used to define core values… again.
Values also set the tone for workplace culture and identity. When employees align their personal values to those of the company, it will positively influence work relationships, productivity, job satisfaction and creative potential, ultimately achieving goals and contributing to the leadership vision.
The leadership’s vision permeates the workplace and it manifests in the employees’ actions. Jack Welch said “Good business leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion.” A shared vision is a powerful dynamic factor driving employees to perform better and better. The Year End function serves as the perfect opportunity for leadership to inspire employees by expressing their passion for their great vision.
Every employee plays an important part in the bigger picture. It is easy to form tunnel vision during the hustle and bustle of everyday work because we only work to meet one deadline upon another. The truth is, it is leadership’s responsibility to realign the focus of the employees by making them see the bigger picture.
Mr Schütte of Frans Schütte and Mathews Phosa Inc, a reputable law firm in Mpumalaga, have a beautiful custom, where once a month every single person in the firm come together in the boardroom and they share the positive events that have happened, give praise where it is due, refocus on goals, emphasize the core values and vision and end the get-together with prayer for company and employees’ wellbeing.
If you have a similar custom, well done, if not, the Year End Function can be a wonderful event where employees of all standing get together, once again see the bigger picture they are part of, and refocus on the fact that as a team anything is possible. Never underestimate the power of building morale and team spirit!
At Kilima Private Game Reserve and Spa, we can accommodate Year End Functions for up to 300 guests. Contact us for more information about our 2019 Specials.