The Secrets of High Performing Teams
“If You Want To Go Fast, Go Alone. If You Want To Go Far, Go Together.” – African Proverb
In today’s fast-paced business environment, the success of an organization often hinges on the performance of its teams. High-performing teams result from specific practices, mindsets, and dynamics that foster excellence, not just from assembling talented individuals. Have you ever been in a company where “after meetings” occur after the official meeting, or where everyone knows a project is failing but no one acknowledges it? These are clear indicators of poorly performing and unhealthy teams.
This article explores the secrets of high-performing teams, identifies common gaps, and offers actionable approaches to enhance team performance. Leveraging these insights can transform your team into a powerhouse of productivity and innovation.
4 Success Secrets for High-Performing Teams
1. Psychological Safety
Research by Google’s Project Aristotle revealed that psychological safety is key to high-performing teams. When team members feel safe to take risks and be vulnerable, it fosters an environment where innovation thrives. Such teams are more likely to utilize diverse perspectives, leading to better decision-making and problem-solving. A Deloitte study found that organizations with strong psychological safety saw a 27% reduction in turnover, a 40% increase in employee engagement, and a 12% boost in productivity.
2. Clear Goals and Roles
High-performing teams have a clear understanding of their goals and the roles each member plays in achieving them. This clarity aligns efforts and ensures that everyone is working towards the same objectives. A study by the Harvard Business Review found that teams with clear goals and well-defined roles are 2.5 times more likely to achieve their targets. Furthermore, research by Gallup indicates that employees who strongly agree that they have a clear job description are 30% more likely to be engaged at work.
3. Continuous Learning and Adaptation
High-performing teams prioritize continuous learning and are not afraid to adapt their strategies based on feedback and changing circumstances. They embrace a growth mindset, viewing challenges as opportunities to learn and improve. This adaptability is crucial in navigating the complexities of today’s business landscape. A report by Bersin by Deloitte revealed that organizations with a strong learning culture are 46% more likely to be first to market and have 37% higher productivity.
4. Strong Communication
Effective communication is the lifeblood of high-performing teams. It ensures that information flows seamlessly and that everyone is on the same page. According to a report by McKinsey, organizations with effective communication practices are 3.5 times more likely to outperform their peers. Moreover, a study by The Economist Intelligence Unit found that poor communication is responsible for an average loss of $62.4 million per year in organizations with 100,000 employees.
Common Gaps in Team Performance
Despite the known benefits of the above practices, many teams still struggle to reach their full potential. Here are some common gaps:
1. Lack of Trust
Without trust, teams cannot function effectively. Trust issues often arise from poor communication, lack of accountability, and previous negative experiences. Teams that lack trust are less likely to collaborate and more likely to encounter conflicts. A study by PwC found that organizations with high levels of trust are 2.5 times more likely to be high performing.
2. Poor Conflict Resolution
High-performing teams do not avoid conflict; they manage it constructively. Poor conflict resolution can lead to resentment and decreased morale. Teams that lack effective conflict resolution strategies often struggle to maintain cohesion and focus. A report by CPP Global found that employees spend an average of 2.1 hours per week dealing with conflict, amounting to approximately $359 billion in paid hours in the U.S. alone.
3. Insufficient Feedback
Feedback is essential for growth, but many teams fail to provide regular, constructive feedback. This can result in stagnation and missed opportunities for improvement. Teams that lack a culture of feedback are often unaware of their weaknesses and blind spots. A study by Gallup revealed that employees who receive regular feedback are 3.5 times more likely to be engaged than those who receive none.
4. Resistance to Change
In a rapidly changing business environment, resistance to change can be detrimental. Teams that are not open to new ideas and approaches are likely to fall behind. Resistance to change often stems from fear of the unknown and a comfort with the status quo. A report by McKinsey found that 70% of change programs fail, largely due to employee resistance and lack of management support.
Approaches to Improve Team Performance
To bridge these gaps and enhance team performance, consider the following approaches:
1. Foster Psychological Safety
Create an environment where team members feel safe to express their ideas and take risks. Encourage open dialogue and celebrate failures as learning opportunities. Implement regular team-building activities to strengthen relationships and build trust. Google’s Project Aristotle found that teams with high psychological safety were more likely to make use of their teammates’ ideas and less likely to leave Google.
