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Why Team Outings Make Financial Sense

Posted by Michelle VanHemert

Jul 1, 2016 10:00:00 AM

Your employees are the bread and butter of your company and how well it functions, so it’s essential to make them feel like they are an integral part of the team. Team outings can help employees establish a sense of comradery with other employees and upper management, which increases their retention, loyalty, and overall trust towards the company.

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The Importance of Team Building

Scheduling regular team-building events can provide a way to recognize good work and allow employees to let loose and have fun in an environment where their noses aren’t always to the grindstone. Active team building activities can help increase employee retention and restore a sense of unity.  

How to Create a Great Company Culture

Some folks believe that you have to create a top-notch product and then build a company culture around that, but then what do you do when you have that product or service, and you need a staff to fulfill the demand? In the beginning stages when not very many employees are involved, it’s easy to get everyone in the same room to talk things out in a small situation when the culture is implicit. But when the company’s growth shoots up, and more people are brought on board, it gets harder to communicate with everyone or even know all of the employees.

But this is also an excellent chance for the company’s leaders to set the company culture tone. Holding an event offsite with employees is an opportunity to instill the business’ values in a fun and productive way. For the person who is creating the team-building event- it’s important to define goals and a purpose for what you are trying to accomplish. Do you want them to learn a new skill or improve employee relations? Just make sure that the event isn’t too dull to make an impression or too exciting to cause someone to get hurt.

Why Team Building Makes Financial Sense

It can cost a lot of money to hire and train a new employee, so retaining current employees is vital. Other long-term financial benefits of having happy employees include a higher productivity rate and more of an employee’s willingness to go above and beyond because they believe in the company’s vision.

Employees that trust the company and upper management are more willing to put in overtime or work extended hours occasionally, as well as feel a sense of belonging. This positive company culture and team atmosphere generate employee longevity and lesser costs in the long-term for the company.

A fully functional team creates a stronger bond causing employees to be more willing to stick with the company and their co-workers/friends for a longer amount of time. Therefore, it creates less time, money and stress for the human resources department continually trying to fill positions. With a full, happy staff, there is less pressure to fill in the gaps when the business is short-staffed or putting more work on a good employee’s plate.

What you paid to take your team out to dinner or engage them in a fun event is nothing compared to what you would deal with in constant turnover. So for the sake of your company, think about ways to connect with your employees and make work fun again!

Topics: Management, Millenials, Company Culture, HR, Human Resources, Improve Company Culture, Employee Motivation, Keeping Your Employees Motivated, Down to Earth, Workplace Behavior, Employee Retention

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