The first step in planning your team-building budget is ensuring it’s integrated into your team engagement and entertainment expenses. At Teambonders, our team-building events are designed to be both engaging and entertaining. We specialize in creating memorable corporate entertainment experiences!
When planning your team-building and corporate entertainment budget for 2025, here are some key factors to consider based on current trends and expert recommendations:
1) What If I Don’t Have a Budget?
No budget? No problem. Check out our blog for DIY team-building ideas that are fun and cost-effective.
2) Set a Benchmark Budget for Team Building
Companies typically allocate between $100 and $500 per employee for team-building activities annually. This can vary significantly based on company size, location, and the scope of activities planned. For example:
- Small teams (fewer than 50 employees) can expect to spend between $6,000 and $20,000 annually.
- Medium-sized companies might allocate $12,000 to $50,000 or more depending on the complexity and frequency of activities.
- Larger enterprises with hundreds of employees could be looking at annual budgets exceeding $100,000 if they plan multiple events.
3) Consider a Tiered Approach
Many companies are now embracing tiered pricing for team-building budgets. They categorize events into small, medium, and large-scale initiatives:
- Small-scale activities: Monthly or quarterly virtual team-building, costing between $100 and $200 per person.
- Mid-sized activities: In-office or off-site half-day events, averaging $200 to $500 per person.
- High-impact experiences: Annual retreats or weekend excursions with premium entertainment or travel can be well over $500+ per person.
4) Account for Corporate Entertainment Expenses
Corporate entertainment budgets, which include events like holiday parties, recognition galas, or social gatherings, usually start at around $200 per employee but can scale depending on the event’s extravagance. Companies with larger event budgets typically spend closer to $400-600 per person, especially when offering higher-end venues, catering, and entertainment packages.
For example, when booking popular team-building events like our Survey Showdown or Custom Corporate Olympics, consider including add-ons like personalized themes or premium materials, which can elevate costs but dramatically improve the overall experience. If you need advice, get in touch, and we’ll help you start planning!
5) Prioritize ROIWhen requesting budget approval, it’s essential to demonstrate a clear return on investment (ROI). Team-building initiatives can improve engagement and collaboration, boosting productivity and employee retention. When presenting budget proposals, make sure to highlight potential ROI, such as improved communication, innovation, and job satisfaction.
6) Make a Custom Plan
No matter your budget, work with our team to find the perfect team building corporate entertainment plan to suit your needs. Whether you want something grand like a Corporate Carnival or something small and easy to host like Virtual Survey Showdown, we’ve been at this for 25 years and have hosted over 10,000 events. We’ll find the perfect thing for you!
By taking a strategic approach to budgeting, and working with expert facilitators like Teambonders, you can ensure that your investment in team building pays off by fostering a stronger, more connected, and productive team.
Ready to start planning your 2025 team-building activities? Get in touch with us today, and let’s create an unforgettable experience for your team!
