Company retreats, corporate retreats — whatever you call them, these overnight team-building retreats and activities that aim to “bring people together” and hopefully make your company and its various departments more cohesive simply don’t cut it anymore.
Why? Because people are oftentimes quite reluctant to spend that much time away from family, these events can feel forced, team dynamics and productivity don’t rely on having these regularly, and—when it comes to your company’s bottom line—these retreats can be expensive!
So why aren’t retreats working and what can you do instead? Let’s take a closer look.
Why Retreats Fail
In addition to the reasons listed above, team-building retreats often fail because objectives aren’t clear: they’re very vague or don’t have anything to do with the team’s actual performance. There simply aren’t any clear business objectives, meaning the retreat isn’t built to achieve any such objectives.
Furthermore, when the retreat ends, what was learned often goes out the door. That’s because—instead of being seen as an integral part of work—many employees see these retreats as separate, standalone events. When back in the office, they return to business as usual, which completely defeats the purpose of the time and money invested in the retreat in the first place.
Do Something That Actually Works
So what can your organisation do that will actually help move the needle? A better use of your time and resources is to invest in things your people actually care about and want to do. One of those things is mentoring.
That’s right: People WANT mentoring. In fact, a recent study by Deloitte showed that all millennial respondents interviewed wanted to receive significantly more mentoring and coaching during the week than they currently do.
Why Mentoring
A more cohesive working environment can’t be achieved through “team-building activities” alone; real human connection, genuine understanding, and the knowledge that we are all helping each other be better and achieve better is what really fosters such an environment.
Thankfully, all of these things—including strengthened office dynamics and increased productivity—can be achieved via a mentoring program.
Some of the additional benefits mentoring can provide your organisation include:
- Increases in managerial productivity by 88% with mentoring and training, versus 24% with training alone.
- Boosted retention rates of 69% for mentors and 72% for mentees in a mentoring program.
- 5x more promotions for employees who receive mentoring versus those who do not.
- Advancement of minorities. (It’s been found that people of colour who advance the furthest all share one characteristic: a strong network of mentors and corporate sponsors who nurture their professional development.)
Moving Forward
Are you ready to see how a mentoring program can greatly improve your organisation, more so than a team-building retreat ever could?
Learn more about workplace mentoring, take a look at our pricing, and—when you’re ready to take the first step toward organizational success—book a demo with one of our Mentoring Specialists to start learning how a mentoring program could work for your team today.
Want to learn how the Mentorloop platform can create a mentoring program that’s perfect for your organisation?
