May 18, 2024

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Business and entertainment?  The trend that permeates the labor market

Business and entertainment? The trend that permeates the labor market

Bloomberg Linya – The world of work has changed and the post-coronavirus (COVID-19) era has modified the dynamics of work, business meetings and even the places where they are held. This is how the “new normal”, driven by digitalization and agility, is going. They have caused the combination of traditional face-to-face business models to carry out these activities from anywhere in the world.

New trends have upended paradigms, and businesses are now closed anywhere in the world, even as their participants discover new places.

This is how the international term was coinedfun“, Combining work (business) and leisure (leisure), Which leads to the activity of taking advantage of the business trip to add an element of fun and enjoyment of tourist or recreational activities in the destination being visited, once work obligations are completed.

“From retaining talent, and providing employees with the opportunity to enjoy free time during business trips, Job satisfaction can be improved by identifying it as an added benefit or highly valued emotional payoff“Generating more motivation and productivity and increasing their level of commitment to the organization,” explained Luz Angela Potts, Branch Manager of Adecco Colombia.

he Global leisure travel market, Its value in 2022 was estimated at 315.3 billion US dollars By signature Research and markets, Which also predicted that this trend will witness significant growth and reach 731.4 billion US dollars in 2032, At a compound annual growth rate of 8.9% from 2023 to 2032.

“This growth is driven by changing boundaries between work and personal life, driving business travellers Combining business travel with leisure experiences“According to the report Travel Pleasure Market By Employee, By Age Group, By Industries: Global Opportunity Analysis and Industry Forecast, 2023-2032.

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This was highlighted by a survey conducted by Banyan Company 76% of business travelers have already combined leisure travel with a business trip at least once during their career. An average business trip takes 3.8 days, according to SmallBizTrends.

Who has “fun” more often?

Potts explained that this practice is common in the world among those who have jobs that require travel for business reasons. Among them are executives and professionals from multinational or national companies who have to attend business meetings, conferences or training.

But over time, its scope has also been expanded to include entrepreneurs participating in trade shows or investor meetings; Freelancers and remote workers; Lecturers, speakers and presenters who participate in meetings or talks.

The figures also indicate that 81% of business travelers take some variety of “leisure” trips 61% of travelers include recreational activities in their itinerary, While 41% extend their stay to make time for their business trip, according to travelperk.

“This commercial tourism, in addition, Designed for high-income people“Those who enjoy it will therefore have an easier time spending money on their trips, which is a real advantage for their destinations,” the Spanish school ESIC highlighted, in an article.

How to implement “fun” in Latin American companies!

Adecco’s expert pointed out the following points:

  • Include it in your wellness plans: It requires careful planning and implementation of appropriate policies and procedures.
  • Set clear conditions: Such as who is eligible to participate, and what activities and expenses are covered. The policy should be clear about when free time is allowed, how entertainment-related expenses will be reimbursed, and any other important details.
  • Communicate effectively with employees: All employees should understand the details of the program, how to apply for and be approved, and what the expectations are during business travel.
  • Get flexible hours: For pleasure to be perceived as a benefit, the organization must allow employees to have free time. This may mean scheduling meetings or work activities in a way that does not conflict with your rest schedule, or, if possible, allowing collaborators to have extra days before or after performing that activity.
  • Monitoring and evaluation: As Peter Drucker says, “What cannot be measured cannot be improved”, so it is necessary to evaluate and monitor the operation of this policy, collect feedback from employees, and thus adjust what is necessary in order to ensure its effectiveness and compliance.
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In conclusion, “Entertainment has become a global strategy and trend because it is in line with the trend of balance between personal life and work. Management to reduce stress, improve employees’ quality of life, while motivating them to fulfill their work responsibilities.