Enhancing brand appeal, increasing sales and improving employee retention and engagement are top priorities for every business. As a business leader, I’m constantly evaluating how we manage success in these three areas. And according to the 2022 State of U.S. Consumer Trends Report, which looks at trends for 2023, companies that achieve success in these three areas have one thing in common…team building.
Team building is essential. It enables employees to learn from others and develop new skills. It creates a cohesive unit that can make individuals feel like they are the name and face behind the company. And when they take pride and ownership in your organization’s success, that’s a good thing!
Research shows that corporate social responsibility (CSR), diversity and inclusion, and employee well-being are essential to employees and consumers. Enterprises that prioritize these efforts will be best positioned to enhance their brand, grow sales and retain a highly engaged workforce.
Let’s break it down.
• Corporate social responsibility (CSR) refers to a company’s commitment to operating in an economically, socially, and environmentally sustainable manner while considering the interests of those beyond its shareholders. It is a concept that emphasizes businesses’ responsibility to impact society and the environment positively. And I can tell you CSR matters to current and prospective employees. Sixty-five percent of respondents in the HubSpot/Brandwatch study said it’s essential that they feel they are making a positive impact through their work. Consumers agree. The same report cited that what companies do for communities and causes is on their radars. While 56 percent said companies should donate a portion of their profits to charity, 66 percent say they are more likely to purchase from a company that makes donations.
CSR programs increase employee loyalty, enhance engagement, develop valuable collaboration and problem-solving skills, and create a powerful shared experience. And when an organization shares information about its CSR initiatives, consumers take note. CSR team-building programs bring people together to do something good for others. Whether it’s building adaptive equipment like wheelchairs for those in need, guitars for school music programs, or gathering school supplies or food items for a local food shelf, the community benefits and consumers notice.
Policies that promote diversity and inclusion matter to both employees and customers. According to the HubSpot/Brandwatch report, 56 percent of workers say it’s important for their employer to have a diverse and inclusive culture. Thirty percent of consumers choose products based on the brand’s commitment to diversity and inclusion.
Companies with diverse workforces tend to make better decisions and perform at a higher level than those with more homogenous teams. The great news is that the skills to lead diverse teams and create an inclusive culture can be taught and learned through professional development programs.
• Employee well-being is also important. Beyond pay and benefits, employees are looking for trust, respect and opportunities for advancement. Consumers also pay attention to how companies treat their employees, which plays a significant role in their buying decision.
Seventy-two percent of those surveyed said that companies should actively try to improve the well-being of their employees, and 78 percent said that they’re more likely to buy from companies that treat employees well. So not only will focusing on a positive work experience benefit employees and retention, but it also makes a huge difference for customers.
Paying attention to workplace well-being is an excellent employee engagement practice and enhances your brand image with consumers.
Team building is a powerful tool that can enhance your brand, increase sales, and improve employee engagement and retention. By fostering a positive company culture, promoting teamwork, and improving communication and collaboration skills, team-building activities create a ripple effect that can positively impact all aspects of your business.
Investing time and resources into team-building initiatives demonstrate a commitment to creating a supportive and inclusive work environment. The benefits include a more substantial brand presence, increased sales, higher levels of employee engagement, and improved retention rates. By harnessing the power of team building, you can create a winning formula for sustained success in today’s competitive business landscape.