Some of the potential upsides to work parties - Deepstash
Some of the potential upsides to work parties

Some of the potential upsides to work parties

  • Showing your employees that you appreciate their contribution to your company is a great way to up employee morale and increase employee retention.
  • A work party can be a wonderful stress-reliever and provide an opportunity for your employees to relax and have fun.
  • Employees develop interpersonal relationships.
  • Any sort of recreational activity allows employees to de-stress and regain the strength that they need to tackle challenges in the workplace.

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MORE IDEAS FROM Work parties- Are they good or bad?

  • Give employees the day off. Everyone appreciates having a little extra time to spend with their loved ones.
  • Giving Christmas gifts or hampers shows that you have a bit of holiday spirit without the drama and downfalls involved with work parties.
  • Instead of spending a large amount of money on a work party, why not divide this money up amongst your employees and grant it to them as a 13th cheque or end-of-year bonus?
  • Have a very short end-of-year lunch at the office This is a great compromise as it can be seen as somewhat of a work party.

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  • Certain people feel excluded or feel obligated to attend.
  • Work parties can be breeding grounds for gossiping, bickering, and other forms of drama.
  • The question of alcohol is a big one that you will need to think about carefully if you plan to host a work party.
  • A work party can be quite a hefty company expense.
  • Allowing employees to bring their spouse or even entire family along can make the experience a lot more enjoyable and convenient for certain employees. But employees who do not have someone to bring along could feel very lonely. This will also add to the costs.

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  • Mind the employees with specific dietary requirements. You should also be sensitive to employees’ religious and cultural backgrounds.
  • Keep it short and sweet. The longer that a work party draws on for, the more likely it is for employees to become bored.
  • Choose a convenient location, that all can travel to easily.
  • Do not make it obligatory. Your employees have a life outside of work.
  • Hand out special awards at your work party. These could be serious or simply fun and silly.

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Work parties are most likely to be a positive experience when you have a close-knit team that you know enjoys each other’s company. Work parties are also most likely to work when they have been carefully planned.

Work parties are least likely to be a success if you have a large, diverse group of employees that already struggle to get along.

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RELATED IDEA

In a business, conflict and tension, if well managed, can be positive and allow employees to grow. 

A business that has no conflict and tension is often stagnant; people are not challenging one another and bringing new creative ideas to the table. 

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Holiday events build connections

Working from home has the potential to be very isolating. Holding virtual holiday events are a way to build connections with faraway colleagues.

A company holiday party acts as an acknowledgement of your membership in a community and recognition of your work. When the option for you to participate is missing, it can send a signal that you're not a full member or fully appreciated.

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Top business lessons to take away
  • Have a vision in mind, and let that steer your decisions. Belfort didn’t get rich by accident.
  • Sell Yourself. Belfort acted powerful and wore fancy suits, and people saw him as confident and successful. 
  • Find A Specialty.
  • Adjust And Perfect Your Strategy, Then Keep At It. Belfort came up with a strategy that worked for his target demographic, and he tweaked it until it worked perfectly.
  • Train People Well. He was able to train otherwise clueless people to sound like knowledgeable and experienced stock brokers.
  • Try, Try Again. Even Belfort managed to bankrupt his own small business before he went to Wall Street.
  • Provide A Solution. As Belfort himself explained, “At a certain point, one of the questions I always ask is, ‘What is your greatest headache right now?’” Find out how you can help your customers and then do exactly that.
  • Keep Employees Happy.
  • Take Your Time if you’re offered a deal and you’re hesitant.

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