When it comes to building high performing teams, it’s not rocket science. You don’t need to wave a magic wand, you simply need to invest time and effort into understanding and developing your staff from the ground up.
The Society of Human Resource Management defines a high performing team as a collaborative, goal orientated workforce that consistently excel.
So how do you create a high performing team? Take a look at our tips below.
How to build a high performing team
Make communication a priority
At the top of the list is communication - an essential element of any strong team. But how exactly can good communication help?
There are countless studies outlining how strong communication makes for better teams. For a start, more regular communication can improve business performance. Business Insider reports that in switching from a single annual employee review to frequent feedback check ins throughout the year, Adobe found a direct correlation to improved business performance.
It has been found that 43% of the most engaged employees received frequent feedback, meaning less frequent communication can lead to lower engagement and poorer results. For example, poor communication can impede project management timelines, with studies showing that 28% of workers state that poor communication as the core reason for missing work deadlines.
Unfortunately, communication is often overlooked in many firms, with some reports showing that up to 74% of employees feel they are missing out on important company news due to poor communication.
Communication doesn’t have to be a one way street either – as well as giving leaders an opportunity to provide constructive areas for improvement, it is an important window to receive feedback from employees as well.
Having a greater understanding of what drives your team can lead to improved performance. Make good communication a priority across all levels of your business and watch its impact on your teams.
Have a clear direction
If every member of a team is aligned with a company’s direction, you’ll see better performance. Balance Careers cite that having a clear direction plays an essential part in effective teamwork.
Shockingly however, only 64% of companies state that they prioritise sharing business values and strategies with their staff, meaning that 36% of companies are yet to focus on this key area.
What exactly does it mean to have a clear direction? It involves a team being informed of a plan and having transparent action steps to get there. A clear direction needs to be laid out to all members of a team in order to thrive - 86% of business leaders say poor collaboration amongst their teams has led to business failures.
Having a clear direction underpins team success; so make sure everyone is aligned to the business direction and has a plan and action steps to get there.
Work on your company culture
How does your company culture add up? Arguably the biggest asset to your business is the people you employ; how aligned they are with your company culture can make or break your team. Forbes found that firms who have a strong emphasis on positive company culture saw a marked increase in revenue growth.
Company culture can be defined as a set of common beliefs and values shared by all company employees. Why is having a strong company culture so important? It’s stated that your company culture will impact your company image, identity and retention.
The way in which senior leadership teams approach leadership has a huge effect on culture. Leaders that operate with a ‘coaching culture’ see huge benefits. A company with a coaching culture lead their teams with a coach mindset, helping teams to grow in an engaging, methodical and constructive manner. Once leaders learn how to be great coaches for their teams themselves, they can teach their teams how to coach their peers effectively too, creating a solid programme throughout all levels of the business.
A study by Randstad found that nearly 60% of employees would leave a job due to toxic culture. Not only does a strong company culture help retain staff, company culture also plays a huge part in attracting new talent. Reports show that 81% of workers factor in company culture when deciding whether to apply for a job.
In addition to keeping employees happy, the way your company views employee development
Offer all levels of your business opportunities for learning & development
Finally, review your company’s learning & development schemes.
Learning & development can be described as the process of offering opportunities for staff improvement. Whether this includes leadership development, training, or coaching and mentoring, the end goal is to enhance your employees skills. CIPD state that employers could plug skills gaps and improve team performance by offering employee learning and development opportunities.
Learning & development schemes should be provided for all members of staff, from entry level through to executive leaders. Investing in leadership teams impacts an entire business - enforcing a positive culture of coaching and continuous development throughout all business levels.
In addition to creating high performing teams, offering your staff L&D schemes can lead to better employee retention. A study by LinkedIn found that 94% of employees said they would stay at a company longer if offered opportunities to develop.
Investing in learning and development schemes for your teams can help team members thrive and become the best version of themselves. CNBC report that 90% of employees being supported in the workplace with mentors are happy in their jobs.
With so much data to suggest learning and development schemes can transform your teams, don’t delay getting started.
Take the stress out of building elite, high flying teams with Wiseup. Learn more about our business coaching & mentoring services and contact our team here.
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