How Often Should You Hold Team Building Events?
Team-building events are a great way to sprinkle in some time to relax, socialize, and have fun with your colleagues. It not only boosts team morale but also creates a healthy company culture that is great for your bottom line.
Whether it’s a sushi-making class, a trivia night through Zoom, or an outing of go-kart racing, there are so many ways—virtual or in-person—to get your team connected and engaged.
Sure, team-building events have the power to transform a company. They both boost profitability while also bringing about positive vibes.
But how do we know when it’s overkill? How do we know when it’s not enough?
A lot of that depends on the kind of team you have. Keep reading to find the perfect balance of team-building events for you and your colleagues!
Why Team-Building Events Matter
Although the name may suggest otherwise, the benefits of throwing a corporate team-building event go far beyond just “team-building” itself.
Your team's overall performance is actually a direct result of their relationship with each other. So making time for gatherings such as these should be a top priority.
Before we get into the how, let's first go over why team-building events are so important in the first place.
Boosts Team Engagement
In today's work culture, most employees have “living for the weekend” as their daily mantra. According to a recent report from Gallup, only 15% of employees are engaged at work.
On the contrary, a 2022 study by Kenexa Research Institute found that companies with highly engaged employees generate twice the revenue as companies with low engagement.
With these striking statistics, it’s clear that team engagement plays a valuable part in your company's overall success. Holding team-building events is one excellent way to boost team engagement.
Team-building events provide an informal, casual space where your team can become more comfortable with their co-workers. Having a space where they can relax, let their hair down, and get to know each other will further encourage them to be active participants in their working environment.
You have a team that works hard every day to ensure your company meets its various goals. Setting time aside here and there for some fun activities and socializing is just the remedy to avoid burnout and feel like a valued member of the team.
Builds Connection & Communication
The more your team can connect and communicate outside of work, the more likely they will be able to work together seamlessly and collaborate on shared projects.
Team-building events that include fun problem-solving games, puzzles, and other team activities are super effective for “breaking the ice” and encouraging teamwork. It also allows your co-workers to open up and work together outside of their normal working environment.
Building relationships and collaboration in the working environment becomes much easier when your team employees have already done so in a fun and engaging way — hopefully with a good laugh or two!
Creates a Healthy Company Culture
Every business owner aspires to have a company culture that is envy-worthy, but many have a hard time living up to their own expectations.
Of course, it’s super important for your potential customers to want to hop on the bandwagon, but it is even more important for your employees and potential hires to believe in your brand as well.
Team-building events encourage your team to have a bit of fun now and then, and who doesn’t like to work somewhere fun? They create a more authentic and enjoyable employee experience and make them feel appreciated and acknowledged — ultimately lowering employee turnover and increasing retention rates.
Great for the Bottom Line
Speaking of employee turnover, hard data shows that team-building events create engaged workforces with 59% less employee turnover, a 20% boost in sales, and a 21% increase in profits.
The numbers don’t lie! From start-ups to enterprises, anyone can benefit from prioritizing team-building events. When your employees have a sense of group identity, they are no longer working as individuals. Together, they build mutual trust and a common commitment toward their goals to make for a more seamless, streamlined, and—most importantly—happy workforce.
When to Hold Team-Building Events
Now that you know the incredible impact team-building events can have on your business, you might be wondering when the best times are to grab the bubbly and celebrate.
Here are a few great examples of when you should seize the opportunity and throw a fantastic team-building event.
To Celebrate Milestones & Achievements
Did your team recently hit a special milestone or achievement? Take advantage of this exciting time by rewarding them with a celebration!
Whether it’s a successful quarter, completion of a project, or simply acknowledging their hard work, they will appreciate the opportunity to break away from their standard routine for some well-deserved fun.
These types of celebrations aren’t only limited to work-related affairs. Birthdays, anniversaries, and other life milestones are great excuses to get together and build more authentic relationships.
To Welcome New Employees
We have all been new hires at some point in our lives. The new people, environment, and overflow of information can feel overwhelming. Putting together a fun team-building event is just the warm welcome a new employee needs to relax and take a breath.
