“Great things in business are never done by one person. They’re done by a team of people.” -Steve Jobs

The business world has always been profit-driven and that’s quite obvious because the high-profit margin is what makes a business successful. However, teamwork and collaboration are equally important and form the fundamentals of any successful business. When all the employees together share a common goal, combine their strength & zeal, and help and encourage each other when needed, an organization is bound to strive and succeed.

Therefore, the significance of developing a collaborative workspace in an organization should never be underestimated as it’s a key component. Here’s why teamwork matters more than money:

Teamwork increases productivity

“Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishment toward organizational objectives. It is the fuel that allows common people to attain uncommon results,” said Oliver Wendell Holmes.

In a team, the workload is shared among different team members depending upon their skillsets. Team members, when work together, complete a task in a shorter time frame than a single person ever could.

Furthermore, different team members can have different approaches to problem-solving. As new ideas are welcome on the table, brainstorming sessions help them find solutions, that for sure would not have been possible by one single individual.

Teamwork fosters cooperation

“We cannot accomplish all that we need to do without working together,” said Bill Richardson.

Imagine a situation where employees are unaware of each other’s tasks. They would end up unwittingly duplicating their efforts to no great advantage. Now imagine a situation where each team member focuses on accomplishing certain aspects of a project. This would encourage the making of a cooperative team that would be achieving goals using far less time and energy.

Cooperation also facilitates communication by fostering an environment of mutual support in which each team member feels supported by the other team members.

Teamwork Builds Relationships

“Good teams incorporate teamwork into their culture, creating the building blocks for success,” said Ted Sundquist.

As human beings, we tend to do things for people we like. However, we also tend to like the people for whom we do good things. This is called the Benjamin Franklin effect. Teamwork improves relationships as it allows everyone involved to help each other. The more you help each other, the stronger the bond becomes.

When each team member supports the other, it builds relationships based on mutual trust and respect. Positive team relationships make employees more comfortable, hence increasing their productivity. A good team that works together fosters a spirit of loyalty, synergy, and camaraderie.

Teamwork Is The Gateway To Creativity

“Talent wins games, but teamwork and intelligence win championships,” said Michael Jordan.

And that can happen with different creative minds put together into one task. People with different skill sets, abilities, and experiences do not only produce better results but also share their knowledge with each other. They grow together and improve their abilities and skillsets. They learn from each other’s experiences and keep discovering new ways of doing things from each other.

Furthermore, while teams can be creative, team creativity doesn’t just happen with a snap of a finger. Effective collaboration between different employees leads to more creative ideas and therefore, a more productive team.

Teamwork Leads To Increased Accountability

“A culture of accountability makes a good organization great and a great organization unstoppable,” said Henry Evans.

Employees who work alone are most likely to experience low morale while those working with teams feel accountable for their work, especially if they are working with experienced, and respected employees in the organization. As they work with experienced employees, they complete their projects ahead of the deadline due to increased productivity and efficiency, which benefits the organization.

Teamwork Creates An Enjoyable Work Environment

“If everyone is moving forward together, then success takes care of itself,” said Henry Ford.

When employees work close to each other, they get to know more about each other and develop a liking for each other. The more they work together, the more they learn to live with each other’s dislikes, strengths and weaknesses. They also help each other cope with weaknesses and capitalize on strengths. When they learn to work together, the team becomes more collaborative and efficient, thus leading to a more enjoyable work environment for everyone in the organization. And it would be quite obvious to say that a pleasant work environment always encourages more productivity.

No organization is perfect. Every business faces hurdles and challenges but real testing begins when a collaborative team stands with each other, relies on each other and seeks guidance and support from each other. This enables them to focus on the company’s vision and carry out their duties in the most responsible manner and achieve heights in their careers. Remember what Pat Riley once said, “Great Teamwork is the only way we create the breakthroughs that define our careers.”