Corporate Team Building Events Benefit Everyone
The way society views charity and donations have changed drastically over the last six decades. Once upon a time we would just throw a few pennies into a UNICEF box, or purchase a few Girl Scout cookies and know good was happening. Even companies just had to give a small portion of their profits.
Now, corporate donations have given way to corporate give back activities. These philanthropic corporate team building seminars have taken center stage with a bright light and a script of data to follow.
More and more Fortune 500 companies have begun to embrace these engaging events for a variety of reasons.
Here are the top three reasons Fortune 500 companies are paying for corporate team building
- Boosting Brand and Name Recognition– According to a May 2013 study by Cone Communications and Echo Research, 82 percent of U.S. consumers consider corporate social responsibility when deciding which products or services to buy and where to shop.
Many corporate team building activities like Odyssey Team’s Helping Hands, or Life Cycles bring a corporate group together, but in the end, the product they build like the LN-4 prosthetic hand is donated to someone in need. Once these donations have been advertised 88%, nearly nine in ten, consumers feel a responsibility to purchase products they think are socially and environmentally responsible.
2. Improving Quality of Life– By getting involved in corporate team building activities like Odyssey Team’s The Playhouse Challenge, or The Board Meeting your company gives back to the surrounding area. The company can give in the form of playhouses for under privileged kids, or a group of skateboards to the local Boys and Girls club. Either way this improves the quality of life in the community around the corporate headquarters or where a business sells its goods. This improves the way of life for consumes and the company’s workforce present and future.
By giving back to the local community local government will take note of these good deeds and might become more lenient with future zoning regulations and laws. Diana Blankman, the senior director for U.S. corporate giving and social impact said, “Novo Nordisk’s commitment to social responsibility and to serving people and communities in need is at the heart of everything we do.”
3. Driving Recruitment and Retention– A Net Impact survey found that 45% of students would be willing to take a 15% pay cut in order to work for companies that make a social or environmental impact. Corporate team building activities give back to the areas of the community that people feel most passionate about. This passion translates into an employees work as many of them are proud to say they work for a company whose beliefs are in line with their personal beliefs and values.
This alignment is what retains many of a company’s employees. Jonathan Copulsky, principal at Deloitte Consulting, explains that employees are “tremendously passionate about giving back” at an organization with a “long legacy of making an impact.”
91% of global consumers are likely to switch brands to one associated with a good cause given comparable price and quality. Corporate team building is no longer an optional activity for companies looking to increase their return on investment. It is a necessity for companies looking to stay on the Fortune 500 list.