Credit Crunch Solutions For Corporate Events

The credit crunch has had a far reaching effect across almost all sectors of the business world. This has left employers facing a difficult problem: How do you maintain the morale and loyalty of your workforce whilst also keeping costs to a minimum and also satisfying the 'green police' who look over all aspects of corporate spending and frown when extra costs on things like travel are expended?

Is it worth it?

In almost all areas of life, it is remarkable how much difference a little perk or benefit can result in a much greater return of loyalty than the item actually cost to give.

When times are hard however it is all too easy to cut back on these little extras without realising the knock on effect it could be having.

Holding back on the perks means that employees can expect little reward for their hard work and diligence.

Interestingly, there are many companies also using the excuse of the credit crunch to cut back on perks but not necessarily to save money. Banks have been well known to cut perks to give employees the impression the company is under financial pressure. The theory is that this leads the employee to work harder to ensure that their salary is more secure.

With a little creativity however a company can beat the credit crunch and still enjoy the perks they were used to.

What are the options?

Traditionally companies have shied away from expensive but short lived events such as:

• Days out at Ascot, Wimbledon, Henley Regatta, Premiership Football


• Corporate golf days / motorsports


• Executive yacht charter

All of which carry a certain exclusivity but offer very little in the way of team building opportunities or event 'bonding'.

Because of the dramatic change in the tourism market, new opportunities for longer, more effective corporate events have sprung up with hotel and chalet operators across the European continent especially in France, Switzerland and Italy.

Luxury accommodation has become affordable due to the demand having shrunk. This has enabled operators like Ten80 Events to offer week long fully serviced 5 star trips for a fraction of what it would have cost before the credit crunch hit.

"Our customers are increasingly aware that the standards have risen and the costs fallen and the availability of offers is like nothing they have experienced before" says Alistair Slinn of Ten80 Events.

Companies are also taking advantage of the opportunity to run a corporate event during the winter months thereby avoiding competition with the increased domestic travel experienced during the summer months.