Corporate Team Building Events Slow the Hybrid Work Model Revolving Door

Employee retention has always been a challenge. It’s expensive to have a revolving door. The move to remote and hybrid work models has made employee retention an imperative–and that’s where corporate team building comes in. Employers are competing for top talent and must retain existing talent in a workplace with dramatically different dynamics than those that existed just a few years ago.

Employees are leaving their jobs like never before. In 2021, according to the U.S. Bureau of Labor Statistics, over 47 million Americans voluntarily quit their jobs in an unprecedented mass exodus from the workforce. That trend is continuing. The 2022 PwC Workplace Report shows that one in five employees are likely to switch employers in the next 12 months.

Replacing employees who leave can be costly. Expenses run 33% of a worker’s annual salary to replace them if they leave, according to Employee Benefit News. The Work Institute’s Retention Report shows that the replacement cost is $16,500 per person for an employee earning a median salary of $50,000 a year. Three or four corporate team building events per year are much less expensive!

Lack of Connection Is Driving Higher Turnover

What are employees looking for that’s driving all the job-switching? It’s not just about the money. Nor is it about perks like company-provided snacks, an on-site game room and even a cold beer tap. It’s about connection and the lack of a physical connection as part of the modern employee experience. Many workers have never met their boss or their fellow employees in person. When these connections are weaker, it’s easier to switch jobs. It’s less “painful.” You’re not letting anyone you care about down.

Culinary Team Building Fosters Genuine Connections

Corporate team building is a meaningful tool employers can plan for and utilize to replace the connections that used to happen more naturally. Team Building with Taste occupies a special niche in the team building ecosystem.

What’s more nostalgic than a kitchen? We all have fond memories of kitchens regardless of our cooking skill ability. Food brings out the best in people and corporate team building competitions are a fantastic way to bring a company together for fun, excitement and connection.

Team Building with Taste’s culinary team building events bring employees out of their typical roles and into a new situation where they communicate, create, problem solve and work together as a team. That camaraderie and team bonding carries over into the workplace.