How Team Building Can Help Your B2B Company In The Long Run
If you’re starting up a B2B company, then employee engagement and customer retention should be at the forefront of your mind. Building a productive, happy team will not only help your company to prosper and build, but it can also help with retaining important customers and growing profit.
One of the best ways to achieve this is through team-building exercises. This is an effective and efficient way to allow your team to get to know each other and work in tandem.
Of course, when a company starts out, nothing is there to connect employees other than the carpet they walk on for eight hours a day. In this way, it is crucial that you put in the appropriate steps to bring them together, help them to understand the business and what they are trying to achieve, and connect all the dots needed to create a functioning business space.
Here are a few ways in which team building can achieve this and why you should put it at the top of your priorities when starting out:
Team Building Can Boost Motivation
When employees arrive at a new place of work, it is likely that they will only know the strategy of the company in the simplest of forms. A to B. Team building exercises, then, are not only a way to bring the team together but also to help fill in the gaps and build motivation.
Instead of a simple A to B mission, you can show them the steps you need to take to get to A, to B and onwards to where you want to go beyond that. You can show them your inspiration and your aspirations as a business and let them know that they are a crucial part of that. This is a great way to immediately make them feel valued and part of a journey.
Team Building Will Aid Your Customer Retention
As mentioned previously, B2B customer retention is one of the most important factors of your company. This is essentially where you are going to attain your business value and start making a profit. There are many B2B marketing channels which will help to drive loyalty, but a strong team and a clear motive behind operations can be just as important.
If the team is on one page, then the customer is on one page. Unnecessary complications and potholes can be navigated or entirely avoided, making the customer experience far easier and far more efficient. This will then give the customer a reason to stick around and continue the good experience. What the customer is looking for is very simple. Productivity and efficiency. Team building is inherent within attaining these traits in your team, so make sure to keep it as a priority, at least once every month.
Team Building Leads To Employee Retention
Overall, 50% of employees end up voluntarily leaving a business within two years, with employees right now at the highest risk of quitting within 12 months of a new job. This is a worrying statistic for a B2B company, as it not only costs money to replace an employee, but a low employee retention rate can end up driving customers away. Transparency is important within any B2B company, and a customer will know if an employee base is unhappy. Similarly, low retention rate knocks away at the respect you have built in the marketplace.
Think about how many stores or businesses you have gone to where you have actively been told about a poor company-to-employee relationship. This immediately puts a bad taste in the mouth and can drive you away from trading with a business at all. Team building can help to keep employees and avoid this. Not only will they feel valued and appreciated, but forming relationships within the business will ultimately build a kindredship and loyalty amongst work partners. This is crucial when it comes to your B2B company’s success and growth in the long run.
