Corporate Team Building: HOW TEAM BUILDING AFFECTS THE BOTTOM LINE

Corporate Team Building: HOW TEAM BUILDING AFFECTS THE BOTTOM LINE

As employers and business owners, we all like to think that our company provides a positive and motivating environment for the people we employ. But how do we actually ensure this is the case? Think Corporate Team Building.

It is no secret that improving workplace morale costs time and money, however, we also know that we need to spend money to make money. Spending time and money on workplace morale needs to be viewed as an investment. Employees are a bit like a garden. You need to regularly water and feed that garden in order to ensure it grows and prospers and that the tiny seedlings evolve into knowledgeable and wise trees.

Doing so will provide you with a greater return on your investment with the benefits being improved products, services and ultimately profit. Therefore spending time and money on improving workplace morale is an investment in your most expensive asset that provides a service to your customers, is innovative enough to create new products and if really committed and motivated, will help to drive your business forward to its next level of success. Think Corporate Team Building.

Every employer should have a retention strategy that aims to help reduce employee turnover and retain employees for the long term. Imagine if you could have a retention strategy that was able to reduce employee resignations by 10% per annum? Businesses would save hundreds of thousands of dollars.

Amongst the areas that might be considered as part of the retention strategy should be the onboarding process and providing the new employee with a mentor to refer to throughout this process, a competitive remuneration, compensation and benefits package, a recognition and rewards system that provides innovative ways to say thank you, a career development program and team-centered plans. Think Corporate Team Building.

Corporate Team Building plans and strategies will help to build a culture of collaboration where members will be openly aware of each others’ strengths and work with these to achieve the goals and objectives required.

Of course, all of the above areas are important as these build on each other to help reduce employee turnover but it is what we decide to do to maintain the retention strategy that is vital to the continued performance and success of a team. Bruce Tuckman found that a team has four stages of formation, which are forming, storming, norming and performing.

Once that last stage is achieved, it is important not to lose focus but to seize the opportunity to take the team to the next level through quarterly Corporate Team Building activities. These can target particular values including trust, communication, conflict resolution or leadership and will only work to enhance the relationship that already exists within the team.

Teamwork is fostered by respecting, encouraging, enthusing and caring for people. Corporate Team Building activities will help to continue to build on these behaviours. Anything is possible with a little help from your friends here at Urban Quest, who are well versed in successful Corporate Team Building.