What Should My Company’s Retreat Budget Be?

Company retreats can cost a lot of money, but they are often worth the cost because they improve teamwork and culture.

Solid financial planning can help a business of any size host a fun, engaging event without spending too much on the retreat.

What Should My Company’s Retreat Budget Be?

Before making a budget, you should think about what your company can actually afford. Don’t spread your business so thin that if you spend too much, it could fail.

Then, think about what your team wants out of a retreat, and divide up the budget to pay for each of those things.

For example, you might spend 35% of the budget on the venue, 25% on food and drinks, 25% on team-building activities, and 15% on other costs, such as transportation and team swag.

If you don’t know where to start, follow the “quarter rule,” which says that you should spend 25% of your budget on each of the four main parts: lodging, transportation, food and drinks, and activities.

How to Optimize Your Company Retreat Spending?

Comments are closed.