Best Business Investments: 5 Benefits of Team Building and Leadership Development - Anthony Glover
When business investments are mentioned, there is plenty to be invested in to make a business run smoothly, such as better computer software, upgraded computers, flexible healthcare plans, etc. But one investment is constantly overlooked: team building and leadership development. I recently read an article published by Full Sail Leadership Academy, titled Best Business Investments: 5 Benefits of Team Building and Leadership Development, by Tim Dittloff. This article outlines the five benefits of team building and leadership development and how they can create opportunities for the company’s long-term growth and prosperity.
As younger generations replace older generations in the workforce and post-COVID recovery efforts reveal employees feeling underpaid and underappreciated, retention rates are likely to continue being a struggle for many companies. Team building activities may sound like a drag, to the point where employees would even try to avoid getting involved in any of them. But in order to foster a positive workplace, it is crucial to have employees engage with one another.
This article lists five benefits of investing in team-building and leadership development exercises that can have a major impact on your bottom line, and the future of your company.
1. Increase Employee Engagement
Increasing employee engagement can lead to many sub-benefits such as;
- A healthier work culture where engaged employees are happy at work and less likely to experience workplace burnout.
- Accountability. When employees are engaged, they take pride in their work.
- Engaged employees don’t need to be micromanaged.
- Actively engaged employees become more confident at work, which often has an impact on their confidence outside of work, too.
- Word-of-mouth praise. Happy employees often talk about how much they love their job.
- Bottom line. An engaged employee who is passionate about the job will have a higher productivity rate than someone who’s just there to collect a paycheck, or worse — someone who resents being there in the first place.
2. Develop Trusting Relationships
“Teamwork is a critical component”
If your team is going to achieve maximum efficient productivity, they need to trust one another to fulfill their duties. Organizing team activities for team building will deepen the trust among employees so they get to know each other on a personal level and foster positive work relationships.
3. Reduce Workplace Clashes and Improve Conflict Resolution
“Strengthening relationships between team members has the added benefit of minimizing conflicts.”
If employees encounter a problem, they are more likely to open up to a supervisor they trust or human resources. It provides them the courage to speak up with something is bothering them instead of keeping it to themselves which may lead to job dissatisfaction.
4. Develop Leadership Skills
“Employees tend to have more trust in leaders who started at the bottom and rose through the ranks with hard work and dedication, more so than they trust an outsider who comes in without knowing any of the workers or company policies.”
Promoting internal staff is an encouraging way of showing your team/employees that everyone is valued and will be rewarded for their hard work. Giving them an opportunity to showcase their leadership skills and retain valuable employees.
5. Invest in Long-Term Professional Growth
“High turnover rates hemorrhage money, time, and resources away from your company.”
If companies take time to invest in current teams/employees, it would improve their skills and teamwork, and develop a leadership mentality.
Team-building activities are one of the most effective ways to encourage employees to socialize, get to know each other, have fun, trust one another, and create connections within the workplace. Besides that, it is worth the investment when in return, companies get a happier team of highly engaged employees that leads to efficient productivity. Because when you have happy employees, productivity, loyalty, and job satisfaction will be at their all-time high.
Click here to read the full article.
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