This paper examines the multiple meanings and differing value that employees attach to ‘fun at work’ in a large call-centre. It utilises a phenomenological methodology to identify four components of fun at work: (1) ‘doing’ something exciting (2) a light-hearted expression of self (3) positive collegial relationships (4) best balanced with other rewards. The research findings have implications for individuals, human resource practitioners and managers who seek to make the most of a phenomenon that fascinates so many and seems to offer important organisational benefits.