Investment banking is a sector that seemingly rewards lone wolf types, but there are considerable benefits to better collaboration and teamwork among employees. When investment banking employees are able to collaborate effectively, they share knowledge and skills with one another, and new employees are integrated into the team quickly and effectively.
Team building in the banking sector also helps to foster a sense of community, mutual respect and support. This all leads to improved employee happiness, increased productivity, and more profitability.
Why bother with team building?
Communication is essential for success in the investment banking sector. When employees work well together, they are more open and approachable. Rather than pit everyone against each other and encourage them to see their colleagues as the competition, it’s far more beneficial to encourage collaboration and teamwork.
That’s not to say that you can’t foster a sense of friendly competition with your team building exercises. There are plenty of ways to develop healthy competition that doesn’t negatively impact productivity and profitability in the workplace.
How to improve communication and collaboration
Team building exercises offer a number of benefits for the investment banking sector, including:
- Break down barriers between teams
- Quickly onboard new hires
- Increase collaboration and communication
- Encourage employees to talk about potential issues
- Identify leadership potential
- Build trust and a sense of camaraderie
If you’re curious about introducing team building exercises into your workplace, try these popular activities for investment banking teams.
1. Charity bike ride
A charity bike ride ticks many boxes when it comes to effective team building. First, it’s an active pursuit, which encourages everyone to get out and about to train for the event. Second, it’s charitable. Who doesn’t love raising money for a good cause? And finally, it encourages trust and collaboration. It’s not about winning the race, it’s about reaching the finish line together, and supporting one another through the challenge.
2. Skill sharing
It’s common for investment banking teams to have lots of the same type of mind. All brilliant, but also very similar and analytical in the same way. Skill sharing is about picking up on the unique qualities that each person has to offer and encouraging them to actively collaborate with the wider team.
This is an ideal opportunity for everyone to learn more about their team and what keeps them busy outside of the workplace. The skills they share don’t have to have anything to do with investment banking, it simply needs to be something they are passionate about.
3. Escape room
Put those analytical skills to good use with an escape room scenario. Escape rooms encourage everyone to work together to solve problems and find a way out. You can split your workers into teams and ensure there is a mix of personalities in each team.
This is an ideal opportunity to spot untapped leadership potential in your employees. While some people might try to take charge, they aren’t always successful if they don’t have the support of their team. Equally, it’s vital for some people to step back and agree to follow for the success of the whole team. Sometimes, the best leaders are not the ones able to shout the loudest.
4. Trivia night
Investment bankers are always a smart bunch, so why not put their knowledge to the test with a trivia night. Split the groups into teams and make sure you mix up the departments to ensure maximum mingling. You might find that the trivia night becomes a regular event that helps to break down barriers and encourage better collaboration between your employees.
You can include a banking or finance section of the quiz to allow everyone the chance to show off their industry knowledge. And then include a healthy mix of topics that will encourage lively debate and head scratching amongst your workers.
5. Wellness activities
The world of investment banking can be incredibly stressful, so it’s important to give your employees the tools they need to be able to manage high stakes situations. This is where wellness activities can be incredibly helpful. Encourage your employees to look out for one another with regular meditation workshops, yoga classes, or healthy cooking classes.
Wellness activities are an ideal opportunity to check in with workers one-on-one and encourage them to be real about the challenges they are facing. Without this slow-paced break from the workday, they might not find the opportunity to share what they are thinking.
Closing thoughts
In the competitive world of investment banking, you might feel like you are facing an uphill struggle in getting employees to relate to one another and socialise in a non-working setting. However, by choosing the right activities and making sure it remains fun and not like an extension of the workday, you might find it easier to start the process of breaking down those barriers.
