Jeremy Alexander Newsome is one of the leading global minds in stock market education and is the CEO of Trade in real life.
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We don’t have the money. We don’t have time. We don’t have the people to plan it.
These are just some of the excuses companies routinely offer to explain why they’re foregoing a corporate retreat. Such excuses are valid, but they can and should be overcome, especially if you are committed to attracting and retaining the best talent today’s workforce has to offer.
If you are a company that values retreats but have come to believe that the returns are not enough to justify the costs, allow me to offer three reasons why you should do a retreat in 2023. And if you’re a company that retreats to a waste of resources, maybe these reasons will inspire you to think again.
Table of Contents
1. Corporate retreats can upgrade your workforce.
If you were to join my company on one of our retreats, you would see us participating in activities designed to better understand who we are as individuals. These can be personality quizzes, such as those aimed at identifying our Type of human design, or exercises aimed at identifying each employee’s communication style. The goal is to study and understand the unique and brilliant capabilities each person brings to the team.
You will also likely hear from a guest speaker. This person would ideally stream into each participant, guiding them through healing exercises and providing insights designed to increase their effectiveness. Regardless of the specific topic, the overall goal of any presentation should be to encourage personal growth and increase happiness.
These types of activities not only increase the impact each individual employee can make, but also create a more powerful team dynamic. They help employees learn and understand how to contribute and become better collaborate. Essentially, they give the team the tools it needs to improve its efforts.
In addition, providing regular opportunities for personal growth and development is an increasingly important perk for those in the talent pool. Attracting and retaining the best employees in 2023 requires more than a competitive salary. The employees you want are looking for enrichment to be part of their employee experience. Companies that regularly spend time on enrichment, such as corporate retreats designed to increase effectiveness, can give themselves a competitive edge when it comes to attracting, hiring and retaining key talent.
2. Corporate retreats can increase impact.
As a manager, you have insight into the impact your organization makes. You know the metrics that matter and what they look like. If they look good, is an email or Slack message enough to share them in a motivating way?
Corporate retreats are a great place to share that kind of information and leverage it to build momentum. Getting everyone in the same room and celebrating how you crush your individual, team-wide or organizational goals is a great way to get people excited about the company, the things it accomplishes and the part they play in its success. Once people are excited, leaders can also provide vision and explain how those achievements can propel the company to even greater victories.
These kinds of celebrations can also better highlight the impact that individual teams and team members have. The new reality of remote and hybrid workplaces means we often value people over a Zoom call, at best, or an office-wide email at worst. Valuation has much more impact when delivered by a roomful of applauding colleagues who are elated by an inspiring speech. In my experience, appreciation given in this way can be life-changing for employees, making them even more effective.
3. Corporate retreats can underline a purpose.
The office routine is often focused on what needs to be done. It can be challenging to keep teams focused on why they do the things they do. If business leaders are not careful, a company’s purpose can become engulfed in a pile of policies and procedures.
Today’s top talent wants more than a paycheck: they want one target. Companies that take the time to regularly leave the daily routine behind to refocus and realign themselves with a purpose stand out as an attractive place to work, and corporate retreats are a fantastic place to do just that.
Overall, retreats are a tool companies can use to let employees know they matter, even when they’re not at their desk doing work. They show that the company values who people are, not just what they do. They declare that, thanks to the people who devote their time and talents to its mission, the company achieves things that deserve to be celebrated.
Achieving any of these things is important for any business. So find the money, the time and the people who can make it happen.
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