April 30, 2023
If you are an L&D leader who wants to stay ahead of the curve and ensure that your company is performing at its best, improving team effectiveness across your organization should be at the top of your agenda.
Many companies recognize the strategic impact of team effectiveness. In today's fast-paced business world, teams, more than individuals, are making difficult decisions, designing new products, driving innovation, and solving the toughest problems. Moreover, team experience is one of the most significant drivers of attracting, motivating, and retaining employees.
The impact of team effectiveness on business results is well-documented. Highly engaged teams exhibit greater profitability, elevated individual performance, and improved employee retention. Additionally, a study by McKinsey & Company reveals that improving internal collaboration through social tools can enhance a company's productivity by up to 25%.
Take our 5-min quiz to find out how your organization compares to the industry leading Fortune 500 companies in adopting the Team Effectiveness best practices.
However, the majority of companies aren’t adequately investing in this area. They are working in an ad-hoc way and have no system to create effective teams at scale. Drawing on extensive academic research and years of experience helping thousands of teams grow, Valence has identified five success factors that every company should apply to build highly effective teams throughout the organization.
Definitions and Measurement: Research shows that team effectiveness begins with clear communication about the importance of teams at all levels of the organization. Defining what a high-performing team looks like and sharing the drivers used to measure teams' success is crucial.
Executive Support: In tandem with defining and measuring team effectiveness, both business and HR senior leadership must buy-in to the importance of team effectiveness. Executives should be the biggest champions of team effectiveness in the organization, role modeling healthy initiatives and interactions with their own teams.
Structures and Incentives: Team effectiveness needs to be integrated into the structures and systems of the company, such as leadership frameworks, learning programs, town hall conversations, and others. Moreover, skills and attitudes that contribute to building healthy teams should be considered highly in the performance management process and promotion decisions.
Solutions and Programs: Organizations should offer solutions to help teams become better, such as training for team leaders, team-level diagnostics, off-the-shelf interventions, and coaches to advise teams. Additionally, the organization needs an responsible owner accountable for developing and deploying solutions for team effectiveness.
Team Culture, Skills, and Activity Level: Teams across the organization need to have an established culture that drives bottom-up initiatives to improve their own collaboration patterns. Teams, leaders, and individual contributors should genuinely care about improving their own team’s effectiveness and exhibit the behaviors necessary to sustain it.
For many years, team effectiveness was considered to be an abstract concept that was difficult to define, track, and measure - let alone build within your company. However, at Valence, we have a different perspective. Drawing on our extensive experience working with leading Fortune 500 companies, we know that team effectiveness can be as tangible and measurable as any other business outcome, and that a company can pursue a set of documented practices to build high performing teams across the enterprise. That’s why we have created a “Guide to Maximizing Team Effectiveness” that equips you with all the tools you need to assess gaps in your organization across the five success factors and identify practical strategies for addressing them.
This comprehensive resource was created for L&D leaders who recognize that investing in teams is crucial to stay competitive in the fast-paced, ever-changing world. By implementing the strategies outlined in this guide, you can create a workplace culture that promotes collaboration, productivity, and innovation. Don't miss out on the opportunity to get ahead, transform your teams, and drive your organization's long-term success.
"Meaningful, lasting behavioral change is a complex process, requiring timely personalized guidance. Startups like Valence provide teams with a fabric of interactive activities that emphasize mutual feedback and allow them to learn on the job while doing the work they always do."