2. Define Clear Goals and Roles
Ensure that each team member understands their role and how it contributes to the team’s objectives. Regularly revisit and adjust goals to keep them relevant and challenging. Use tools like OKRs (Objectives and Key Results) to track progress and maintain alignment. John Doerr, the author of “Measure What Matters,” found that organizations using OKRs saw a 3.5x increase in productivity compared to those without a goal-setting system.
3. Encourage Continuous Learning
Promote a culture of continuous learning by providing opportunities for professional development and encouraging knowledge sharing. Implement regular retrospectives to reflect on what worked, what didn’t, and how the team can improve. Research by the Association for Talent Development found that companies that offer comprehensive training programs have 218% higher income per employee than companies without formalized training.
4. Enhance Communication
Invest in communication tools and practices that facilitate transparent and timely information sharing. Encourage regular check-ins and stand-up meetings to keep everyone informed and aligned. Provide training on effective communication techniques and conflict resolution. A study by Towers Watson found that companies with highly effective communication practices have 47% higher total returns to shareholders compared to firms with poor communication.
How My Advisory Services Can Help
As an executive advisor, I specialize in transforming teams and organizations to achieve their highest potential. With extensive experience in strategic leadership and operational excellence, I can help you:
- Build Trust: Develop a culture of trust and psychological safety within your team.
- Clarify Goals: Define clear, actionable goals and roles that align with your strategic objectives.
- Foster Learning: Implement continuous learning practices that drive innovation and growth.
- Improve Communication: Enhance your team’s communication and conflict resolution skills.
By partnering with me, you can unlock the full potential of your teams and drive sustainable success.
About Ken Gavranovic
Ken Gavranovic is an accomplished executive and thought leader known for driving transformative growth and successful acquisitions in both public and private companies. As CEO of Actionable, Ken leverages his extensive experience, having overseen 1 IPO, 3 public companies, 35 M&A integrations, and 18 exits. Previously, as EVP & GM at New Relic, he led M&A efforts, reporting directly to the CEO. Ken’s diverse background spans CEO, CMO, CRO, CPO, and CPTO roles, bringing unparalleled insights and expertise to leadership and organizational transformation.
PS: Powerful Questions to Gain Insights
1. Am I Accountable?
- Employees want ownership of their work and to have their compensation reflect it. However, they may not feel accountable due to unclear roles, lack of authority, fear, lack of connection to their work’s purpose, or not seeing accountability modeled by leaders.
2. Do I Belong?
- A sense of belonging drives productivity and engagement. Employees might feel they don’t belong due to misalignment with company culture, under- or over-utilization, or if their job doesn’t bring out their best.
3. Am I Measured Fairly?
- Fair measurement requires transparency, alignment of metrics with values, consistent criteria, and clear justification for changes. Employees need to know the rules are fair and stable.
4. Is My Opinion Heard?
- Employees need to know their feedback is valued and acted upon. This involves regular feedback opportunities, transparent communication of actions taken, and a culture that encourages open dialogue.
5. Am I Being Developed?
- Employees want growth opportunities. Lack of development programs, ambiguous career pathways, and unhealthy competition can stifle their growth and engagement.
6. Do I Have Balance?
- Balance is crucial to prevent burnout. Companies must ensure clear processes, adequate staffing, and a culture that supports work-life balance.
7. Do I Believe?
- Employees need to believe in the company’s mission, vision, and values. If they feel disconnected, it can impact their engagement and performance.
Implementing the 7 Yeses
To achieve these “yeses,” conduct leadership forums to prioritize improvements based on employee feedback and use regular company-wide surveys to maintain engagement. This approach has led to a 30% increase in overall employee engagement scores. Gartner reports that enhancing your Employee Value Proposition can result in a 28% rise in employees likely to recommend the organization, a 40% increase in high performers, a 6% increase in intent to stay, a 7% boost in wellness, and a 9% increase in employees likely to accept the job again.
With the right formula and tactics, you can navigate the challenges of today’s business environment and build a high-performing team.
