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Finance Industry News

3 reasons companies should invest in teambuilding


3 reasons companies should invest in teambuilding


"Any organisation will benefit from an engaged workforce"
Mark Jones



Many companies overlook the importance of team building in the workplace and then become worried that their employees and management teams are failing to work effectively with one another. Organising a team-building activity outside of the office could make for a great solution, resulting in productive, efficient, motivated and all-round happy staff members throughout your business.

 

Here are three top reasons to motivate you into including teambuilding as a key component of your business plan:

 

1.     It promotes engagement

Mark Jones, the managing director of conference centre and hotel venue Wyboston Lakes, was also keen to add: “Any organisation will benefit from an engaged workforce; employees that are committed, passionate and inspired by their performance will of course generate superior customer service and increased profitability.”

Were you aware that employees who have a high engagement level are 87 per cent less likely to leave a company than those who have a low engagement level? This has been revealed by Officevibe when they were looking into statistics related to disengaged employees.

 

2.      It enhances communication

A survey by ClearCompany reported that a lack of collaboration or ineffective communication has been linked 86 per cent of all workplace failures. A study by HerdWisdom also stated that 33 per cent of employees believe a lack of open and honest communication will have the most negative impact on employee morale.

Enhancing communication is an important part of team-building events, as members of a group must talk and discuss options in order to solve a problem that they’ve encountered. Communicating in these scenarios could lead to barriers been broken — employees being shy to talk to each other for instance — which then carries through when staff members are back in the workplace.

 

3.      It inspires teamwork!

Almost three quarters (70 per cent) of respondents to a study set up by the University of Phoenix have stated that they feel they’re part of a dysfunctional team. Meanwhile, research by Gallup suggests that poorly managed work groups are on average 50 per cent less productive and 44 per cent less profitable.

Facts and figures like these underline the importance of getting teams to work together as much as possible. Team-building events will do this, as they teach participants about how working together will improve the efficiency of all members involved –  for example, how one team member can help another one’s weakness.

Sources

·        http://www.totalteambuilding.com.au/the-positive-impact-of-team-building/

·        http://govitru.com/workplace-statistics/

·        https://www.corporatechallenge.com.au/blog/12-benefits-team-building-2016

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