Company milestones are acknowledgements and celebrations of hard work, that should not go unrecognized. Whether they reflect a long journey, a significant goal that’s been met or you’re saying goodbye to a founder, celebrating these achievements is the perfect way to reflect on how far the company has come. And, can serve as motivation for the next big move.
Of course, any day is a good day to thank your employees if it is still sincere and meaningful, but company milestones are especially important to acknowledge. Research reveals that employees who work in businesses with a culture of gratitude are more likely to be satisfied with their jobs overall.
According to a report commissioned by the Society for Human Resource Management and Globoforce, employee recognition has significant positive impacts across many areas within the company.
- 90% say it positively impacted engagement
- 86% say it increased employee happiness
- 84% say it improved work relationships
- 68% say it positively impacted retention
Not only are company celebrations a chance to have a great time together, but they can increase morale, motivation, professional relationships and collaboration. It seems like a win-win, right?
What company milestones should you celebrate
Different businesses value different milestones depending on the industry and the company culture. Good occasions to celebrate could include:
- Major anniversaries e.g. 1, 5, 15, 20, etc.
- Acquisition of another business
- Meeting a sales goal
- Retirement of a significant person/founder
- Opening a new location
- Successful funding
What milestones you celebrate will depend on what is important to your company and your individual culture. Listen to what your employees find important and what they are excited about or working hard towards. Find the balance of acknowledging important times within the company, without over saturating your staff with celebrations.
How to celebrate milestones
Whatever milestone you decide to celebrate, it’s always important to make sure the celebration is still meaningful. Reflect on the accomplishments and what you’d like to touch on, in terms of what steps it took to reach this point. Think about what you’d like to share with your team and then, of course, celebrate! Company wide celebrations boost morale and refresh everyone after what might have been a long and stressful journey.
So, we’ve gone over why it’s important for staff to celebrate milestones, but did you know there can be a positive impact on your customers too? It’s always meaningful to let your customers know you appreciate them. After all, 40% of a company’s revenue comes from repeat customers and 68% of customers decide to leave a company if they feel they don’t care about them. Milestones are the perfect chance to not only thank customers and shareholders but interest potential new customers with an online campaign.
Celebrate by offering customers a discount, or by thanking them for their loyalty to your company. This study shows 85% of customers say they are more likely to be loyal to a business when they are being transparent and honest.
Milestone celebration ideas
Treat your team
A fun way to say thank you to your team is to treat them to a delicious staff lunch, Friday night drinks or even some tasty cupcakes. This study actually found that the staff appreciated pizza more than monetary incentives. So not only is that an easy way to celebrate, but it certainly works out cheaper. If you already provide your team with regular catering, make the day extra special by providing some delicious dessert or treats. Get creative with what you can offer and make it a real treat.
A meaningful gift
Gifts like hampers, baskets, gadgets, gift cards, and vouchers are always appreciated by staff. Or if you are able to, you can even offer a paid day off. This would be particularly beneficial around the holiday season. It doesn’t have to cost a lot to be meaningful, but get creative and see what would work best for your employees and your company.
Say thank you
Sometimes the simplest way to show your appreciation for your staff is to just say thank you and mean it. Whether you call everyone together to make a quick speech, or cheers to everyone’s success at staff drinks, saying thank you can leave an impact on staff the most. Let them know you appreciate their hard work and efforts, and you recognize the journey they have taken.
Throw a party
Bring your company together for a shindig! Order some delicious catering, get some drinks delivered and plan a fun party to celebrate your milestone as a team. This is especially good for company anniversaries, retirements or the celebration of a big achievement. Take the opportunity to get everyone excited for the future and even unveil new plans or projects while everyone is feeling positive.
Publicize your milestone
This is a fun and inexpensive way to share news of your milestone with customers and employees. You can create a fun online campaign for social media or share the celebration on your website! There are plenty of avenues you can take when planning to publicize your milestone including:
- Write a press release sharing your company’s stories
- Release an eBook or limited-edition print book detailing your company’s history
- Write a blog post series about the milestone
- Create a landing page for your website; you can even include a timeline highlighting your company’s history
If you want to keep morale high on a consistent basis, why not organize a weekly or fortnightly staff drinks. When 5 pm rolls around on a Friday, pass around some beers and wine, graze on snacks and talk about everything you’ve achieved that week. The small achievements are the ones that make up the big finish!
You don’t need to have a huge budget to celebrate milestones, but the effort you put into acknowledging them will show you excellent benefits. From allowing staff to feel appreciated, seen and recognized, you are increasing the motivation to tackle the next big thing. Don’t let your company’s achievements and milestones pass you by. Take the opportunity to enjoy the victories and celebrate them for years to come.