The Resurrection of the Corporate Retreat

CHICAGO - Oct. 29, 2014 - PRLog -- The Resurrection of the Corporate Retreat

Five years ago, it appeared that the corporate retreat had gone the way of the dodo bird.  While it is true that we live in an ever-changing world in which business practices come and go over time, the near death experience of the corporate retreat is somewhat unique.  Unlike dial-up internet access or floppy discs, the corporate retreat was not replaced through improved technology.  No one has built a better mousetrap sending the annual off-site event to the scrap yard.  So, what happened?

One theory is that the dagger stuck into the corporate retreat’s heart had come from the economy.  After all, when businesses were struggling to pay employees and keep inventory on the shelves, sacrificing the annual corporate retreat often meant saving tens of thousands of dollars. But corporate retreats did not suffer a mere setback due to a struggling economy.  They were exiled from Corporate America.

To better understand why, let’s go back to the year 2008.  After receiving federal bailout money, AIG executives allegedly decided to treat themselves to a lavish corporate retreat with a price tag of around a half million dollars.  When word of AIG’s abuse of American tax dollars was leaked, public outrage ensued.  From that moment, corporate retreats were synonymous with corruption and the mere mention of an executive retreat lead to a PR nightmare.  In all practicality, the corporate retreat suffered a nearly fatal blow at the hands of AIG and public perception.

Today, corporate retreats have largely reclaimed their pre-AIG status. Starting back in 2011, they began gaining momentum through the depressed state of the hospitality and travel industries as hotel and airfare prices had been slashed.  This resulted in a sudden shift in public perception and corporate retreats were once again considered a budget-friendly investment.  However, just as the economic factors were not responsible for the downfall, they cannot be given credit for the revival. The corporate retreat rebounded because it serves the needs of businesses.

“Retreats have survived because they are a powerful investment.” says Ron Van Sessen, who along with his wife, Kimberly, own and operate Inspiration Wood, a cottage inn & conference center in Indiana that specializes in executive retreats.  “Once businesses understand what the retreat experience brings to them, they are able to invest with confidence.”

Van Sessen has been on both sides of the retreat experience.  Prior to becoming a professional in the retreat industry, he spent 10 years as a business banker and served on several community boards and committees.  Over the years, he participated in dozens of retreats.  Van Sessen commented, “I have experienced both ends of the spectrum.  Some of the retreats I attended were life changing.  Others, I spent staring at the door trying to figure out my escape.”

Despite the fact that some of the retreats he attended were not up to par, Van Sessen is an advocate for corporate retreats and the dividends that they pay.  “The dollars that companies invest into corporate retreats are not the primary investment.” Van Sessen states.  “The real investment is in company time.  When businesses master the ability to invest their retreat time wisely, the return on their investment, in time and in revenue, is extensive.

“Another major benefit is that retreats create ‘an environment for connection.’  Retreats by nature open pathways for team members to connect with one another in a variety of ways; spiritually, personally, professionally, etc.  Because retreat participants spend time working, learning, eating, and relaxing together, all of these pathways are opened at once resulting in deeper connections in a very short period of time.  It is these connections that bring about corporate unity.  This is the true power of the corporate retreat.”

As corporate retreats continue to rebound in post-recession America, they are being reshaped as investment tools with measureable returns.  The corporate waste of the past has been cut away.  Today, corporate retreats are not used as rewards or bonuses for reaching sales goals or for celebrating a great year end.  Corporate retreats are the tools that made it happen.  Rather than the dodo bird, perhaps the corporate retreat is more like the American bison; A once powerful presence brought back from near distinction to once again take its rightful place in the world.