Skip to content

5 Benefits of Team Building and Leadership Development

Business owners invest in many different products and services for their companies Computers utility, insurance office space, advertising onboarding, training taxes, 401k matching, health benefits, disability, phones printers, equipment Office supplies, transportation solutions… the list goes on and on.

However, if you’re not investing in the development of leadership and teambuilding within your current workforce, you’re missing out on a massive chance to boost your company’s growth and development.

The working population is experiencing a massive shift during the recovery of pandemic. Businesses are struggling to fill empty positions and retain employees.

However, while many tend to point fingers at COVID-19 as well as unemployment benefits, the reality is that employers were trying to keep employees in the workforce prior to the pandemic struck.

Gallup has reported that millennials those born between 1980 and 1996 are notorious job-hoppers, more than the previous generations had ever before. This trend may be exacerbated due to the COVID epidemic, but it isn’t new.

Gallup’s report on how millennials are looking to live and work, revealed that 60 percent of millennials are willing to explore new jobs, as opposed to 45% of non-millennials. In the average, millennial turnover results in an economy U.S. economy an estimated $30.5 billion per year.

With millennials replacing older generations of workers and post-COVID recovery efforts shine an eye on those who are frustrated with being underpaid and undervalued retention rates are expected to remain a challenge for many organizations.

A simple solution is to invest in employees already employed to ensure that they’re keen to stick around.

The benefits go far beyond simply keeping employees. If you invest in your team is significant impact on the business’s bottom line and how you can grow your business.

It is important to take the time to invest in team-building and leadership team development exercises help to:

1. Improve Employee Engagement

In the end, retaining your employees isn’t enough. If employees aren’t enjoying working for you, your company isn’t functioning at its best.

Gallup’s study revealed that just 29 percent of millennials feel active at work. This implies that 7/10 millennial employees don’t feel passionate about their job. One alarming number of millennials are actively disengaged at work, which can have detrimental consequences for the company. Other employees aren’t engaged and are merely doing their job to earn a paycheck and that’s it.

Engaged employees bring a myriad of benefits, such as:

A happier work environment: Engaged employees are happier at their job. It’s easier for them to take initiative as well as assist others. They’re also less likely to experience workplace burnout.
Accountability If employees are enthusiastic with their work, they feel proud of their work. They are eager to do well when they fail, and if they commit a mistake, they will work hard to resolve the issue quickly and efficiently.
Employees who are engaged typically are self-sufficient. They don’t require continuously monitored, which frees up supervisor’s time to focus on more important tasks.
Confidence: Actively engaged employees are open to learning and self-improvement. They feel more secure at work, which has an impact on their confidence at work as well. The ability to succeed both inside and outside of the workplace is the recipe for a happy life.
Word-of-mouth praise: Happy employees frequently talk about how much they appreciate their work. Their glowing recommendations can help recruit talented professionals to your company.
The bottom line: An employee who is passionate about the job will have a higher productivity rate than one who is doing their job to earn a pay check or, worse yet, one who hates working in the first place.

2. Develop Trusting Relationships

Collaboration is an essential component in all occupations. Rarely, employees act in a way that is lone-wolf and not interfere with other people’s duties and deadlines.

If your team is going to function at optimum efficiency it is essential that they trust each other to be able to step up and fulfill their duties. This level of trust is a process that takes time to establish within the everyday activities of work.

But putting aside certain times and activities for team building can drastically accelerate and deepen the trust among employees so that they can operate as a well-oiled, efficient machine in a matter of minutes.

3. Reducing workplace violence and improving Conflict Resolution

Enhancing the relationships between employees has the additional benefit of minimizing conflicts. Not only are employees less likely to be involved in major clashes, but they are also better equipped with the skills to resolve difficulties.

Team building helps employees better understand their network of resources and feel comfortable trusting and confiding in one another. When there’s a challenge that employees can’t solve by themselves it is more likely that they get help from a supervisor or human resource department.

4. Develop Leadership Skills

Your business needs committed and competent leaders to sustain long-term growth. Instead of seeking candidates from outside for the leadership roles, you could invest in cultivating leaders from within.

The employees tend to have more trust in leaders who started at the bottom and rose up the ranks through perseverance and commitment More so than they would trust anyone who enters without having any knowledge of employees or company’s policies.

Allowing your current team to keep growing and staying put sends an optimistic message to people who are looking to advance. It’s an excellent way to inspire leaders to lead with faith over fear.

5. Invest in Long-Term Professional Growth

The high turnover rate drains money as well as time and resources away from your business. It’s not a sustainable growth method. Over time, these types of companies will have people who are not engaged or actively disengaged with a few competent leaders and a great deal of costs and resources in trying to fill open positions, only to lose those workers within a short time.

Based on the Society for Human Resource Management (SHRM) The average cost of replacing an employee who is salaried is 6 to 9 months’ salary.

It’s not necessary If you’re making the effort to invest in your existing team, to improve their skills and teamwork, and develop leadership within your organization. These measures are setting your business up for success over the long term.

Make the necessary steps to build the Team You Wish to Have to succeed

Group-building activities are among the most effective ways to motivate your employees to connect, meet one another, have fun and trust each other, and to improve communication, collaboration as well as teamwork and leadership abilities.

The rewards are well worth the cost to invest in a more effective, happier team of highly engaged employees.