How to Manage Employee Compensation for Company Retreats Without Overspending

So, here’s the question I want to tackle today:

We’re planning our first company retreat, and I’m wondering how to handle employee compensation.

First, let me say that I’m a big fan of agency retreats. There are few things as effective at improving team unity and aligning everyone with your agency’s goals.

Second, successful retreats are about finding the sweet spot between motivating your team and managing the costs effectively.

How much should you budget?

A good rule of thumb is to budget between $2,000 and $2,500 per person for your retreat. This budget will dictate where you can go, the activities you can plan, and the overall length of your stay. Aim to keep the retreat to around three days — long enough to make a meaningful impact but not so long that people start getting tired of each other.

Manage Big Costs Internally

Cover major expenses like airline travel (if necessary) and lodging directly through your company. This keeps control over significant costs and simplifies planning. For smaller expenses, consider reimbursement unless employees have a company…