Finance News & Insights

Increase revenue and boost engagement with a post-year-end celebration

Your finance team can finally breathe a sigh of relief knowing year-end duties are slowing down.

But before diving into the next big thing, do you take time to acknowledge all the hard work A/P and Payroll staffers just put in?

If you haven’t in the past, 2019’s the year to start. And even if you have, maybe 2019’s the year you take it up a notch.

Why celebrate?

Setting aside just a little time to celebrate and recognize your team can have major, long-term benefits.

In fact, companies that prioritize employee recognition are more likely to see:

  • increased revenue
  • growth in team size
  • highly engaged employees, and
  • innovation and great work performance.

That’s according to new research from global recognition and engagement company O.C. Tanner.

So, round up your staffers! It’s time to celebrate the completion of year-end.

3 ways to go

What kind of celebration you choose will likely depend on your company’s size, resources and capabilities. Here are three options to consider:

1. No cost: The heartfelt huddle. Don’t have the time or money to make a huge to-do? That’s OK.

Ask your team to gather for a short meeting where you and other leaders (controller, A/P manager, Payroll manager, etc.) can thank everyone for their hard work. You may even want to point out specific staffers who went above and beyond, worked extra hours, stepped up as leaders, etc.

Bonus: If your CEO can stop by, that can show staffers their hard work is appreciated all the way up the ladder and make them feel more connected to your company as a whole.

2. Low cost: The potluck lunch. This one won’t require dipping heavily into company funds – and will leave everyone feeling happy and full. Ask each staffer to bring in a potluck dish to share and have the company provide desserts. Line up the spread and dig in!

Some finance departments add a little friendly competition after their lunch with games like charades or trivia. (And that won’t cost a dime.)

Staffers will appreciate the great food spread and chance to relax, rejuvenate and bond as a team.

3. Modest splurge: The group outing. If there’s money in the budget to do a team outing, organize a restaurant lunch or an event like bowling or go-carting.

When deciding what kind of event is best, it can help to take a big-picture look at your team and/or gather insight from managers on their staffers’ interests and preferences.

Not only does an outing show your team that you appreciate them, it gets everyone away from the office and into a social environment. It may even spur more camaraderie between A/P staffers and Payroll staffers who otherwise might not interact too often.

Want to go above and beyond? Some companies give staffers the rest of the afternoon off after their post-year-end lunch or outing. And that’s something every staffer – from your bright-eyed millennials to your seasoned veterans – will really appreciate.

 

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