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The ROI of Team Building: Unveiling Impact with Key Statistics

There are various ways to improve employee engagement. One of the best is team building. This article will explore the benefits of team building. You'll also learn how to select team building activities that align with your workplace needs.

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According to Gallup, just 32% of American workers feel enthusiastic about their jobs. That's not ideal, as full-time employees spend more time at their jobs than they do with their families and friends.

There are various ways to improve employee engagement. One of the best is team building. Let's explore the benefits of team building and learn how to choose team building activities that align with your workplace needs.

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Why is team building important? ๐Ÿ’ก

Team building helps strengthen and solidify working relationships. Instead of focusing solely on work duties, your team will take time to learn about each other. Positive interactions help them to develop trust and improve employee connectedness. In short, you'll find you have a more close-knit team.

The more you include team building activities, the more likely you will see the benefits. The occasional one-off group activity isn't likely to be as effective as monthly or weekly ones are.

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The role of effective team building in enhancing employee collaboration ๐Ÿ’ช

How can a team building activity benefit your company culture? There are quite a few advantages they provide.

โ€Fostering a positive work culture and employee engagement ๐Ÿ‘ช

A negative work environment is one of the top reasons people leave a job. Distrust and divisions between team members are stressful. There's only so much employees can take until they shut down and look for another job.

Managers who ignore problems are likely to see high rates of employee turnover. While a single team building event isn't going to turn the tide, multiple ones may.

To make your office enjoyable, make team building a vital part of the work culture. You'll likely see more job satisfaction, team spirit, and conflict resolution among your employees.

Free Ebook, Navigating the Workplace Revolution: Company Culture in a Distributed Workforce. Download the eBok.

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Enhancing productivity and problem-solving abilities through team building ๐Ÿง 

Are you noticing a drop in productivity in the office? Are people often calling in sick or leaving early? Do they spend a lot of time at their desks but fail to produce anything more than what their primary responsibilities call for?

If so, team building exercises can help. You can bring back the excitement to your employee's work through fun and challenging activities. Escape room quests, trivia challenges, and physical activities are all options your team can enjoy.

Through the right mix of activities, employee productivity will skyrocket. ๐Ÿš€

Team Building Statistics: Virtual Team Building by Confetti

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Improving communication and interpersonal relationships within teams ๐Ÿ’ฌ

Think back to your younger years in school. Entering a new classroom was scary, especially if you didn't know anyone. Unless you made friends, you were in for a lonely year.

The same logic applies to the workplace. People are social creatures. They want to know the people around them. When they feel connected to their colleagues, you'll see laughter and chatter around the office. It won't be quiet and full of tension.

You can encourage workers to develop relationships with their colleagues through team building activities. As they become more comfortable spending time together, communication improves! You'll find you don't need to push your team members to share ideas or ask questions. They'll take the initiative themselves.

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Unveiling the impact of team building through ROI ๐Ÿงพ

The cost of team building activities is often a turn-off to employers. Organizations on a budget may find it hard to justify the expense. However, team building activities have a positive ROI.

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Understanding ROI in the context of team building activities ๐Ÿ“Š

The ROI you receive from team building is variable. It will depend on the activities you choose and your objectives. Most companies don't take an 'anything goes' approach to team building. Instead, they set specific goals and select activities to achieve them.

For example, consider a remote team spread across the country. There is no office, so getting employees together in person isn't easy. As a result, most team members spend little time communicating together. Instead, they work in silos.

An activity facilitating communication, like a game or virtual happy hour, could be beneficial. Afterward, managers might note an increase in conversations among their teams.

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Key metrics to evaluate team building success ๐Ÿ“‰

There are several ways you can measure the ROI from your team building activities.

1. Employee retention and reduced turnover rates ๐Ÿค

If you notice an increase in employee turnover, you'll want to take action quickly. Frequently losing employees is costly. You'll need to find a replacement and train them. You may also notice a drop in employee morale.

Team building activities can help you reduce turnover rates. Evaluate employee turnover as you implement more team building exercises. If you see a decrease, your efforts are working.

