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How much team building and corporate events cost… and is it worth it?

It is hard and even impossible to find public information about costs of team building and conference activities. Also, you prefer not to call a provider because you are afraid (in some cases rightly) that aggressive salespeople will harass you.

We know how hard it is to plan for a team building or a corporate event. Here we try to provide information that will help you better estimate your costs.

How much is a business simulation for a team building or conference?

One of the main factors in calculating the investment is the group size. The reason is that most activities’ cost (printing, supplies, facilitators, support staff royalties we pay to headquarters) increase as participants’ number increase.

Here is an estimation: (Prices in USD. Estimation applies for Continental United States only. For other territories please contact us.)

Group size    Price range

10 participants Half day $3,600-$7,000 Full day $4,300-$8,300

20 participants Half day $4,200-$8,000 Full day $5,200-$9,400

50 participants Half day $6,800-$11,600 Full day $8,600-$13,600

100 participants Half day $9,000-$15,600 Full day $10,600 – $18,000

Contact us to get a quick quote.

Why the cost variation?

The lowest tier

The lowest costs estimate is basic service (in our case we called it Silega Classic) – just the experiential learning activity. This option usually includes:

  • All materials required for the session
  • Travel expenses and cost of shipping materials
  • Facilitation by a certified facilitator/s
  • Call or meeting with the customer to adjust the session content and examples

 

Going premium – the highest price range

Two years ago we launched a value-added service called Silega Premium. The higher price usually includes several or all of the following:

  • More advanced business simulations.
  • Tests and measurement tools
  • Theming for the session (some activities allow for decorating the room to increase the engagement)
  • Follow-up after the meeting. Most follow-up is done online.
  • Participants support. Making learning stick requires constant support, especially during the first 30 days.
  • Additional pre-work with the management team.
  • Support with the event and agenda organization.
  • ROI Audit

How can you get a better deal?

Still, prices are too high for your budget? Alternatively, you want to get more value for your money (who doesn’t). Here are some ideas. With some of those tips, you can usually get 10 to 15% additional discount.

Prepayment

If you can pre-pay, most consulting companies can give you an additional discount because of two reasons.

a)  They can guarantee the event at 100%

b)  Most businesses can sacrifice part of their profitability for better cash flow.

Of course, prepayment is not an option for all customers as in some cases it goes against the policy.

Global contract

Check if your company has a global agreement with the provider that might include some discounts.

Long-term commitment

If you have several needs that can be covered by the same provider, you can negotiate a lower price because of the volume. Usually, you will have to commit on paper of those future engagements.

References or testimonials

Some consulting companies might give you a break in the price if you agree that your project will be used for marketing purposes on their social network website, official website, etc. In this case, however, make sure what are the expectations of both parties.

Get free stuff

Instead of reducing the price, you might be able to get more stuff for your money – some additional participants free of charge, a free follow-up session comes to mind.

Cutting the corners

Of course, the customer has more negotiating power in our red-ocean consulting business. However sometimes trying to squeeze the provider too much might end up in a lose-lose equation.

For example, some money can be saved from having materials delivered in lower quality. Another saving is to have only five support staff instead of the required 10. This will just put at risk the quality of the session and the saving will be minimal compared to the lost quality.

Is it worth the investment?

One of the critical challenges is for you as a customer to decide what is the outcome you want from a team building event or corporate event. Below you can find a simple chart that we developed to set the right expectations.

Some organizational problems that cannot be solved with a short intervention. However, in most cases, we see improvements soon. Below there are some improvements we measured and documented:

  • Productivity improved by 17% in six months and up to 30% eighteen months
  • A common language “ONE Team” and “ONE company.”
  • Increased accountability and responsibility to all areas within the organization, internal service improved 8%
  • Prompt response to technological change
  • Reduced “silo” thinking, greater interdepartmental integration

Questions, comments? Please contact us