“Team building. What a load of hippie New Age nonsense, right? Trust falls, drum circles, mandatory ‘retreats’ – nobody ever learns anything at these events!”
Sound familiar? You might have heard something similar from colleagues, partners, supervisors, or even coming out of your own mouth. While on some levels you might be correct – there are a lot of truly awful team building activities out there – the truth is that a company that doesn’t engage in effective team building exercises runs the risk of some major issues.
Here’s what you need to know about the cost of not engaging in team building activities.
Effective Team Building Builds Productivity
If you think team building is all about participating in goofy “icebreaker” games and singing songs around a campfire, you’re missing the point. The myth of team building being useless – perpetuated by ineffective games like the ones described above – is blinding you to the benefits that real team building brings to an organization.
Truly effective team building events are about showcasing the merits of collaboration and cooperation. A team needs to be more than just a group of individuals assigned to complete a project together – it needs to be a fully functioning, self-supporting unit, as doing so unlocks potential productivity that would otherwise be unattainable. How is this accomplished? By driving employee engagement.
Engage the Truth
One of the most well-researched aspects of work productivity (or the lack thereof) is employee engagement. A relatively hard-to-quantify factor, “engagement” is best expressed by how dedicated and passionate your workers are, and there has long been a correlation between high engagement and better productivity. In fact, engaged workforces have been found to outperform lesser engaged ones by more than 200%.
But what drives employee engagement? Simply put, workers that have their value communicated to them by their supervisors are likely to be more engaged. Bilateral communication, one of the central tenets that are discussed and showcased during quality team building activities, is integral to the process of communicating worker value. This means that companies that don’t reinforce the importance of communication through team building exercises are missing out on major productivity increases.
The Costs Can be Astronomical
“So you miss out on some extra productivity,” you may be saying . “So what? It can’t result to that much on a practical level, can it?” Think again. Companies are leaving vast sums of revenue on the table, simply out of a reticence to provide better engagement for their workers. In fact, actively disengaged workers, according to a Gallup poll are likely to cost the US economy alone between $450 and $550 billion.
Spread across the entirety of the American workforce, that might not seem as bad as it sounds. There are untold thousands of business across the US with millions of employees spread among them, after all. However, on an individual business level, research has shown that a company with poor communication practices loses 17 hours per week for every 100 employees or nearly $530,000 a year on average. How many employees does your company have? Do the math.
Don’t Pay the High Price – Call In the Experts
The evidence is overwhelming – companies that dismiss team building as a viable option to grow productivity do so at their own risk. Don’t be a statistic – contact us today and we’ll show you how our effective team building events can boost the engagement – and the productivity – of your workforce.