Successful Business Leaders Collaborate

What are the key indicators of a successful company? How do some organizations function like a well-oiled machine in which all moving parts synchronize beautifully and efficiently, while others seem to grind gears, veering off-course at the slightest misalignment?

A company is only as efficient and successful as the teamwork that goes into running it. Collaboration in the workplace not only raises morale and drives innovation, but it also increases productivity, generates 4.5 times more talent retention, and leads to revenue boosts. 

Is Encouraging Collaboration Worth Your Time?

One study concluded that effective implementation of collaboration leads to a 21% increase in revenue. Revenue increases are the single most concrete indicator of success in a business. When you begin championing collaboration, your business benefits, your employees are more satisfied, and productivity skyrockets. There are a few methods 

Consider Implementing Cross-Team Collaboration

What is cross-team collaboration, and how does it positively impact your business? Cross-functional collaboration encourages personnel from multiple departments — and therefore differing expertise — to cooperate on a project. A fresh set of eyes has been known to increase quality and productivity.

This method of teamwork eliminates bottlenecks by widening communications between departments. It also stimulates experimentation and innovation, ensures adherence to company values, and allows teams to finish projects more quickly. 

Online Collaboration Platforms

In this age of digital explosion, online collaboration apps abound. If you aren't utilizing and communicating with your teams online, you're actually behind the curve, as 80% of workers use them every day. Effective communication is a cornerstone of a thriving business, and you can choose from a multitude of apps. Slack is a popular and effective messaging app that allows users to file sharing and instant message. Asana is a collaboration platform you can use to assign work to employees, assess workload among team members, and receive real-time progress reports. 

File Sharing While Collaborating

Multiple collaboration platforms offer file-sharing services. File-sharing is a collaborative activity that evenly balances work among teams. If your company consistently uses PDFs for communications, reports, and marketing material, it may be worthwhile to invest in an online PDF converting tool to convert PDF to Word to ensure your team can add to, edit, and perfect these projects. For example, one employee can file-share notes from a company meeting with another who turns the notes into a PDF report and yet another can proofread the report and use the PDF converter to make necessary edits. 

Collaborating by Example

As a business owner, you know your team members look to you to model their work ethics. When you foster an open line of communication with your teams and lead by example in your work by collaborating with your colleagues, your employees follow suit. Adopt an open-door policy in your offices and be accessible to your team. Cross-collaboration isn’t only lateral. Implementing vertical collaboration allows administrators, staff, and executives to work toward a common goal. 

Start Today and Transform Your Company

When goals are aligned and understood, the quality of projects improves, productivity skyrockets, and profits increase. Your team counts on you to lead them to success. Begin fostering a collaborative environment today, and watch the benefits come rolling in.