A high employee turnover is devastating planning team building events becomes an important part of a company’s success. Team events and the development of employees on an individual basis can lead to success in terms of efficiency and overall organization development.
Employee turnover is an important part of business because no company can succeed without a strong team. When the company loses high-performing employees on a consistent basis this eventually creates a major loss, not to mention in efficiency and employee-management relations. Some statistics suggest that one third of all employees quit within six months. Another startling survey revealed that one third of employees knew whether or not they were staying for the long-term at their new job within the first week.
One study by Glassdoor stated that over 80 percent of surveyed employees admitted that management expressing and showing appreciation is more motivational and boosts efficiency; only 40 percent said they would work harder out of fear of losing their job. It’s simply smarter business management to make employees feel happy and to build on their strengths in a strategic manner. Pay scale increases and promotions can sometimes be postponed in favor of showing appreciation and company perks.
Many team building events offer the opportunity of strengthening interpersonal relationships and teaching how cooperation is beneficial. In theory, each worker will be assigned a task. They have to complete the task together with the co-workers and achieve the goal. Each person will know their role and help one another to achieve a common goal, beneficial to the whole team.
Developing these team building events involves more than just creating games or re-enacting scenarios; professional team building also requires strategizing and planning for the personal and professional development of each individual. There has to be a productive plan in place, catered to the company itself, in order to foster growth.
Many companies cannot afford to develop their own list of goals or agenda for team building, so they find it beneficial to outsource team building to a company with proven experience. Time investment can be just as costly as a financial investment. However, the company that does not employ team building and other employee retention techniques, will soon face a problem with maintaining a strong team for the long-term.