Published 03 January 2018 Category: Entrepreneurs, SMEs, Startups, Business

The Benefits of Collaboration

The way in which business is conducted has changed beyond all recognition in the last twenty years. With the growth of the internet, the world has shrunk. With the adoption of email, co-working spaces, and an ever changing economic environment, companies have had to adapt and change working practices.

As a leading provider of serviced offices and shared workspaces, Compass Offices has witnessed the many benefits that can be enjoyed when companies work together. Let’s highlight some of those below.

Financial Benefits
The main aim of any business is to generate a profit, the higher, the better. For many smaller companies, some of the more common challenges they face include having sufficient purchasing power to benefit from economies of scale, and the inability to bid on larger contracts due to having insufficient numbers of staff. By working in collaboration with other businesses of a similar or larger size, both of these issues can be quickly and easily solved, enabling both organisations to grow and benefit from the collaboration.

Human Skill Sharing & Motivation
Although the bottom line of business is to make a profit, not everything has to revolve around money. When companies cooperate and work together, new skills can and inevitably will be shared among staff. Friendships will develop, jobs will be saved, and potentially new ones created. Staff will become more motivated and enthusiastic, and a happy workforce is a more productive one.

Employees Become More Role Focused
Another problem that small companies often face is that staff have to complete tasks for which they are neither equipped nor qualified for. Although they may be able to complete the job, the standard may not be as high as the company would desire. The mindset of the company could be described as task focused, with employees more concerned about completing their tasks, rather than excelling in their role. When companies collaborate, a role focused ethos takes over.

People will talk to each other and concentrate on their areas of expertise, ensuring that standards increase dramatically. Employees who are uncertain how to resolve an issue will feel more empowered to ask for help, especially for a task that does not fit into their defined role.

Collaboration Encourages New, Innovative Ideas
Many employees perform a task in a certain way because it has become a habit. Perhaps that was how they were taught to do it, or maybe it is muscle memory, but either way, they have become stuck in a rut. This can and does apply to entire organisations, sometimes without even being recognised. When two companies start to work together, a new set of eyes will notice and question certain methods.

For instance, an interior designer might ask their new colleague, the office manager, why the desks are arranged in a certain fashion. It may be a quick and simple process to move things around and create a better working environment. These new ideas can introduce new concepts into the business, improve processes, and even increase productivity. None of this is necessarily a criticism of current working practices, but sometimes people with no inside knowledge can spot something that could quickly and easily be changed to improve efficiency or organisation.

There are a large number of benefits to be had from collaborating with other companies, with the above four ideas only scraping the surface. Don’t be afraid to embrace these ideas and start becoming intentional in looking for prospective companies to partner with.

At Compass Offices, we are a forward thinking company who have constantly embraced change and have benefitted as a result. We have learned new skills, developed partnerships, and assisted our company in its trajectory and growth. The ideas and articles we publish on our blog are posted from experience, with the intention of assisting and encouraging our readers to benefit from our journey. Check out the rest of our blog for more information.