How Much Should You Spend on a Team Building Event?

How Much Should You Spend on a Team Building Event?

When it comes to budgeting for your team building event, you need to be realistic and work out exactly what you want to achieve from running it.

You need to consider the reason you are running the event as well as what you are hoping to achieve. From doing this you will come up with an idea of the types of team building activities you are going to look into.

How Much Should You Spend on a Team Building Event?

Investment in Staff Retention

Events like Christmas and Summer parties tend to cost more as they are usually larger scale events compared to perhaps a mid-quarter morale booster or a famili­­ari­­sation evening. You want to be able to consider what type of effect it will have on your team as well.

If you are not willing to put a realistic amount of money towards a team building event, then you can’t expect to get a successful outcome. Usually team building activities are booked in advance, giving your team something to look forward to.

So a poor team building event is more likely to make them feel unappre­ciated and down, than upbeat and positive about their role in the company! If you go forward with a team building event with an unrealistic budget, then it will more than likely have a reverse effect on your team.

Budget Guidelines for Team Events

Below you will find some recommended budgets for half day and full day events.

How Much Should You Spend on a Team Building Event? - Pricing

Which is why it’s so important to consider the budget when deciding whether to go ahead with an event. If you are not willing to spend a realistic amount of money on your event and instead opting for a low-cost and easy team building event, it will more than likely have a negative effect on your team.

For example, £1000 might seem like a great budget for your team building event but if you have 100 people attending you will find that it won’t stretch as far as you think! Which will limit the choice of events you can choose from which will then result in your team again, not feeling appreciated.

Low-Cost Team Building Event Ideas

These activities are extremely successful for most objectives that you may have in mind.

These activities are extremely successful for most objectives that you may have in mind.

Larger Scale Team Building Event Ideas

Activities like these will get everyone involved and enjoying themselves as well as give a huge variety of different outcomes that will improve your team.

Mid-Cost Team Building Event Ideas

These activities are great to get your team thinking outside of the box and getting them to work together as a team.

If none of these activities take your fancy but you are ready to start planning your own team building event then you are in luck. We have 100+ team building activities and ideas that are perfect for a range of different things. 

Or alter­natively you can call us on 0161 341 0052.

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