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Research data showing the power of partnerships
Hello! Thanks for your request for a list of research data showing the power of partnerships/collaboration! I have compiled a list of statistics and fact-based anecdotes which reflect ways in which collaborations/partnerships are good for life and work. One example of these benefits is that companies who utilize opportunities for collaboration are twice as likely to be profitable and outgrow their competitors. The most useful sources of information I found were the results of various surveys given to executives, employees and businesses as well as reports/studies such as the "The Collaborative Economy" report from Deloitte. Below you will find a deep dive of my findings.
METHODOLOGY
In order to find the information you requested, I searched for a variety of studies, reports, and survey results in order to compile a list of statistics. I also searched for qualitative information and found advice on workplace collaboration from business insiders, as well as a list of historically famous partnerships.
QUALITATIVE RESEARCH
In an article written by William Buist, the CEO of Abelard and founder of the xTEN Club, Buist lays out five key ways in which collaboration is beneficial to overall success.
1) He says that collaboration places employees in alignment with one another and allows them to give and receive feedback which "improves the quality of their thoughts."
2) In a collaborative setting, the "team delivers results collectively" which allows employees to focus on their role as part of a collective, versus focusing on individual tasks. This further allows each employee to operate within their strengths, as well as helping "to build trust among employees."
3.) Collaboration brings together people from different departments and specialties in order to share ideas. This fosters new ideas and the consideration of "different directions that would not have been considered if everyone worked separately."
4) A collaborative environment is creative and therefore encourages innovation, as collaboration allows employees "the freedom to explore new ideas rather than being restricted by the threat of failure."
5) "Collaboration can also significantly reduce communication problems between groups" as well as keeping the work environment energized.
Collaboration can also be beneficial in jobs outside of office environments, as shown in the study: "Managing Risks in the Construction Industry" performed at Dodge Data & Analytics. Senior director of research, Steve Jones says "This study contributes to the growing body of knowledge about the positive impacts of project collaboration." He said, "Early collaboration by team members can lead directly to less project risk and crisis"
In addition to these findings, when it comes to education, research has shown that "students learn more deeply when they take part in projects that require sustained engagement and collaboration."
EXAMPLES OF FAMOUS PARTNERSHIPS
1) The Wright Brothers: In 1903, they "developed the three-axis controls that made flying a fixed-wing aircraft possible." This collaboration obviously changed the world forever.
2) Dr. James Watson and Dr. Francis Crick: Together they "built on the work of the chemist Dr. Rosalind Franklin, and were able to describe the double helix."
3. John Lennon and Paul McCartney: They formed a creative partnership which became "the driving force behind the sound that changed popular music forever."
4. Larry Page and Sergey Brin: The two met as students at Stanford and later founded Google "as a way to experiment with search algorithms."
5. Ben Cohen and Jerry Greenfield: These men worked together to create Ben & Jerry's famous ice cream. Cohen's focus was on the ice cream's texture, while Greenfield focused on the taste.
QUANTITATIVE RESEARCH
Below is a list of interesting facts and figures which help reflect the positive impact of working in collaborations/partnerships.
- "39% of surveyed employers worldwide say people in their organisation don't collaborate enough."
- "3 in 4 employers rate teamwork and collaboration as very important."
- "31% of baby boomers, 40% of generation x and 49% of millennials support social tools for collaboration."
- "97% [of employees surveyed] believe lack of alignment within a team directly impacts the outcome of a task or project."
- "86% [of employees surveyed] cite lack of collaboration or ineffective communication for workplace failures."
- "99.1% [of employees surveyed] prefer a work place in which people identify and discuss issues truthfully" but less than half said their organization does so.
- "90% [of employees surveyed] believe decision makers should seek out other opinions" but 40% of employees said decision makers "consistently failed" to do so.
- "Communication and collaboration through social technologies could raise productivity levels as much as by 20-25%."
- People working in a team reported feeling "71% more creative"; "62% said their standard of work improved significantly and 90% said they felt more confident when co-working."
- "Almost half of organisations see knowledge sharing as the main purpose for social collaboration."
- "A study by analyst house Aberdeen Group found that over the course of a year organisations with an enterprise social collaboration (ESC) policy saw a 96% improvement in the time it takes to respond to customers."
- "Headhunters says feeling connected makes 63% of people more likely to stay with their existing employer."
THE VALUE OF COLLABORATION
- "$46 billion per year is the value of faster-growing, profitable businesses with collaboration at their core."
- "$9.3 billion per year is additional value if companies make the most of opportunities to collaborate more."
According to Deloitte, if a company prioritizes collaboration then they are "five times more likely to experience a considerable increase in employment", "twice as likely to be profitable" and "twice as likely to outgrow competitors."
To wrap it up, the benefits of collaborations and partnerships are many. These benefits range from increased productivity and profit, to building trust and confidence among colleagues, to making everlasting and worldwide changes through the development of inventions and new discoveries. Thanks for using Wonder! Please let us know if we can help with anything else!