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The Benefits of Running a Virtual Corporate Challenge

October 16, 2023 |

In our fast-paced world of modern business, the dynamics of the workplace are continually evolving. Employee engagement – and specifically virtual corporate challenges – have emerged as a pivotal factor for success. Over the last decade, it has gained unprecedented importance. With the rise of remote work and the changing expectations of the modern workforce, keeping employees engaged has become an imperative challenge for businesses. In this post, we will explore the significance of employee engagement, especially in the context of a virtual corporate challenge. We’ll delve into the potential benefits of running virtual corporate challenges and help you navigate the increasingly diverse landscape of corporate challenge providers, of course with a particular focus on us here at teroGO. By the end, you’ll understand why embracing tools like teroGO can positively impact your organization.

The Rise of Employee Engagement

Engaged employees are the cornerstone of a thriving organization. Richard Branson famously said, “Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients.” This sentiment highlights the fundamental shift in business paradigms over the last decade. The well-being and engagement of employees are now at the forefront of corporate agendas.

Studies show that engaged employees are not only more productive but also more loyal to their organizations. A Gallup study revealed that companies with highly engaged workforces outperform their peers by 147% in earnings per share. This data underscores why businesses, from small startups to multinational corporations, are increasingly turning to virtual corporate challenges to enhance employee engagement. The virtual corporate challenge has become an industry trend, helping organizations achieve these desired outcomes.

The Benefits of Running a Virtual Corporate Challenge

Running a virtual corporate challenge offers a myriad of benefits for organizations. These challenges provide a platform for employees to come together, interact, and collaborate in a virtual space, fostering a sense of community even when physically distant. The benefits of these challenges extend beyond mere team bonding. They help improve employee health and well-being, reduce stress, and boost morale. Such initiatives can also positively impact a company’s bottom line, as healthier, happier employees are more productive and less likely to take sick days. Compared to physical employee engagement events, as an example a team retreat or even a team dinner, virtual corporate challenges are extremely budget friendly. Another great benefit to mix in a virtual approach into your employee engagement strategy!

Additionally, virtual corporate challenges can serve as a powerful tool for talent acquisition and retention. Prospective employees are increasingly looking for employers who prioritize their overall well-being, making corporate challenges an attractive offering. Moreover, organizations can harness the competitive spirit of these challenges to motivate their workforce and align their values with the company’s goals.

Choosing the Right Virtual Corporate Challenge Provider

A good amount of providers of corporate challenges now exists, catering to various needs and preferences. When selecting a provider, several factors should influence your decision:

  • Product Flexibility and Customization: The ability to tailor the challenge to your organization’s unique requirements is crucial. Look for providers who offer a platform that can be customized to align with your goals while keeping your budget in consideration.
  • Budget: Cost is an essential driver in the decision-making process. Ensure the provider aligns with your budget while still offering the desired features and support.
  • Customer Success Management: Consider whether the provider offers hands-on customer success management or consulting services. This support can be invaluable, especially if you prefer a more hands-off approach.
  • Variety of Challenge Themes: The corporate challenge landscape has evolved significantly. Look for providers that offer a wide range of challenge themes, such as sports, overall well-being, mindfulness, sustainability, or social impact. teroGO, for example, offers challenges spanning these diverse themes.
  • Data Protection: Ensure the provider complies with robust data protection measures to safeguard employee information. Verify that they do not use or sell employee data in ways that could pose issues for your organization.
  • User-Friendly Interface: The platform’s ease of use is essential to ensure that both administrators and participants can navigate it effortlessly.
  • Support and Resources: Check if the provider offers resources, guides, or best practices to assist you in managing the corporate challenge effectively. Best case is a backend to have direct access to the platform and such resources.
  • Value match: Make sure you like the people who you partner with and that there is a value match! As an example, teroGO is a certified B Corp and Benefit Corporation, so for us clicking with our partners is high up on the priority list. 

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Take the First Step

The best way to determine the right fit for your organization is to experience it firsthand. Some providers offer free trials, including teroGO, which enables you to explore a freemium verison of the platform and its features. However, taking a step further by engaging in a conversation with potential providers can be even more enlightening, special to get to know the people behind the product. A 15-minute conversation can provide valuable insights, it’s a small investment that can lead to significant gains in employee engagement and overall workplace satisfaction.

If you want to know more about teroGO, our corporate challenges or our fully-fletched wellbeing platform schedule a quick chat or try it for free. In any case, we are happy to help you make a positive impact for your organization!

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