There is no question that there is a cost to engaging in team training and team building. Some may think this is not money well spent and they would be, in my opinion, and the opinion of many leading team performance researchers, wrong. When you look at the cost of a low performing or dysfunctional team it most likely has a far greater impact on the bottom line than a little money spent on team training and team building.
I once had a conversation with a potential client about team training for his team. He told me at length about how dysfunctional the team was and that they had not met their targets for more than two years. The company was suffering due to their poor performance and they were losing customers. It was obvious this team was costing the company considerable money. When told how much a team training program would cost (in the $5000 range) the manager balked and said “are you crazy, I’m not spending that kind of money on this bunch of idiots”. Needless to say the team continued to perform poorly and soon thereafter the manager was sacked.
If you are to use sports as a comparison you would see that the training implemented to attain high performance is staggering. Professional sports teams and Olympic athletes invest countless hours into perfecting their craft. Some studies show that the ratio of training to performance can be as high as 99:1 in some sports. In most companies it is the exact opposite and yet teams are expected to perform in a highly complex, stress filled and ever changing environment. How is this right?
Investing a little of your yearly budget into team training and team building reaps huge rewards in the long run. Not only will team and individual productivity go up, but your team will appreciate your investment in them and this will positively impact their commitment to the team and their loyalty to the company. In today’s highly competitive employment market top performers can easily be attracted to your competitors if they see something they like better. Invest in them and their ability to perform at a top level and you will be more likely to keep top talent within your walls.
Dan Pink in his book “Drive” identified three factors that lead to superior drive, dedication and commitment. These are Mastery, Autonomy and Purpose.
Team training fits into the Mastery category as it helps individuals, teams and leaders become better. As Dan Pink states, and I am paraphrasing here, nobody wants to be a poor performer. We all want to learn, to grow, to develop, and to become better. This is what team training offers.
In my opinion it is obvious there is great value to team training and team building, but you will need to be the judge for your team. In the end it is a small price to pay with potentially huge ROI.
Check out our various team building and team development programs to see what is the best fit for your needs.