Team Building & Office Parties: Worth the Cost?

"Despite its reputation for being, well, lame, team building is the most important investment you can make for your people."

- Brian Scudamore, Forbes

While the worth of team building is challenged, the undeniable benefits for the company are building trust, internal communication enhancement, and creating a productive, collaborative culture.

Read along to learn the statistical proof of the team building ROI.

Team Building ROI

Team building offers several benefits to the company:

• Building collaborative culture

• Enhanced trust within teams

• Improved communication

• Rise in productivity

• Reduced turnover

Data proves that these factors influence overall success for the company:

• A fully engaged talent base can double revenue.

• Companies that invest in creating a collaborative culture are 4.5 times less likely to lose their top employees (Teamstage).

• Up to 86% of executives believe insufficient collaboration plays a major role in the company’s failure (Teamstage).

• More than 50% of employees stayed in the company because they felt an essential part of the team (Teamstage).

• 78% of talent prefer to work for companies that support a collaborative work culture (Gomada).

While team building and office parties, alone, may not be the only solution, they are a worth-while investment, supporting the company’s overall success.

Our ‘Eyes On Production’ survey provides the ability to benchmark your progress as well as guide you in building a collaborative culture that centres around satisfied and productive talent.

The survey also ...

• Presents data-driven solutions for successful implementation of DE&I initiatives

• Provides a general overview of industry standards

• Brings actionable insights from collected data

***This is advice only. Always ask a consultant.