How the Coronavirus is Affecting the Corporate Team Events Industry
Last updated – “09/03/2020”
The Impact on Corporate Team Events
Funktion Events is one of the top agencies for team events. The company delivers over 500 events across the UK every year for a variety of businesses and FTSE 100 companies.
In regards to the impact of the Coronavirus, within the first week of March 2020 we have had 5 businesses, mainly global and multinational companies, cancel or try to postpone their corporate away day. The main reason has been that their company have introduced a policy of restricted travel which also includes the UK.
This is a distinctive decision that these companies have made, even though;
- UK Health Officials have not set ANY travel bans for the UK
- Prime Minister Boris Johnson & the Government’s scientific advisory group for Emergencies (SAGE) has stated closing schools and stopping big gatherings “don’t work as well perhaps as people think in stopping the spread”
- Travel insurance and awareness companies such as trusted ABTA have also made it clear that, at this point, holidays and other travel doesn’t need to be suspended when visiting the majority of countries.
Are Businesses Postponing Future Events?
Based across all our statistics, we’re now seeing a 10% decrease in enquiries in March 2020 compared to the previous year as some businesses are uncertain on their positions.
From our stats on when corporate events take place, you’ll see Q2 & Q3 are the busiest periods. However most events are booked weeks in advance so what happens right now in Q1 effects the future quarters.
Funktion Events, Managing Director Jay Broughton
"It’s looking as if we’ll see a possible lull for corporate team events in quarter 2. However, once things start returning to normal, from experience I believe companies will want to invest even more in their staff to improve morale and team bonding”
What is the Coronavirus?
The Coronavirus is a new illness that’s causes the COVID-19 disease to affect your lungs and airways. For more information about symptoms and severity, visit the websites below.
NHS Official Website - https://www.nhs.uk/conditions/coronavirus-covid-19/
UK Government Website - https://www.gov.uk/coronavirus
Will Employee Motivation & Morale be Affected?
It’s likely that self-isolating at home will be introduced which could decrease overall spirit and cohesion. However, the government may decide that this is best way to reduce the spread of the coronavirus. If companies decide to ask their employees to work from home, consider how this will affect morale.
A major consideration for companies is how cancelling the events will affect their employees. The people are an organisations best resource, and team building days are vital to keep everyone motivated and morale high. The motivation of staff may be less wavered if the event is pushed back as it still provides an incentive to work towards.
The Forecast for the Future
No one knows the future of the Coronavirus, however it’s every company’s responsibility to keep up to date and informed from the government. Despite the fear of this virus, it’s encouraging to see that the UK Health Officials are on top of the disease and constantly reviewing the situation.
Maybe virtual team activities will be the answer as more and more people move to remote working. Lets wait and see what happens.