Company milestones exist in every industry, at any level of business. But not everyone sees the value in them.
Some people wonder if there’s a point in celebrating work and company anniversaries. Others frown at all the “fuss” when a company reaches its 100th client or achieves the 20th sale of the day.
In this article, we’ll deconstruct the reasons why they are worth celebrating and the top six company milestones you shouldn’t miss commemorating!
Employees thrive on recognition. It’s one of their biggest motivators.
The milestone doesn’t have to be particularly significant, but if it demonstrates the kind of behaviour you want your employees to exhibit, then celebrating it would make a good positive reinforcement.
Once your business achieves a milestone, ask yourself these questions: what steps did you take to get there? What should you do to continue the momentum?
Milestones are an opportunity to reflect if you need to change, improve, or tweak your planning processes. Is there anything you think you should have done differently? This is also the time to determine what your next goals should be.
Down the road, you’ll realize that some milestones are worth celebrating more than others.
For example, celebrating being in business every couple of months is nice, but it could also make everyone feel like you’re in “survival mode” and have just barely made it. So choosing the right milestone to celebrate is as important as the celebration itself.
So, which company milestones should you celebrate? Here are six of them:
Company anniversaries are one of the most commonly celebrated company milestones. It’s a chance to acknowledge a shared history and strengthen your bond with your team.
Celebrating these types of milestones helps everyone shift their focus from challenges to achievements. Most importantly, it’s your chance to thank everyone for contributing to the company’s success.
A good rule of thumb is to celebrate the fifth, 10th, 25th, and 50th years of being in business. You can also celebrate in multiples of ten years after the first five years to make the milestone feel significant.
Another milestone worth celebrating is the work anniversary of the people who are employed at your organization.
Should you give everyone a big party then? Not really. But a small gift or a sincere congratulatory email will make them feel seen and valued, which will then encourage them to perform even better.
Did you reach your revenue goals this year? Were previous revenue goals substantially exceeded? If you achieved these kinds of milestones, then it calls for a big celebration!
But that’s not all you should do. Make sure you let the world know about these company milestones too—post about them on social media, create and share celebration videos, write a press release about it, and announce them in your company newsletter. Doing so will help increase the popularity of your brand and possibly attract investors searching for promising organizations.
The success of any organization often depends on the performance of its core teams. Did a particular team go above and beyond to deliver results?
Sharing the impact of what they’ve done with the rest of the organization is a great way to recognize their efforts. You can even start an “Outstanding Performance Awards” competition as a fun way to encourage everyone to produce incredible results. Don’t forget to hand out prizes for the winners!
Have you recently concluded a long and challenging project? Maybe your company completed a successful outreach program, or you just launched a brand new app.
Whatever the project is, if it’s finally complete after several months or maybe years of arduous work, it’s time to celebrate. Focus on the people who made the project happen and highlight what the project means for the company. Also, touch on the impact it has on your consumers and clients.
Celebrating company-wide milestones is a great way to keep the collective spirit up. But recognizing individual achievements keeps everyone motivated and gives you a chance to build a personal connection with each of them.
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Company milestones are markers of a business’s development and growth. Every accomplishment—no matter how small—is a step that will bring the company closer to its goals.
But more importantly, company milestones are about celebrating relationships with people that help make your business a success.
If you’re looking for the perfect space to celebrate milestones, look no further than The Loft on King. Located in the heart of King West, we provide a unique venue complete with exclusive catering, bar service, lighting, and audio/visual features to make milestone celebrations truly memorable.
Get in touch with us today for more information or to book an event.