A McKinsey study found that the average life span of companies listed on the S&P 500 was 61 years in 1958; today, it’s less than 18 years. McKinsey believes that by 2027, 75% of S&P 500 companies will have disappeared. New businesses have an 81% chance of surviving their first year; in two years, a little less than 70% of businesses are still standing. Only 25% make it to 15 years or more. There’s a clear long-term trend of declining corporate longevity, with this figure expected to fall further throughout the decade. That’s why reaching a major milestone can be a meaningful moment for everyone connected to your company’s success, not just those within your office’s four walls.
We celebrate special events, like birthdays and anniversaries, to show people we care about them, that their special day is worth celebrating. Why don’t we do that more often with company milestones? Anniversaries are no small feat, and you don’t reach these watershed moments without a lot of work. Whether you’re celebrating an important milestone like a company’s first year in business, a pattern’s 20th anniversary, or any other notable company milestone, do something meaningful to commemorate this red letter day.
Anniversaries are a great time for celebration and a terrific opportunity to reinforce your brand's purpose. To get the most out of the milestone, take a deliberate approach by planning special launches, in-store events, and promotional materials, thereby strengthening relationships with employees and customers. I love writing about milestones and anniversaries – short or long – in our pages. In this issue alone, we spotlight Godinger’s 50th year in business as well as Mikasa’s franchise designs, French Countryside, also celebrating 50 years, and Italian Countryside, a relative newcomer, with just 30 years under its belt. Also in this issue, we see a 32-year operation, DeVine Corp., change hands, so in effect, the new owners (a veteran trio to watch) are celebrating their first year in business.
................................ A company anniversary or a product milestone presents a valuable opportunity to celebrate your organization as well as build engagement, connection, belonging, and community for employees and customers.
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People love an anniversary; it’s a rite we can all relate to. They remind us of important events, personal and cultural. An anniversary puts a pin on the calendar to remind us of something that matters to us. And since the Supreme Court tells us corporations are people too, there are plenty of good reasons to celebrate a company anniversary: it unifies the operation and strengthens relationships with customers and employees. They can inspire and create cultural cohesion. You can also leverage them to increase sales, strengthen your brand, and reinforce purpose.
In our next issue, JUNE/JULY, we applaud Vista Alegre’s 200-year longevity with a comprehensive feature honoring this amazing anniversary. Milestones represent rare opportunities to reinforce an organization’s values, goals, culture, and brand over a sustained 12-month period. Celebrating a chronological landmark shows a proven track record and is a perfect excuse for a little back-patting.