Interested in Virtual Team Building Events?
9 mins 
1. Why Do You Need Team Building Activities For Finance Department?
1.1. Enhances Communication & Collaboration
Team building activities for finance departments open up opportunities for your employees to spend time with each other outside a professional environment. Such events will help them develop stronger bonds with team members, improve workplace communication, and boost productivity and collaboration.
1.2. Builds Trust & Rapport
Most team building activities for finance departments require the attendees to work together to solve problems and puzzles. This makes a great foundation for building trust. This is especially beneficial if your finance department has a lot of new hires.
1.3. Boosts Morale & Motivation
Crunching numbers and making monetary decisions all day can be taxing for anyone. This is why fun, engaging, and specially tailored team-building activities for the finance department can help them release some stress and boost morale. Out-of-office activities that they can do with their colleagues can make a positive difference in your employees’ perception of work.
1.4. Improves Decision-Making Skills
Through these games and activities, employees spend a lot of time with one another in a relaxed setting. They are given the opportunity to learn more about each other, which builds a base for trust. And the more they trust each other, the easier it becomes for them to make important decisions in the workplace.
2. 10 Team-Building Activities for the Finance Department
2.1. Talent Show
Talent shows are a fun and relaxed way for employees to learn about their coworkers while celebrating their individuality. It doesn’t take a lot of effort or time to organize and can be done on a small budget, too. Most of the work will be done by those who are performing in the show. Simply book an event hall or conference room and order some food, drinks, and decorations for a fun show.
These shows are excellent icebreakers for teams with many new hires in the past few months. What’s more, it gives old and new employees the opportunity to showcase their non-work-related interests and talents in front of everyone. And that’s not all. Such an event is an excellent opportunity for employees to improve their public speaking skills and boost their confidence. Not only does it promote camaraderie, it also gives managers a chance to evaluate their teams’ strengths and weaknesses.
2.2. Treasure Hunt
Played in groups, a treasure hunt involves solving multiple puzzles and hints to find an item designated as the “treasure.” To organize this, you must look for a suitable location for the hunt and come up with the hints to lead participants to the final treasure.
Depending on your team size, you can have the hunt on the office campus, a local park, or an event ground. To play the game, you can divide your team into groups of four or more. Then, set specific rules and a time limit for them to solve all the clues.
Treasure hunts are outdoor activities that require the use of critical thinking and problem-solving skills. All the while, participants must be able to collaborate and communicate clearly with everyone in their team to emerge victorious.
2.3. Financial Quizzes & Trivia Questions
Quizzes or trivia games are very easy to set up and don’t require a lot of time off, either. You can set up games yourself by using random trivia generators found online or creating your own list of questions. Then, divide your employees into teams, and you can start playing the game! Set rules and parameters for a fun time, and prepare prizes for the winners.
You can design the quiz around your company culture or finance department to boost morale and engagement. These simple games are a great way to help team members learn more about their department and the company as a whole. It also encourages the employees to work together to answer certain questions.
2.4. Escape Room
Escape rooms involve separating your team into groups and trapping them in different rooms. Each group is required to solve riddles and puzzles to find the exit. These escape quests are often based on a theme and must be completed within a time limit. You can even take on these challenges with a remote team—simply book a virtual escape room.
This is a fun and unique activity that will help employees maximize teamwork and engagement. Finding an escape in the allotted time requires the players to think outside the box and put their problem-solving and communication skills to use. The time limit provides a fun framework in which everyone can enjoy the challenge.
2.5. Budgeting Challenge
A budgeting challenge is a brilliant team building activity for the finance department. It involves assigning small teams that will compete against each other to create a budget for a fictional department or project. You can set it up similarly to any other budgeting project they tackle on a regular basis.
This type of challenge is a great activity that will bring out your finance team’s competitive spirit. By separating them into smaller groups, they can use their acquired knowledge and skills to fulfill the brief. And because the activity revolves around budgeting, they can show off their financial planning expertise. You can also up the challenge by promising a reward for whichever team comes up with the most detailed and practical budget.
2.6. Community Projects
Engaging in community service stands out as an exceptional choice for team building activities for finance departments. The beauty of it lies in its simplicity – all you need is a bit of research to connect with local advocacy groups where you can pitch in your time and energy. You might consider collaborating with animal shelters, schools, community centers, gardens, or lending a hand at a soup kitchen. Alternatively, organize a cleanup initiative at a nearby beach or park. If your team is eager, you can even turn this into a regular event, occurring weekly or monthly. It's a win-win way to foster team unity and make a positive impact on your community.
These projects unite team members to work toward a common goal that works wonders for the community. It boosts morale and fosters positive feelings about their work, coworkers, and company. What’s more, such projects can improve your employees’ sense of commitment toward their work and bring out their leadership skills.
2.7. Financial Jeopardy
Imagine the classic game of Jeopardy, but with a financial twist! Financial Jeopardy plays just like the original, with participants receiving answers in the form of trivia clues, which they must then respond to in the question format. The twist? It's all about finance! All you have to do is dig up relevant questions.
If you're looking for a customized game tailored to your finance department, Financial Jeopardy is a fantastic option. Setting it up is a breeze. The best part is that it encourages participants to share financial knowledge in an engaging and interactive way. Just be sure to keep the questions strictly professional and finance-focused.
2.8. Financial Case Studies
In this game, you divide your team into groups and have them analyze real or fictional finance case studies. The teams are given a time limit to complete the task and present their findings. The team with the best analysis wins.
This activity takes inspiration from case study competitions, which are designed to evaluate the participants’ analytical and problem-solving skills. It encourages healthy competition among your employees while motivating them to perform better.
Another benefit of a case study competition is that it develops leadership skills and confidence in the participants. Everyone must think critically to arrive at a solution and then present it in front of others in an engaging and informative manner. So, your employees get to work on their presentation skills through a low-stakes activity.
2.9. Corporate Retreats
Corporate retreats are like an all-in-one package, offering a wide range of team building activities for your finance department. These off-site events provide your employees with a welcome break from the daily office grind, allowing them to engage in team-building activities, conduct meetings, and brainstorm together.
Depending on your budget and time constraints, these getaways can range from a single day to several, providing ample opportunities to foster team cohesion and enhance productivity.
2.10. Financial Simulation Games
Financial simulation games require the players to find solutions to real-world or hypothetical scenarios related to the world of finance. These games come with time limits where teams compete against each other to come up with the best possible solution for the given scenario. Unlike budgeting games or case studies, these simulation games can cover many different hypotheticals.
If you want to combine a training session and a fun group activity in one go, simulation games are just the solution. The hypothetical nature of the problems encourages team members to push their creative thinking and analytical abilities. This is rarely possible at work, where the stakes are too high for employees to go through thought experiments.
Regardless of whether your employees win or lose, they get to engage in finance-related competitive gameplay for a couple of hours. The simulated nature of the activity also gives them some practice for a successful collaboration with teammates at work.
3. FAQs
3.1. What Are the Core Activities of the Finance Department?
The finance department’s core activities involve handling income, cash receipts, payroll, expenditures, investments, cash flow management, and many more. The finance department is also responsible for tasks related to financial management, such as accounting, reporting, economic analysis, financial statements, and taxes.
3.2. How Would You Create Teamwork in the Finance Department?
To create teamwork in the finance department, start by developing a shared set of core principles and goals. The next step is introducing new tools, activities, and opportunities to help foster communication and strengthen relationships between team members. Lastly, recognize successful teamwork and reward the best workers and leaders in the department.
