By
Oren Todoros,
Updated on March 27, 2024,
4 min read
One of the biggest competitive advantages a company can have today is great teamwork. A team that works well together can achieve great things, while a team that is at odds or lacks communication is unlikely to succeed.
When team members work together effectively, they can share ideas, pool resources, and support each other. This can lead to higher productivity, better morale, and an overall better work environment.
In addition, a strong team can help a company overcome challenges and capitalize on opportunities. When everyone works toward a common goal, overcoming obstacles and achieving success is much easier.
The Business Benefits of Streamlined Teamwork
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Increased customer satisfaction
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If you want your business to succeed, it’s important to foster a culture of teamwork. This means creating an environment where team members feel valued, respected, and supported. It also means allowing team members to collaborate and share ideas. When team members feel like they are part of a team, they are more likely to be engaged in their work and committed to the company’s success.
Thanks to tech, enhancing teamwork is easier and more productive. A study by Smartsheet shows companies that use technology to work together saw a 20% boost in productivity.
Here’s another interesting bit. Atlassian found that 83% of business professionals need the right tech to work together. No wonder Microsoft Teams’ use shot up by 894% in 2020, and Zoom use increased 30 times over the same year.
Of course, team productivity is not easy to achieve. According to Harvard Business Review, poor communication can reduce a company’s productivity potential by 21%. The Muse found that interruptions at work can cost an average of 23 minutes of productivity per incident. This means that if a team of 10 people is interrupted every 30 minutes, they will lose a total of 135 minutes of productivity per day. This is a significant amount of time, and it can be a major obstacle to achieving team goals.
There are several things that teams can do to improve communication and reduce interruptions. One is to establish clear communication channels and protocols. This means having a shared understanding of how team members should communicate with each other and what channels should be used for different types of communication. Another is to set clear expectations about when and how team members can be interrupted. This can help to minimize disruptions and allow team members to focus on their work.
By improving communication and reducing interruptions, teams can boost their productivity and achieve their goals more effectively.
In addition to the above, teams can also:
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Hold regular team meetings to discuss progress and address any issues.
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Create a positive work environment where team members feel comfortable asking for help when they need it.
Turning Insights into Action
This all leads us back to Spike, the leading solution for team collaboration and productivity. Spike Teamspace bundles email, team chat, shared docs, and video meetings into one platform. No more scrambling between apps or drowning in email threads. Spike simplifies communication and organizes your workflow so you can focus on what matters. With all your tools in one place, your team can work with clarity, boost productivity, and drive those big wins.
Stop Being Distracted. Work With A Single Productivity App
To sum up, teamwork makes the dream work, especially with the right tools in hand. Despite the challenges, the future of team productivity looks promising, and we’re here for it!
Key Statistics and Takeaways
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Companies that use technology for teamwork see a 20% boost in productivity. (Smartsheet)
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83% of business professionals need the right tech for collaboration. (Atlassian)
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Work interruptions can cost an average of 23 minutes of productivity per incident. (The Muse)
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Utilizing a platform like Spike can streamline communication and workflow, potentially boosting productivity and overall success.
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The value of collaborating on tasks and exchanging ideas can amount to $1,660 per employee annually, while the resulting quality improvements are estimated at $2,517 per employee each year. (Kyocera)
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Efforts towards teamwork and workplace collaboration contribute to a significant 27% increase in company sales. (Enterprise World)
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A study indicates that collaboration leads to a 34% enhancement in product quality and a 30% improvement in product development. (Frost & Sullivan)
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Fostering collaboration at work directly influences employee morale and loyalty. Employees involved in effective collaboration initiatives are approximately 22% more loyal to their organizations, perceiving a genuine concern for their morale compared to their counterparts. (Deloitte)
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Companies that actively promote collaboration in the workplace witness 5X better performance rates compared to those that neglect such initiatives. (Google research)
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Collaborative working environments significantly mitigate burnout and work-related stress. Studies show that team dynamics are responsible for 92% of work-related stress, emphasizing the importance of meaningful communication and collaboration at work in reducing stress levels and preventing burnout. (Harvard Business Review)
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Successful collaboration at work sparks a notable 30% improvement in innovation levels. Companies that embrace collaboration are not only 30% more innovative but also exhibit at least 36% higher productivity compared to non-collaborative counterparts. (Frost & Sullivan)
Oren Todoros
Oren is a strategic thinker with over 20 years of experience in the marketing industry and is the current Head of Content Strategy at Spike. He's also the proud father of 3 beautiful daughters and a dog named Milo.