Are You Wasting Money On Corporate Team-Building?
We may be corporate team-building specialists based in Singapore, with a proven track record locally and regionally, but let us throw out a controversial statement.
STOP WASTING YOUR MONEY ON
CORPORATE TEAM-BUILDING.
Nope, your eyes are not playing tricks on you. That’s exactly what we mean.
But before you go and start cancelling your contracts or rescinding your interest in corporate team-building altogether, let's break down this statement.
What does this controversial statement really mean?
Many organisations spend a considerable amount of time debating how much budget to allocate to corporate team-building and when to activate that budget in a calendar year. After deciding to invest, many end up sticking to offsite events like gala nights or cooking classes, without taking stock if these "bonding sessions" are actually benefitting their teams. You have to ask yourselves the hard questions to ensure that you are not wasting your money on corporate team-building initiatives that are not meeting your needs.
It's proven that corporate team-building is indispensable when it comes to inspiring employees and fostering collaboration, but not all corporate team-building activities provide the same results. In fact, many organisations spend large amounts of money on corporate team-building initiatives without the foresight to see how their teams would benefit from it on a practical level.
Why is corporate team-building still a worthwhile investment?
That being said, this is not an indication for organisations to cease spending money on corporate team-building entirely. It still is a worthy investment if (and only if) you choose the corporate team-building program that is relevant to the changing times and relevant to your unique needs.
The significant long-term benefits of investing in corporate team-building far outweigh the "cost". From improved communication to greater job satisfaction, there are countless intangible advantages associated with building cohesive teams in the workplace. Although it may not always be easy to measure these outcomes directly, these intangible effects will translate to tangible impact in the long run.
How to get the best ROI from your corporate team-building investment?
Here's what you have to do to make your investment worth it and get the best "ROI" from your corporate team-building initiatives:
Be aware of the warning signs
It’s important to ensure that the corporate team-building program you choose is a good fit for your organisation.
One sure way to tell if a program is a "no-go" is if it does not align with the values of your company or its culture. Even if you were to go ahead with that, your team is unlikely to find it beneficial or practical as the session would not have relevant tools or principles that you can adopt and execute.
Read this article for more details on how to spot a corporate team-building workshop that's not for you.
Do your due diligence
The process of selecting a corporate team-building program can be daunting.
To make sure the program works for you and your team, it is essential that you begin by clarifying your objectives and goals beforehand. By knowing what type of results you are looking for from the corporate team-building program, it helps narrow down which available options might best suit your needs.
Figure out how to be strategic in this process and execute your employee employment strategies with the right corporate team-building partner.
Get feedback after the session
How do you ensure that the money spent on these sessions is being used effectively? The answer lies in the ability to collate and evaluate feedback from the session.
Gathering insight into why, when and how a corporate team-building session works can help organisations make better and more strategic decisions about which corporate team-building programs will bring the most benefit in future.
Final Thoughts
Here’s a short and sweet summary: You are not wasting money on corporate team-building programs if you know how to choose the one that aligns with your needs.
If you’re looking to make your corporate team-building investment count, find out more about our corporate team-building program (whether you’re in Singapore or in the region): drop us an enquiry and we’ll be in touch!
Written by Rachel Chai
Connectedness • Empathy • Strategic • Belief • Context
Rachel is a Strengths School™ Certified Strengths Trainer and the Content Lead at Strengths School™. Being deeply introspective, she believes in helping others draw connections between how their unique strengths play out in their lives.
We are corporate team-building specialists based in Singapore, equipping in-person, virtual, and hybrid teams with practical tools to maximise collaboration and minimise conflict. Trusted by 600+ teams globally, our proven track record showcases our expertise in helping teams achieve their corporate team-building objectives.