At the event, they’ll be able to socialize with their new team or department and get to know them better through fun and engaging games and activities. Then when it’s time to go back to work, they’ll be more comfortable and familiar with everyone and feel like they are a new valued addition to the team.
To Kick-off Merging Teams for a Project
If you’ve got an upcoming project where two teams will work together for the first time, a little team bonding can do wonders. Not only does it get everyone more comfortable with each other, but it also gets both teams ready and geared up to work together.
Having a social outing or virtual party will help get everyone excited about the upcoming project and feel confident about the new collaboration. It’s an excellent opportunity to incorporate a bit of productive work time through fun activities that create connections and get everyone set up for success.
To Have Fun & Show Appreciation
You don’t always need a good excuse to throw a team-building event. Sometimes, it’s just nice to let loose every once and a while and give your team some time to relax, socialize, and enjoy themselves — they deserve it, after all!
Regardless, throwing a party for party's sake won’t go unrecognized. Your team will appreciate your efforts because they will see what a valuable asset they are to your company, and employees who feel valued both perform better and stick around for the long haul.
How Often Should You Hold Team-Building Events?
We’ve finally made it to the big question. Is there a special sweet spot for how many team-building events you should throw to keep morale high and turnover low?
A general rule of thumb would be one to two times a quarter. But it really all depends on the size of your team and the type of workforce your company has.
For instance, if you’re a small business, you will likely only need to schedule events no more than once per quarter. This is because you have a smaller team that can get together all in one go — you might even be able to fit together in one room!
On the other hand, if you’re a mid-market or large enterprise, you’ve got way more people to manage which means your events will need to be split off by department. Therefore, having multiple events within a single month or quarter is ideal.
How often you hold team-building events also depends on the type of workforce you have. Are you a fully remote operation? Hybrid? Or are you in office?
If you have a remote team, you’re more likely to get away with holding events more often. Since they are in the comfort of their own home, attending your event will be much more convenient for them (and cheaper for you). That said, it’s still important to ensure that the date and time work for everyone.
If your team is in office, I would stick to the guidelines we've outlined regarding company size. However, with hybrid companies, alternating between remote and in-person events will allow you to schedule them more often as things will feel more dynamic.
It’s All A Balancing Act
As much as your employees love to get together and celebrate, there is such a thing as too many events. Holding events too often will cause them to lose their novelty. When this happens, your team will begin to see them as a dreaded extension of work rather than a time for fun and excitement.
That’s why it is necessary to find a good balance. If you are still unsure, gather feedback from your team and hear what they have to say through a survey. You can also have your team submit feedback after your event to measure their engagement and find ways to improve next time.
Helpful Tips When Planning Your Team-Building Event
Planning an event can be a daunting task. With these simple tips, you’ll be able to plan your event without any major hiccups along the way.
Get your team involved: The best way to ensure your employees have a good time is to get their input on what they’d like to do. Get them involved in the decision-making process by having them vote on two or three options. They’ll appreciate you wanting their opinion!
Virtual or in-person: With more and more companies going remote, it’s important to consider if it’s realistic or not to have your team meet in person. Make sure you specify this detail to your team, especially if you are a hybrid workforce.
Avoid busy seasons: Holding an event during a busy season can actually put more stress on your team’s plate, not less. All they will be thinking about is their overdue projects and impending deadlines.
Pick an appropriate day: Be careful about what day you decide for your team-building event. Friday might seem like the perfect day, but you could be crossing a boundary and invading your team’s weekend. A day during the middle of the week is often best!
Happy Planning!
We hope this article has helped you feel more confident about the why, when, and how of throwing the most amazing and fun team-building events for your team!
Deciding on how often to hold your events is one thing, but planning them is a whole different beast. It’s not easy to run your business while juggling all that comes with organizing a corporate event.
At Happied, we’ll handle your team and client events so you can run your business and save time, money, and stress — all while lowering employee and client turnover.
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