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Team development - are happy workers the key to surviving the credit crunch?

Assuming the majority of workers will be keeping their jobs, now is the time to invest in team development strategies to ensure staff are motivated to get the business through the tough times ahead. Productivity could take a hit in many firms during this time of anxiety and unease over job security which is ironic considering the need for more efficient working as redundancies take effect to shrink the workforce.

Businesses with motivated and enthusiastic staff will come out stronger and with a greater share of their market than those that allow negativity to slow their progress. The best businesses aren't denying that times are tough but are instead taking decisive action, being open with staff and investing in the development of a team.

Businesses not willing to invest in ensuring their working environments are enjoyable places to work should consider economic-based research by Prof Alex Edmans, Professor of Finance at Wharton School of Business. He found that happy companies delivered an average 14% return between 1998 and 2005 compared with a market average of just 6%.

Founder of Fresh Tracks Team Development Dan Collins says: "Fun isn't futile, it's essential to overcome the downward spiral of rumour and negativity that can take hold during periods of uncertainty… When motivation drops people become less creative, are less likely to spot opportunities and may not give that little bit extra that can make the difference between a deal succeeding or failing."

Team development is imperative when building trust and maintaining morale. Don't be fooled into thinking that a hard drinking session or a night at the dogs will be enough to build morale in this climate. Businesses should try and use experts who will facilitate a process of learning and challenge negative attitudes in a professional not personal manner.

However, many companies are worried, with belts tightening, how can all this be funded? Let's accept that the annual golf jolly to the Algarve is probably off but instead consider a team picnic or an energising team game in a function room at the local pub. A few pounds invested now may well save your business.

Notes To The Editor:
Should you have any further queries about this story in particular or about Fresh Tracks in general, please do not hesitate to see www.freshtracks.co.uk or contact Fresh Tracks direct on 01920 822 220.

Fresh Tracks were established in 1991 - one of the most established companies within their sector - and offer bespoke team building programmes, motivational activities and event and conference management solutions.

Recent clients include T-Mobile, Coco Cola, AXA, The British Embassy and the Department for Culture, Media & Sport.