Network Teaming not working in RHEL/CentOS 7

I was testing Networking Teaming (activebackup) with a VM hosted on VmWare Workstation and VirtualBox, and the result is, if the active interface is down, the system is not using the backup interface.
Tested on both CentOS / RHEL 7

Please find below the command I have used to configure teaming.

nmcli connection add type team con-name team0 ifname team0 config '{"runner": {"name": "activebackup"}}'
nmcli connection modify team0 ipv4.addresses '192.168.56.150/24'
nmcli connection modify team0 ipv4.method manual

nmcli connection add type team-slave con-name team0-enp0s3 ifname enp0s3 master team0
nmcli connection add type team-slave con-name team0-enp0s8 ifname enp0s8 master team0
teamdctl team0 state

At this stage I am able to see enp0s3 is the active interface and I am able to ping from team0 interface.

But if I make enp0s3 down using

nmcli dev dis enp0s3

command, or uncheck "Cable Connected" in my vmware or virtualbox network setting, team0 fails.
I am getting expected result in

teamdctl team0 state

output, that the other interface is active, after disconnecting the primary interface, but practically team0 is failing to use the backup interface.

Please help me to work network teaming as expected.