There's significant scientific evidence for what is mostly common knowledge - that teamwork has a positive impact on organisational and business performance. In fact, teamwork interventions are amongst the most effective ways to drive better performance.
Out of a variety of organisational change interventions, team development interventions were one of the interventions that had the greatest impact on financial performance.
Macy & Izumi (1993) presented the results of a meta-analysis of 131 field studies of organisational change that appeared over a 30-year period. Group-oriented interventions showed evidence of improving behavioural measures of performance such as turnover and absenteeism. In summary, team-oriented interventions are one of a few subsets of interventions that have the most notable effects on organisational effectiveness, and team-oriented interventions affect both financial and behavioural measures of performance.
Teams that demonstrate better teamwork processes are 20 to 25% more likely to succeed.
LePine et al. (2008) examined over 130 team effectiveness studies. They used meta-analysis to quantify what most of us know from experience – that teamwork matters – and found that teams that demonstrate better teamwork processes are more likely to believe their team can succeed, more committed to their team, and 20 to 25% more likely to succeed.
There is a significant effect of team building interventions on economic performance.
Wolfe et al. (1989) tested whether a team building intervention was associated with economic performance. At the end of the first year of the business simulation, teams that had received the intervention had earned approximately $157,870, whilst the control counterpart had earned $82,890. The conditioned groups made better initial decisions and then proceeded to maintain their advantage over the length of the simulation, suggesting that initial team building will have long lasting financial outcomes.
Organisations adopting teamwork practices as an important element of organisation design tend to excel on several performance dimensions such as employee relations and product quality.
According to Kalleberg & Moody (1994) who analysed the relationship between performance and the team-based work practices.