Is Team Building A Good Return On Investment?
Most people seem to think that teambuilding is a waste of finances. A large part of the reason why they think that is because they seem to think that teambuilding is all about running around aimlessly on a wild goose chase.
When it boils down to it, return on investment is what you are looking for when investing in this area. How much does it cost, what will you get on the day and most importantly what return will you get from the activities after the day of the event?
To ensure that you get a good return on your investment, it's important to choose carefully. A lot of money spent on the wrong type of team event will be a waste and equally not enough money spent may also prove pointless.
So how do you go about deciding which is the right form for your company? Firstly decide what your objectives are. Ultimately your objectives will normally include increased profitability for your company and the link between bottom line profit margins and team building may seem initially a little vague but there is a strong link between the two.
The second question has to be what is stopping you from achieving increased profitability? It could be that everyone seems happy enough, that there is no immediate issue that you can pinpoint. It may be that you have a high turnover of staff, poor communication or low morale. This is when a tangible link between increased profitability and team building can be seen.
By selecting the right team building activity to address the issue that is stopping you from achieving increased profitability, you can see a direct return on investment. It may not be instantly obvious to you which type of team activity will address your issues, that's why talking to a professional and experienced team building company is essential.
It's then that you can outline your teams backgrounds, your objectives and what budget you have to work towards. It's then that the team building company can suggest effective and productive team building solutions for your company.
Effective team building doesn't have to be all about building a raft and getting across water, of course it can be if you'd like but as our business environment has become more sophisticated then so has team building solutions.
You have to capture their imagination, you have to engage them, to entertain them and to motivate them, make them feel that the event you have organized is worth them missing office time for and to do that you have to offer them an experience with a difference.
Team activities with a difference can span a huge range from cost effective options to top end, money's no object budgets. To the majority of clients, a budget has to be stuck to, so you need to have an activity that is tailored towards your team, a little company personalization will go a long way into reinforcing your group that you have arranged this event for them, they will feel valued and part of a caring team.
It's also vital that you include everyone, you are always going to get people on holiday or simply can't make it but do your research and pick an optimum time to suit everyone. It should go without saying but a good team is lead from the top and so therefore it makes sense to have your key members of management present.
All too often senior managers will be busy working rather than concentrating on their most important asset - their team!
When it boils down to it, return on investment is what you are looking for when investing in this area. How much does it cost, what will you get on the day and most importantly what return will you get from the activities after the day of the event?
To ensure that you get a good return on your investment, it's important to choose carefully. A lot of money spent on the wrong type of team event will be a waste and equally not enough money spent may also prove pointless.
So how do you go about deciding which is the right form for your company? Firstly decide what your objectives are. Ultimately your objectives will normally include increased profitability for your company and the link between bottom line profit margins and team building may seem initially a little vague but there is a strong link between the two.
The second question has to be what is stopping you from achieving increased profitability? It could be that everyone seems happy enough, that there is no immediate issue that you can pinpoint. It may be that you have a high turnover of staff, poor communication or low morale. This is when a tangible link between increased profitability and team building can be seen.
By selecting the right team building activity to address the issue that is stopping you from achieving increased profitability, you can see a direct return on investment. It may not be instantly obvious to you which type of team activity will address your issues, that's why talking to a professional and experienced team building company is essential.
It's then that you can outline your teams backgrounds, your objectives and what budget you have to work towards. It's then that the team building company can suggest effective and productive team building solutions for your company.
Effective team building doesn't have to be all about building a raft and getting across water, of course it can be if you'd like but as our business environment has become more sophisticated then so has team building solutions.
You have to capture their imagination, you have to engage them, to entertain them and to motivate them, make them feel that the event you have organized is worth them missing office time for and to do that you have to offer them an experience with a difference.
Team activities with a difference can span a huge range from cost effective options to top end, money's no object budgets. To the majority of clients, a budget has to be stuck to, so you need to have an activity that is tailored towards your team, a little company personalization will go a long way into reinforcing your group that you have arranged this event for them, they will feel valued and part of a caring team.
It's also vital that you include everyone, you are always going to get people on holiday or simply can't make it but do your research and pick an optimum time to suit everyone. It should go without saying but a good team is lead from the top and so therefore it makes sense to have your key members of management present.
All too often senior managers will be busy working rather than concentrating on their most important asset - their team!
So does team building offer a good return on investment? If you follow this advice, it could give you the best return on investment that you've ever seen!
posted by Yandaro @ 9:00 AM
13 Comments
13 Comments:
It depends. Why?
Because, the objectives and teambuidling execution must be right. Nothing is good without proper objectives and delivery.
Yes, teambuilding is a good investment if:
- the outcome/ result of the teambuilding is accomplished. for example: after the teambuilding, the employees able to communicate each other effectively, provide feedback and increase revenue to the company.
- company willing to invest on money for employees' development and to make team work together.
- it's done continuosly & consistently. Companies know what areas that they need to focus on every time they want to conduct a teambuilding.
All the information shared are great. However, if the management team do not take action to do follow up after the teambuilding, the issue which has been addressed in the teambuilding will still not be solved. Follow Up is a very important step to ensure your ROI.
most of the clients will ask - "will the people get better after the teambuilding?". well, this will depend on how the company function after the teambuilding. human issue will never resolve over night. we don't talk about meeting 100% objectives, if we can hit 50% of it. it will be good enough. people will slowly change their attitude and behaviour by influence not just by training itself.
Team is important same as we need a friend. investment on team building will improve the whole process in the organization.
yes it is a good ROI! You will not see it overnight, but it is a long term.
How to achieve it, team must know how to work together and understand each other.. how?
Organised team building.. how?
Call training touch.
team building is a toll to make the team get together.
the root is always from the company itself. if the company does not set a clear expectation and does not provide full support to providers, the team building will not have ROI.
Company expect one thing, people looking forward to another thing, service provider deliver another thing.
How to ensure the teambuilding is a good return on investment?
Agree with eb. Call Training Touch.
Training Touch is the specialist team events and adventure company that gets people wanting to work together, in order to achieve desired success by learning to play together.
We have team events and adventure solutions of every and any kind to meet your needs.
Good ROI is depending on the people in your company. Organising a Team Building is a good start to help make the relationship and teamwork between co-workers better. To sustain it, what you have learnt in the Team Building session must be apply in daily working environment.
The client has to clearly state the learning outcome and the vendor has to make sure the event is properly planned and executed. The ROI of Teambuilding will be good if the learning objective is met.
Team buildings sessions allows inter department communication and enhances teamwork and understanding of the organizations vision and goals.
Teambuilding is always good as a start for the company or people to appreciate teamworks. However, if nobody or the company did not do anything about it after the teambuilding, everything will go back to zero.
tell the vendor what you want, ask the vendor what they can provide and link it up together and discuss whether it will optimize the investment that you throw with the objective that you want. it does not stop there. after the team building event, the management need to follow up with the participants. if you dont know how, do a research on it.
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