Why Teamwork Matters

Teamwork is essential for a company to thrive however 39% of surveyed employees believe that people in their own organization don’t collaborate enough. It was found that only 14% of companies have workers who understand the company strategy, goals and direction. It is a known problem as 97% of employees believe a lack of alignment within a team impacts the outcome of a task or project and 96% of execs cite lack of collaboration of ineffective communications for workplace failures. Here are some stats as to why teamwork is important.

Lack of teamwork costs a lot of time. Employees spend 20% of their time looking for internal information or tracking down colleagues or help. The average time spent in the office trying to contact customers or colleagues is 74 minutes. 25% of employees frequently go outside their department to look for knowledge.
28 hours a week is spent writing emails, searching for information and collaborating internally. Poorly managed work groups are on average 50% less productive.

Teams that work together well (teams in the top 25%) incur lower healthcare costs. 64% of Millennials would be happier making $40K a year at a job they enjoy, rather than making 100K a year at a job they find uninteresting.

Employee turnover costs a company time and morale and lack of teamwork is a major factor causing an increase in employees leaving. 86% of employees and executives cite lack of collaboration or ineffective communication for workplace failures. Businesses with effective communication are 50% more likely to have lower employee turnover. 75% of employees are leaving their job because of poor management. 27% of employees who plan to leave within the first year cite feeling “disconnected” to the organization. 

So it’s clear Teamwork is critical to business success, so this week we will talk about the ways to get your teams working together.

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