Some managers love to save money on the department’s team-bonding activities, while others find it outrageous if the company cuts the team-building budget. Who is right, what is the cost of corporate events, and how to spend money wisely on your team? We will tell you!
Why organize team-building events?
There are many types of team-building events. You can go outside, stay in the office, play some games, drink, cook, or even work together to make your colleagues more motivated, thus boosting their effectiveness at work.
A great bonding event can increase your employees’ soft skills, for example,
- Creative thinking,
And also, it will
- Increase team effectiveness,
- Decrease employee turnover,
- Create a healthy workplace where information flows.
But most importantly, it will decrease operating costs. Continue reading to find out how.
The costs of corporate team-building
There is a wide range of the amount of money you can spend on corporate team-building events. Hosting a conference can be extremely costly for you, while a casual social outing is cheaper, but does the job to achieve the above-mentioned benefits.
You can choose from:
- Cheap (<25 EUR/person),
- Medium-budget (25-100 EUR/person),
- And high-end (100+ EUR/person) offers.
According to the White Rhino, a 50 people team-bonding program can cost 2500-6000 EUR for your company.
Of course, it’s up to you (and your colleagues) to determine what you want to do. If you have cool employees who are just fine with doing a bowling night, then you don’t have to spend that much money. Or, if your office is full of gamers, just organize a FIFA championship for almost free (you just need to take care of the booze).
The ROI on team-building
It’s not easy to calculate the ROI of your team-building events, but we have a way to do that. With regular team-building and corporate wellness programs, you can achieve a
- 27% decrease in sick days,
- 10% increase in productivity,
- 10% drop in employee turnover.
Check our workplace wellness program ROI calculator.
Apart from employee wellness, you will see the above-mentioned benefits and achievements if you organize common team-building activities on a regular basis. If you can get all of your colleagues involved, your ROI will be fine!
The correct team-building budget for your company
Only you know what is the correct budget for corporate team-bonding activities, but one thing you have to keep in mind: the best team-building event is constant and cheap. That’s what TeamPuli can offer to your company!
Organize unique team-bonding events and save money with Teampuli
TeamPuli is an excellent team-building tool, as it brings colleagues closer together in a hybrid, home office, or fully office-based environment, where they can get to know each other in a new way. One of the biggest benefits is that they can learn how to compete in a safe environment, so they can put this to good use in real-life situations.
|Number of users||Price/month|
Read more: Community building step-by-step, with TeamPuli!
List of features:
- Helps you build your team all year round
- Teams and challenges can be created in minutes
- No matter where your colleagues are in the world, the number of steps adds up
- It really gets you moving
- Constant motivation thanks to built-in interactive features
- Available in English and German in addition to Hungarian, making it an excellent choice for strengthening international teams
- Improves the sense of belonging, reduces integration difficulties
- Creates a more motivating and stimulating working environment
- Promotes a healthier lifestyle
- A playful environment that makes your company’s employer branding strategy more effective