In a previous post I focused on the importance of removing the “I’s” from teams. Certainly there are important barriers to effective teamwork that need to be addressed, but pressing through such barriers is worth the effort. Here is a quick overview of the benefits, bottom line, and basics of collaboration.
The Benefits of Collaboration
Engaging a related topic to teamwork—collaboration—a recent article in the Harvard Business Review highlights benefits to collaboration in the professional service sector. In this article, Heidi Gardner identifies collaborative work across expertise boundaries as a key path for addressing complex issues and increasing overall profitability. In this study, collaborative models were associated with increased margins, increased client loyalty, and increased competitive edge.
The Bottom Line of Collaboration
Emphasizing this point, Gardner writes: “For a firm, the financial benefits of multidisciplinary collaboration are unambiguous. Simply put, the more disciplines that are involved in a client engagement, the greater the annual average revenue the client generates.” Although there is a learning curve in moving toward collaborative practices, Gardner reminds readers that on this front “perseverance pays off.”
Although I see great value in the use of teams on multiple level, it is helpful to note that the collaborative edge of team practice also proves to be effective from an economic perspective.
The Basics of Collaboration
Gardner provides a few specific recommendations for those seeking to increase their use of collaboration.
- Don’t squeeze your team members “…be fair to the partners you invite onto your team.”
- Deliver what you committed to on time, without reminders.
- Communicate openly.
While there are many factors that contribute to effective collaboration, these are helpful reminders. I appreciate the affirmation of collaborative practice in this piece by Gardner.
How are you tapping in to the benefits, bottom line, and basics of collaboration in your work with others?