2. Increase in team performance and efficiency โš™๏ธ

Another way to evaluate the ROI of team building activities is workplace efficiency. People who enjoy their work environment put effort into their jobs. They won't leave important tasks to the last minute. Instead, they'll improve their processes. You won't need to worry about missed deadlines.

3. Innovation and creativity in problem-solving ๐Ÿง 

Some departments, like engineering and marketing, require creativity and innovation. Team building activities can help reignite originality in the workplace. You should see an increase in fresh ideas after the event.

4. Stress reduction and improved employee well-being ๐Ÿง˜

Strict deadlines and work overload can lead to burnout. Burned-out employees won't perform their best. After a team building wellness activity, you should notice less stress in the office.

5. Customer satisfaction ๐Ÿ˜€

Keeping your customers satisfied is critical. If they're unhappy with your company, they'll leave for your competitors, increasing the risk of customer churn. Monitor customer satisfaction after your team building activities. You'll likely notice an increase in their happiness with your organization.

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Real-life examples of the ROI of team building initiatives ๐Ÿคธโ€โ™€๏ธ

Team building activities help your employees get to know each other more personally, which has a major impact on a teamโ€™s success.ย 

A study by the Kenexa Research Institute discovered that 50% of the positive changes in communication can be attributed to social interactions outside of work-related matters, which include team building activities.ย ย 

According to PGi, frequent workplace collaboration boosts successful innovation, which is also known to boost productivity and business growth, by 15%.

Reports by Gallup show that for the first time in recent years, levels of employee engagement have seen a significant decrease, with only 36% feeling engaged and 51% feeling disengaged. Team building activities are a great way to boost employee engagement.ย 

After booking hybrid team building experiences with Confetti, the Goodway Group reported โ€œWe definitely saw an improvement in employee engagement. Teams were able to engage and explore, whether it was in the art class or cooking class.โ€ย 

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More Compelling Team Building Statistics ๐Ÿค”

Looking for a few more reasons to try team building activities? Look at these statistics:

How to choose the right team building activities for your organization

Consider these steps to get the most out of your team building activities.

1. Identifying the unique needs and challenges of your team ๐Ÿ”Ž

Every team is different. The activities you choose should directly address the problems you see in your workplace.

For instance, remote employees don't usually see each other in person. They may live far away, in other states or countries. Lack of communication in remote work can lead to isolation. Instead of collaborating to solve problems, they'll work independently.

Virtual team building activities can strengthen bonds within virtual teams and help people get to know one another. Virtual happy hours can improve communication among different departments.

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2. Selecting suitable team building activities for various team sizes ๐Ÿงฉ

Not all team building activities are suitable for every group. For instance, a company-wide volunteer activity may lead to a more positive work environment. However, to strengthen bonds in a single department, you'll want to hold an event just for them.

You can try a mix of team building activities. You might hold several annual company events. You can add in bi-weekly department functions. As people get to know each other, you should see positive changes.

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3. Creating a team building action plan: steps and best practices ๐Ÿ“

  1. Start your efforts with an employee engagement survey. A survey helps you understand how people feel about your workplace now. The information will tell you where you need to make improvements.
  2. Next, set your objectives. It's best to start with one or two goals. You'll also want to determine how much you can afford for team building events.
  3. Choose a few activities you think will help you reach your goals. It's best to spread the events over several months. That way, employees have a chance to reflect on their experience. They'll also get an opportunity to deepen new friendships.
  4. At the six-month point, ask employees to complete another engagement survey. Compare the results against your benchmarks. You should see an improvement in your metrics.

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To get the most from team building, set goals ๐ŸŽ‰

Team building is critical to organizations. You can improve your company's culture with a few fun activities and healthy competition. You'll see happier employees and less turnover. To ensure that you get the most from your events, set goals. Ask employees to complete an engagement survey. Use the results to compare how they feel after a few activities.

Remember, when employees feel accepted, they're less likely to leave. Over the long term, regular events can help improve the company culture and attract more job seekers.

Give your team the spark they need to boost productivity. Explore Confetti's team building experiences today!
Book your Team Building event with Confetti! Book Now!

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