Building High Performance Teams
A business greatly benefits & grows financially by having high performing teams. In fact, every business desires to have such a team. Let us explore some topics around building a high performance team, such as :-
- How can a business leader nurture the team to become a high performing team?
- What does it take to build high performing teams?
- What are some of the key ingredients of a high performing team?
Here is a simple framework to transform your team to the next level of performance. This matrix focuses on combining the capabilities and skills of the team members that can result in having a high performing team. The teams’ capabilities when combined with the skills can produce an enormous impact within the team and thereby to the organisation at large. How are you leveraging on your teams’ strengths? What are the traits of a high performing team that your team can emulate? Refer the matrix below to induce high performance into your teams.
|TRAITS OF HIGH PERFORMING TEAMS|
|Capability/ Skill||Thought Process||Execution||Management|
|-Roles & Responsibilities
|Growth||-Safe Environment Solutions
By building high performance teams, you win as a leader and so also the organisation, which can be benefitted by the financial growth. The team members feel valued and feel they have contributed to the organisation’s growth. The organisation stands to gain financially and in the process can reward the teams well.
The teams’ capabilities when combined with the skills can produce an enormous impact within the team and thereby to the organisation at large.
As a Business & leadership Coach, I have noticed that some business leaders do not like to invest in the growth and development of the team members with the fear that they might move out of the current organisation and start a competing business or join a competitor. However, remember that if they continue with your organisation, then you are at a loss if they don’t speed up and perform well. A business always faces different risks – so is this – yet another risk of losing a good employee. Therefore, as an entrepreneur / business head, you need to take that risk of moulding, shaping, grooming and investing in the growth of your team members.
A business always faces different risks – so is this – yet another risk of losing a good employee. Therefore, as an entrepreneur / business head, you need to take that risk of moulding, shaping, grooming and investing in the growth of your team members.
Watch out for these common mistakes
The common mistakes that businesses commit regarding the rewards & recognition & other employee related issues :-
- Failing to understand that rewards have a deep emotional value to it.
- Not addressing the elephant in the room such as internal biases and nepotism.
- Not measuring the collective performance of the team or not defining the metrics to measure the teams’ performance.
- Not defining clear KRA’s & KPI’s for the team members.
- Not contributing to the career progression of the employee.
- Not offering sufficient challenges for growth nor offering any learning and development for the employees.
- Not displaying empathy when required.
- Turning a deaf ear to employee grievances.
- Not answering questions on increments, bonus, promotions etc. thus paving way for unwanted grapevine within the organisation.
The above is an extract from the author’s book “Where’s The Moolah?”, which is about financial growth hacks for business profitability.