If you are successful in hiring competent people and building their team spirit you can expect to reap the following benefits of having a good solid team backing up your business.
1. An efficient system – You need to set up good systems in the first place (unless you also hire someone to set up business processes for you) but even if you do so there are still chances that the system won’t work if the people in the team do not follow procedures. If you have a solid team you can be sure that policies and processes will be followed. Even better, you will have feedback (if you have a good information system) in case you need to improve something in your system.
2. Ability to delegate tasks without worries – Since you have an efficient team helping you out you won’t need to worry that delegated tasks won’t be done properly. You can focus on business matters that need your attention more and you can even take a vacation once in a while.
3. Happier employees – By focusing on team building you will be able to acknowledge the contribution of each team member as well as help iron out unnecessary conflicts. This will of course lead to a better working environment, more satisfied employees, and thus an increased over all productivity.
4. Company loyalty – A problem of many company nowadays is that employee turn over rates are becoming increasing. People no longer look for just a steady job and good pay but a job and work environment they can enjoy. You can increase people’s loyalty to your company if you build your team because not only will they stay because of their jobs but because they believe in you and their other team mates.