Collaboration is essential for an organization’s growth and productivity. While there are a few differences between collaboration and teamwork, they can still be used interchangeably. It refers to two or more employees working together to achieve defined and shared business objectives. The acronym T.E.A.M in Teamwork has a popular meaning- Together Everyone Achieves More. It is the simplest way to define and explain collaboration.
Teamwork allows the individual members of a team to offer and accept diverse ideas, suggestions, experiences, and perspectives to problem-solving which makes for quick, effective, and efficient resolution of problems. Working solely can be rewarding but collaborating with other people with the same goal in the workplace can be more rewarding in more ways than one:
Improves communication: when people work together, they communicate better and most often in real-time thereby reducing delays.
Creates innovative and higher quality results: when team members brainstorm an idea, the varied and unique perspective tends to yield creative, innovative, and better results.
Improves sense of belonging: people are social beings and so have the need to relate and interact with others. Teamwork provides the avenue to relate with other people and produce quality outcomes. The result is a sense of satisfaction and belonging by team members.
Reduces stress and burnout: the stress and burnout that could happen to one person trying to resolve work issues is shared by all team members, hence reducing stress for individual members.
Increases trust, transparency, and accountability: teamwork and collaboration build trust amongst members and hold individuals accountable to each other.
Increases productivity: teams that work together are more productive because they synergize to produce better quality results faster.
Increases profitability: increased productivity will often yield an increase in performance and profitability, which is a major objective for lots of organizations.
Creates opportunity for learning and growth: teamwork provides lots of learning experiences as each member taps into the wealth of knowledge and expertise of other team members.
Teamwork brings an expanded sense of accomplishment and friendship among team members which is associated with the highest levels of morale and job satisfaction.
When team members feel satisfied, accomplished, and innovative, they are super charged to be more productive and would be less likely to leave such work environment. The retention rate is therefore positively impacted, the cost of employing new hire and training is reduced while boosting the company reputation and brand.
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