Hire Anne T. , a brainy Consultant from Toronto, Canada | Expertbase

Quick Summary

7 Steps to Building a Business Case for Team Building

Calculating Team Building R.O.I.

Team Building
50
2 min
346 Words
2.03 K
Before proceeding with an executive retreat or team building initiative, it is important for your executive team to assess the costs and benefits of such an initiative. The following steps will help you undertake such an analysis.

Step 1: Identify Situations

Focusing on the past year, please identify 3 specific situations, events or circumstances involving members of your team that could have been handled more effectively. Pinpoint the impact on business and results:

Examples:

* reduced efficiency and effectiveness in decision-making
* increased costs
* difficulty in completing an initiative
* delays


Step 2: Situational Analysis

For each situation, identify what it cost the company in terms of:

* time and money to resolve the situation
* opportunity cost (examples: customers or business opportunities lost due to poor decision making or because the team did not work cohesively)
* quantify time lost by multiplying time vs. the salaries of the parties involved in the situation


Step 3: Pinpoint Indirect Costs

Factor in indirect costs of situations such as negative impact on morale, turnover & and productivity, customer, & revenue losses due to poor decision-making or the erosion of team cohesion.


Step 4: Identify & Calculate Value of Opportunities

Identify opportunities that can be generated by more cohesive teamwork and pinpoint their value. For example, pinpoint a specific piece of business that was generated by improved teamwork and track the results in hard dollar value.


Step 5: Assess Total Impact

Add up the amount that would have been saved or generated if the team had been able to work together more cohesively.


Step 6: Calculate Proposed Investment in Team Building

Use these figures to:

determine time and budget requirements
determine what it would be worthwhile to invest in team building
set time and budget parameters


Step 7: Compare cost & time benefits to proposed investment
This Article is authored / contributed by ▸ Anne T. who travels from Toronto, Canada. Anne is available for Professional Consulting Work both Virtually and In-Person. ▸ Enquire Now.

Your Comments

Your thoughts matter to others - more than you can imagine.

More Articles published by Anne

5 Free | Ad-Free | Full-Text Business Papers
More Articles written / submitted by Anne T.
Team Building

Misusing Team Building: Words Of Caution For Executives!

Team building is not a cure-all but it is an effective tool to help executives harness the expertise of team members.
50   |   901   |   4 min
More Articles written / submitted by Anne T.
Team Building

From Corporate Survival To Corporate Success: The Name Of The New Economic Game

Team and Organizational Survival Strategies for Turbulent Economic Times
50   |   3.84 K   |   18 min
More Articles written / submitted by Anne T.
Recruiting and Search

Talent Recruitment During Turbulent Times

Before we get caught up in the inevitable panic whenever the stock market plunges and the economy spirals out of control, it is important to take a more long-term view.
50   |   5.23 K   |   12 min
More Articles written / submitted by Anne T.
Team Building

Team Building: How To Avoid Team Building Gone Bad

Team fun? For the right group this could be a blast... tons of laughs. Exercise? Absolutely. Team building? I don't think so.
60   |   2.02 K   |   5 min
More Articles written / submitted by Anne T.
Entrepreneurial

From Employee To Entrepreneur: Taking The Plunge

Before you decide whether or not running your own business is right for you, start by pinpointing your area of expertise and assessing your aptitude for business.
50   |   3.75 K   |   12 min

More 'Team Building' Articles

13 more Articles that may interest you, too...
Allan M. : The Motivation Partnership - Managers And Executives Working In Harmony

The Motivation Partnership - Managers And Executives Working In Harmony

After extensive research (of my own personal, and others' motivations) I have discovered that in order to produce 'self motivation' in others, a manager should concentrate on four key factors.
5.43 K   |   51
Gary M. : Football [1] Business [0]

Football [1] Business [0]

YOU DON'T KNOW WHAT YOUR DOING!!!
2.41 K   |   50
Peter B. : Coaching Virtual Multicultural Teams

Coaching Virtual Multicultural Teams

Is historical cultural context affecting your team?
967   |   59
Tyler  H. : Debriefing Your Team

Debriefing Your Team

Countless leaders struggle to get their teams to participate authentically in discussions. The typical pitfall is in their approach because they do not consider several key components that dictate a group's openness to actively participating in a discussion. We will explore those components here and see how truly easy it can be to get your group talking.
3.45 K   |   50
Allan M. : Team Development - It's On The Cards.

Team Development - It's On The Cards.

What are the challenges that managers face in developing their teams and what can be done to support them?
3.24 K   |   50
Anne T. : From Corporate Survival To Corporate Success: The Name Of The New Economic Game

From Corporate Survival To Corporate Success: The Name Of The New Economic Game

Team and Organizational Survival Strategies for Turbulent Economic Times
3.84 K   |   50
Albert E. : We Need Teamwork - But Is It The Only Useful Form Of Work?

We Need Teamwork - But Is It The Only Useful Form Of Work?

Two of today's buzzwords are Team and Teamwork. Those with a particular desire to conform to the spirit of the age portray them as the polar opposite of individual achievement, which embodies everything that is bad and "out", whereas teamwork is good and "in".
9.26 K   |   50
Allan M. : Managing Team Conflict

Managing Team Conflict

A major advantage a team has over an individual is its diversity of resources, knowledge, and ideas. However, diversity also produces conflict. As more and more organisations restructure to create teams the need for training in conflict management will continue to grow.
5.41 K   |   50
Anne T. : Misusing Team Building: Words Of Caution For Executives!

Misusing Team Building: Words Of Caution For Executives!

Team building is not a cure-all but it is an effective tool to help executives harness the expertise of team members.
901   |   50
Anne T. : Team Building: How To Avoid Team Building Gone Bad

Team Building: How To Avoid Team Building Gone Bad

Team fun? For the right group this could be a blast... tons of laughs. Exercise? Absolutely. Team building? I don't think so.
2.02 K   |   60
Peter B. : Managing Global Projects - Facing Cultural Challenges?

Managing Global Projects - Facing Cultural Challenges?

Ever experienced an 'unbuffered' learning experience? The kind that develops global competences?
833   |   50
Prof Sattar B. : Building High Performance Organisations

Building High Performance Organisations

Using results-based leadership (RBL) framework
1.35 K   |   60
Allan M. : How To Move The Team Through The Stages Of Team Development

How To Move The Team Through The Stages Of Team Development

Unfortunately, many managers do not get the necessary training or coaching in this area of team development and as such teams go through a lot of stress and turmoil when perhaps this could be minimised quite considerably.
50.8 K   |   212
Back to top
50