Why Collaboration is Key

The past decade has seen a new way of working. With technological powerhouses such as Google on the rise, collaborative efforts within the workplace have significantly shaped the workspace and its efficiencies today. Especially within Australia, a number of companies, some incredibly well-known, have shifted towards Google Apps in order to effectively power their IT. In fact, studies have proven that collaborative efforts can result in serious benefits to not only the business, but the government as well.

Deloitte recently conducted a survey (you can find this here), which aimed to unlock the power of the collaborative crowd. It explored the major benefits of collaboration to the national economy, and whether it could help Australian businesses meet their productivity and innovation challenges. They were asked by Google Australia to quantify the value of greater workplace collaboration, and they found:

• The value to the Australian economy of faster growing, profitable businesses with collaboration at their core is $46 billion per year
• If companies make the most of their opportunities to collaborate more, the value is around $9.3 billion per year
• Companies that prioritise collaboration are:
• - Five times more likely to experience a considerable increase in employment
• - Twice as likely to be profitable
• - Twice as likely to outgrow competitors

For the full report click here.

From the results of this study it’s clear that collaborative businesses are reaping the benefits of not only quicker expansion, but furthered financial profitability as well. The positive aspects of collaboration to the national economy add almost $50 billion annually, showing their vast contribution to Australia on the whole. The fact that companies have a 200% chance of being profitable if they engage in collaborative activities just shows the importance of technology of this sense in the workplace. And yet, the statistic that is most surprising is that more than half of Australian businesses have no collaboration strategy at all. And because of this, they (as well as the national economy) are missing out on some extremely significant benefits.

Nine years ago, Google saw an opportunity with Google Docs to build a software feature that would enable people to work together in new ways. Now, it’s a great time to take advantage of its collaboration tools in order to create a more efficient workplace, and all in all, businesses should find that Google offers the perfect tools for work.

If you examine the benefits of collaboration, businesses end up profiting from it. If companies made the most of their opportunities to collaborate, the research proves how beneficial it can be, not only to the company but to the government. If you’d like to learn more about the benefits of Google for Work, feel free to send me a message and I’ll be happy to give you a call.