Collaboration among workers is always a key to an organization’s success...
However, during a crisis like the one we are currently living through, collaborating effectively can be a key differentiator from your competition.
A study published in the Harvard Business Review (HBR) collected ten years of data to study the link between collaboration and financial performance across dozens of professional service firms, financial institutions, and health care organizations, starting from the 2007-2008 financial crisis. The results showed that organizations with the most highly collaborative workers grew their business during the crisis. The business of the middle group declined slightly, and the least collaborative companies suffered lost revenue which still hadn’t been recovered five years after the recession ended.[1]
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