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 activities you are going to look into. 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 events 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. Which is whyit’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.

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

How Much Should You Spend on a Team Building Event - Price List

 

From this you can see how important it is to consider the group size. 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.

If you are after some help figuring out our most cost-effective activity, then the Smartphone Challenges like Smartphone Pub Treasure Hunt, Smartphone City Treasure Huntand the Spy School Smartphone Challenge are great! As well as it being a successful event for most objectives that you may have in mind.

For a mid-cost event you are looking at activities like Pizza Making, Cocktail Making and Escape Rooms, these activities are great to get your team thinking outside of the box and getting them to work together as a team.

And for larger scale events the Crystal Collection, Chain Reaction and Pub Olympics will be the best options. 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.

 

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