USING BEHAVIOURAL ECONOMICS TO IMPROVE WORKPLACE COLLABORATION BASED ON PREDETERMINED WORKERS’ AND BUSINESS VALUES

Abstract

We are living in a time where technology is evolving tremendously transforming the traditional way of working. Due to technological development, factors such as general globalization, challenges caused by the current pandemic outbreak, have forced usto perform multifaceted tasks in collaboration with other individuals. As it was reported in the Harvard Business Review (2016) based on research over the last two decades, managers and employees spend half as much time in collaboration. The same study concluded that suggestively the majority of the employee’s workday is spent in communication with work peers. Besides work teams are becoming bigger, diverse, scattered in different locations, and more specialized than beforehand. Even though such teams with the prior mentioned characteristics can face daily challenges, they still can successfully overcome them and endeavor with collaboration. The aim of this paper is to evaluate which are the values that determine successful workplace collaboration. The paper will also investigate how group effort can increase employee satisfaction levels and their overall motivation. Furthermore, conclusions will be drawn on how the improvement of workplace collaboration can generate more value for businesses. The consequential outcome of this paper is knowledge gathered on difficulties employees face daily and how teameffort can stimulate innovations attheworkplace. Furthermore, by applying this knowledge in organizational management, leaders can keep up good teamwork practices as employees undertake progressively more employment of inter‐reliant nature.