Discover the secrets to building a high-performing team in this blog. Learn how trust, a shared vision, open communication, and accountability can transform your team's performance.
October 17, 2023
I know you are running a company and making your team perform the best is every founder's dream. When I was starting my journey as an entrepreneur in 2017 the toughest part was to keep my team on the right track and make them as efficient as possible with minimal pressure possible.
The statistics don't lie - high-performing teams are the backbone of successful organizations. According to research, they are 20% more productive and can achieve up to 50% higher profits compared to their less efficient counterparts.
I am not pulling these statistics from the air, this was well-researched by Jim Harter (Ph.D).
I never gave any importance to this and thought who cares "what my team is doing is good enough". Well, that's good and all but it's not optimal for the long run.
There are so many well-known companies in the world who mastered the team-building aspect and the biggest example is "Apple". So, what's their secret? It's not down to luck; it's a combination of traits and practices that we're about to explore.
Think about it – a group of people who work well together, excel under pressure and consistently deliver excellent results.
What Makes a Team High-Performing?
High-performing teams have a shared understanding of their goals and individual roles. Everyone knows what they're working toward and how they fit into the bigger picture.
I will be telling you a few points that can help you create your high-performing team. Here we go...
Create Trust Among Your Team
Studies have shown that companies with high levels of trust are 40% more productive than those with lower levels of trust.
Another survey conducted by Edelman in 2020 found that 75% of respondents said they trusted their employer to do what's right, showing that trust isn't just a nice-to-have; it's a business essential.
Although it may be difficult to trust your team at first, it will ultimately prove to be beneficial. When team members trust one another, they are more likely to communicate openly, and there's no need for micromanagement.
If you are checking on them every minute then you doing it wrong.
Trust is the key pillar of Remote+Async teams!
This empowerment of the Individual Contributor fosters:
- Alignment with the company's goals - Ownership + Accountability for the outcomes - Independence to seek feedback
As a soccer fan, I can provide an example related to this topic. If each player on the field were to follow a different playbook, it would result in chaos. However, when they share a common strategy and understand the goal, the game changes entirely. Every player knows their role and how it contributes to the team's success. This unity and clarity help them avoid misunderstandings and conflicts.
At Levelsonic, we've got this fantastic group of brilliant minds working on a game-changing project. They're already passionate about what they do. But here's where the magic happens. When they understand the greater impact of our innovation, it fuels their dedication.
It's the kind of thing that turns a regular job into a mission, and that's when extraordinary things happen.
Companies like Tesla and SpaceX are prime examples of a shared vision. Tesla accelerates sustainable energy and SpaceX aims to make life multi-planetary. These visions unite and inspire teams making them highly productive.
Magic Happens When Team is Not Afraid to Speak Up
"Hey, we're all in this together, and our voices matter" That's the kind of vibe you want. No judgment, just good old collaboration.
I have been in this kind of meeting where the employees are just nodding their heads. Instead of this, you want your team to say "What if we looked at it this way?"
Sometimes, younger or newer employees may be hesitant to share their thoughts. In these situations, it is your responsibility to step up and motivate them to contribute. Over time, as these new team members gain confidence, they will open up more and become more active contributors.
When everyone is sharing their thoughts then it's like watching new voices and fresh ideas breathe life into the team.
Let's set the stage for a culture that's all about making failure okay. When people are too scared to mess up, it stops them from speaking their minds or taking chances, and that can really put a damper on innovation.
Clear Goals and Tasks Should Be The Priority
Assigning tasks verbally is a big "no-no" in my book, and I can say that from personal experience. When I was just starting as a founder, I made this mistake myself. I quickly learned that clear, written communication is key to ensuring tasks are understood and executed effectively. It eliminates misunderstandings and provides a record for accountability, making the entire process smoother and more efficient.
Can I suggest one thing? Consider implementing a resource management software like Levelsonic. No more task delay plus it has a built-in leveling system for your employees to reduce turnover that can cost a company tens of thousands of dollars. Just give it a try. Trust me, you won't go back. It's a game-changer for team performance and accountability.
Manage Conflicts Like A Pro and Create A High Performing Team
We are all social creatures and we tend to get into arguments. Well, it's not new. Now, let's talk about resolution. When conflicts arise, don't jump to conclusions or take sides. I repeat "DON'T TAKE SIDES".
Alec McPike & Innerbody did a survey and found out that approximately one-third of survey participants reported encountering conflicts attributed to various forms of discrimination, including:
Racial (28%)
Political (28%)
Age (31%)
Gender (33%)
If the two employees are constantly in conflict, minimize their interaction by assigning tasks that don't require collaboration. If you can take just this point from this blog then I think its totally worth it.
Accountability Matters for High Productivity
We did not talk about revenue throughout but I want to mention one thing I came across recently. Are you ready for this?
Harvard Business Review did a survey and discovered that organizations with strong accountability processes can experience a whopping 40% higher revenue growth. Yep, 40% revenue growth, can you believe it? So, here's the thing - when you've got processes that clearly define who's responsible for what and everyone knows what's going on, it builds trust. And trust is like gold for a high-performing team.
The Harvard Business Review survey results provide concrete evidence of the business benefits associated with a culture of accountability.
I will end this blog and I hope you all learned something new today. If you are having trouble with team performance issues, Levelsonic will help you overcome that. See you in the next one!
No fluff only tactics to boost productivity
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Ankit P.
Ankit is a visionary entrepreneur and a leading expert in the realms of B2B enterprise and technology. As the founder of Levelsonic, he has demonstrated an exceptional aptitude for innovation and a profound understanding of the ever-evolving landscape of business-to-business interactions.
