Whether you’re a Fortune 500 company or a startup, cultivating the right team is a must! But it’s more than brilliant minds and big ambitions. If your team can’t work together, achieving a common goal can be impossible. So how are companies like IKEA, FabFitFun, Google, and Facebook so successful? A huge part of their success is attributed to investing in team building!

“Talent wins games, but teamwork and intelligence win championships.” –Michael Jordan

Successful teams compliment each other’s strengths and weaknesses. This is why collaboration and teamwork are crucial when building a successful business.

 

#1 Poor Communication Can Kill Your Company

86% of employees and executives cite lack of collaboration or ineffective communication for workplace failures 

 

#2 Employee Retention 

54% of employees say a strong sense of community (great coworkers, celebrating milestones, a common mission) kept them at a company longer than was in their best interest

 

#3 We’re Social Creatures 

50% of the positive changes in communication patterns within the workplace can be accredited to social interaction outside of the workplace

 

#4 New Workforce Generations 

33% of Millennials want collaborative workspaces & 42% of Millennials expect to change jobs every 1-3 years, employee turnover from this generation costs the US economy $30.5 billion a year

 

#5 Employee Loyalty 

33% of employees say the ability to collaborate makes them more loyal

 

#6 Boost Employee Engagement

An alarming 70% of American workers are not showing up to work committed to delivering their best performance, and this has serious implications for the bottom line of individual companies

 

#7 Avoid Failure

90% of leaders think an engagement strategy is important for business success, but only 25% of them have a strategy & 70% of business efforts fail due to lack of engagement

 

To sum it up – the ROI on investing time and money into quality team building is exponential.

Who’s ready to set your next team building activity?

 

Jen Wilson
Stage 1 Financial 
Looking for a new team? Check out our job postings!