Pick a team: Team A has 20 people, each of whom are working eight hours a day, doing exactly what they are told to do, meeting targets but none of them are satisfied with their work. Team B has only 8 people, working the same amount of hours per day, but each of them are highly interested in their work – so much so that they tend to go the extra mile and innovate along the way.
Which one of the two teams would you pick for your business? The answer should be fairly obvious – Team-B, the higher-performing team.
So how do we get to Team B? High-performing teams move fast and move smart. We’re not looking at a crew of workers who do the bare minimum, or need micromanagement. We’re instead looking for a team where each member is capable of being a good leader, capable of innovating, creating and above all – self-starters. What makes high-performing teams work is their cross-departmental synergy. It’s not just one stellar employee, it is a star-studded group of employees. You’re not just doing the work or getting it done, you are looking at ways of doing it faster, better, and cooler! (probably…just us?)
Why hire for a high performing team?
If you need any more reasons to start hiring to optimize performance:
- It’s high-performance! It’s right there in the name. High-performing teams bring better results in less time and less capital spend. Research shows that companies with high-performing teams achieve up to 21% more profitability! We can attribute this productivity and savings to efficiency: what most teams would do with 20 people, high-performance teams could do with 10. The ‘lean team’ drive we have seen in the last decade is nowhere close to slowing down, so make it work for you. Looking for ways to increase profitability? This is one way to do it! (Note: this does not mean work your smaller team harder – this is a surefire way to burnout!)
- Better productivity: Productivity is a strong indicator of performance, and naturally, high-performance means high productivity. 17% higher at least, in fact. Employees that are highly engaged in the ecosystem are likely to deliver more, and faster!
- More collaboration: A key distinction here is understanding that high-performing teams are different from an exemplary employee. A high-performing team comprises of many stars, all of whom understand the power of team spirit and are excellent communicators. No matter how brilliant one employee is, five brilliant people together will be more brilliant. There’s greater power and productivity in functional teams. In fact, cross-departmental collaboration is really only possible if you have teams that focus on that collaborative effort.
- Happier employees: On the surface, high-performance might sound like it demands too much from an employee, but, quite to the contrary! High-performance teams take the pressure off of one single talent and equally distribute it among all the members via collaboration. It’s no wonder then that teams that collaborate seamlessly also see a more positive sentiment among employees. In fact, 37% of employees surveyed said the primary reason for them not leaving their job was that they were part of a great team!
High-performing teams are able to achieve so much because at their core they are highly passionate and highly-engaged. Think about it – high-performance comes naturally when you truly believe in what you’re working on, so a highly-engaged team is a highly-invested one. (Psst. Here’s our guide on how to Improve employee engagement)
How to nurture your high performing teams
So what’s the recipe for teams that are highly engaged, highly productive, and thoroughly invested in the company?
- Working with S.M.A.R.T goals: To build a high-performing team, the first step is to understand what is the team moving towards. Each cog in the machine plays its own role, but they come together to deliver the results and achieve those goals. After we define the collective goals, then you can start detailing each team member’s goals. The best-practice way to set a goal is still S.M.A.R.T - Specific, Measurable, Achievable, Relevant, and Time-Bound. While setting these goals, it is crucial to point out metrics and methods that would help you and your team measure performance and efficiency – your KPIs. Eventually, these goals have to be narrowed down to specific steps and methods, and above all, ensure you are setting the correct expectations and timelines with each stakeholder.
- Collaborate and communicate: As we have discussed above, collaboration is at the forefront of high-performance. In our example, you don’t need 20 people to do a job if you could hire 10 people who have great synergy and comprehension. High-performance teams collaborate seamlessly because they are able to communicate openly and in doing so, they manage, delegate, and keep each person in the chain informed. Each high-performing employee values transparency, sincerity, and accountability within themselves and in their teammates – whether it’s feedback or evaluations, it’s all communicated efficiently. How? Check out our cultivating high-performing lean teams recording to further understand how to open avenues for collaboration and communication within teams.
- Learning and development: High-performing teams tend to focus on less talents, not lesser talents. In fact, for a team of 8 to pull-off what other businesses hire a dozen for, they need greater talent. You don’t need to hire an all-new team or anything, either. Training can engage your employees and just by providing that level of support, you’re well on your way to higher-performance. High-performance teams work on talent density, and they keep those skills at the top of their careers and games. A culture of performance is built upon a culture of constant innovation and improvement, hence, upskilling. Businesses that understand the need for upskilling and career pathing within the organization are more likely to invest in the growth of their employees, and those employees become more invested and productive.
- Make friends with tech: Regardless of the talent and caliber, high-performance teams also need the best tools to ensure their performance doesn’t suffer from tech deficit. Smart businesses understand that! 77% of businesses are already using AI or exploring integration within their processes and that leads to 66% more productivity. Is your business using AI? If not, you may be missing out on some great optimization, and that includes using AI for employee engagement.
- Fostering DEIB: Employees from marginalized segments of society may feel hesitant to engage or participate in the company’s discussions, and we’re all guilty of unconscious bias against certain names, groups, or genders. By creating a work culture that embraces Diversity, Equity, Inclusion, and Belonging (DEIB), we open the door for opportunities that give a fair chance to all of your employees and colleagues. This equity and representation is what enables businesses to move forward with ideas that have never been pitched, stories that have never been told, and above all, helps an employee feel like they truly belong. Remember, an engaged employee is the foundation to building a high-performing team.
At PowerToFly, we understand there is no one-size-fits-all. Every business and within it, every team has different requirements. If you want to build a high-performing team that suits your business needs and are seeking some extra guidance, we offer a customizable solution suite that meets your teams and business goals where you want them. Click here to explore the possibilities!
