The Collaborative Economy – unlocking the power of the workplace crowd

Unlocking the power of the collaborative crowd is delivering major benefits for the national economy, and can help Australian businesses meet their productivity and innovation challenges.

Deloitte was asked by Google Australia to quantify the value of greater workplace collaboration, and the number is big:

• $46 billion per year – the value of faster-growing, profitable businesses with collaboration at their core
• $9.3 billion per year – additional value if companies make the most of opportunities to collaborate more.

Companies that prioritise collaboration are:

• Five times more likely to experience a considerable increase in employment
• Twice as likely to be profitable
• Twice as likely to outgrow competitors.

Yet more than half of Australian businesses have no collaboration strategy. As a result they – as well as the national economy – are missing out on what are very significant benefits.