Showing posts with label talent optimization. Show all posts
Showing posts with label talent optimization. Show all posts

Tuesday, January 19, 2021

Building a high performing team

 

Teamwork is one of the most crucial skills required for running a successful business. Your team’s performance drives the business forward and creates a solid foundation for any expansion or future development. However, building a high performing team is a challenging process that takes time, patience, energy, and a lot of effort. Nevertheless, with the right guidance and dedication of team members, it can be an incredible journey that creates strong bonds with everyone, increases productivity & performance, and brings success-over-success for any company. Let's see how to do it the right way.

Main factors that determine a good team

When building a high performing team and becoming resilient, there are various factors to consider. My goal is to share insights about the perspectives on teams, possible environmental blockers that may hinder the development, understanding your work style and that of your employees, and finally, how to approach the work that has to be done. The objective is for you to have all the necessary tools to create your dream team!

The importance of team composition

Team composition plays a vital role in building a high performing team. What helps each individual to excel and communicate with others is driven by:

● Characteristics: communication, focus, support, organization, diversity.

● Attributes: a clear vision of the goals, the ability to take responsibility, cooperation.

● Behaviors: social cohesiveness, collective efficacy.

● Traits: self-awareness, commitment, motivation, reliability, honesty, optimism, empathy.

If each member of your team focuses to develop in these areas, your team will function flawlessly. However, if they fail to do so, it will create obstacles that will be challenging to overcome.

What prevents your team from achieving the best results?

Understanding environmental blockers that will hinder your team's development and performance is the best way to find a proactive solution. When an employee starts working for a company, they are usually very energetic and try to perform to the best of their capabilities.

However, beyond the initial 90 days, their performance could go down, commonly due to misalignments such as:

● Job position/role: if an employee does not move to a more desirable position/role after some time or does not get promoted, then their morale and performance could decrease.

● Daily activities: if an employee is getting too many or not enough daily tasks, it will affect their work efficiency.

● Salary: an increase in monthly earnings will motivate an employee, but a status quo might create unease. Not everyone deserves a salary raise, but they must understand the rationale for not getting the increment.

● Manager: if an employee is not satisfied with their manager, they will look for a way out of the team. A manager must cultivate the ability to notice a change in their team member’s behavior in a timely manner.

● Culture: this can be a serious issue especially for employees who are not aligned with the values practiced and the traits emphasized by company management.

● Location: a lot of people work away from their hometown during their school years, and one of the challenges can be relocation.

As a leader, your objective is to recognize these issues and talk to your employees about their disengagement or dissatisfaction. They must see your empathy for the issues and hurdles they are facing due to the above factors.

The leader grows with the team.

Coaching and nurturing have a goal to create strong managers that will not only lead their team but also grow together. However, this process is not the same for everyone. Your work style will set the tone for your team.

There are four basic quadrants that teams can be classified as:

● innovation and agility

● results and discipline

● process and precision

● teamwork and employee experience

Depending on the team’s collective characteristics, they will fit in one or more of these categories.

Additionally, your employees might have a stronger drive than you. In that case, you must inspect your blind spots, or your development will not be a match to their expectation. As a leader, you must set an example that others will follow. That's why it is essential to understand your team's strengths, weaknesses, and overall makeup.

Understand the work to be done and map your team’s objectives.

Performing a few team exercises is a crucial step because it will enable setting different objectives & relevant tasks under each objective, discovering the blind spots & resolving them. Upon completing the exercise, they will have a higher understanding of the work to be done. Furthermore, it will allow you to get to know everyone's capacity.

Consequently, you will learn to optimize the talent and stretch them to unleash their full potential.

How to create cohesion within the team?

The final piece of the puzzle is team cohesion. Teams constantly communicate, make decisions, and take actions collectively. As a leader, you need to align them to reduce friction, curb any loss of team spirit, and reduce energy waste.

Essentially, become aware of your individual strengths, fix your blind spots, and create synergy among your team members. At the same time, understand your team's strengths and weaknesses, as well as their potential and capacity.

Building a high performing team

With time, even leadership traits have evolved in some ways. Leaders of yesterday had a different approach, and they used to tell their employees what to do. However, the leaders of tomorrow must learn to ask, solicit ideas, encourage participation, and collaborate with employees.

An effective leader helps their team to adapt in various situations, leverages their strengths, stretches their capabilities, unleashes their true potential, facilitates open dialogue, and delegates effectively.

The path for driving results is hard, and you need to visualize yourself, your employees, and the entire team as a cohesive group that functions as one body and one mind.

Tuesday, December 29, 2020

Optimize your talent to drive business results

 



Devoting attention to how much your employees are engaged and motivated when they execute their daily tasks is crucial if you want to make your company as efficient as possible. Estimates show that a highly engaged workforce can lead to over 20 percent increase in annual profits, which is a staggering improvement considering the resources that need to be invested for achieving your business goals. For this purpose, we will discuss a matching and influential strategy to maximize your employee productivity - Talent Optimization.

What is Talent optimization?

It is a data-driven framework that leverages information on employee characteristics and performance. It helps leaders and managers to accurately assess individual behavioral traits to help choose the right person for a particular job or task. Thus, you can ascertain the skills and characteristics necessary for the task at hand. Based on this finding, you can place the right person for the role, evaluate workstyles of the team, increase cohesion among the team members, align the team with the work to be performed, and provide timely guidance for further improvement. Thus, you can increase productivity to help improve your company’s bottom line.

Why do I need talent optimization?

Workforce disengagement is potentially an insidious issue that can significantly undermine the progress of your company. Most organizational strategies fail to consider that most employees do the bare minimum that is just enough to keep their job. Hence you must pay attention to the behavioral traits and needs of your employees.

Layoffs and terminating staff are practices that would be best to avoid if you consider the overall costs of employee training that amounts to a considerable sum depending on the given position and industry. In most cases, hiring a new employee entails a lot of upfront investment in the first year. In addition to the salary, an amount equal upto 40% of the worker's annual salary needs to be invested in recruitment, proper training, and adaptation to the work dynamic. Hence, periodic layoffs and termination can put a lot of strain on your profits. Luckily, good workforce management can alleviate this problem.

How do I improve employee engagement?

By implementing talent optimization to align, motivate, and engage employees according to their behavioral drives and needs. Let us take a deeper dive into this subject.

Talent optimization enables you to:

  • Measure and create worker profiles
  • Create a scalable people strategy
  • Choose top talent for the job
  • Create efficient teams

How does talent optimization improve employee productivity?

There are three main areas to consider:

1.Talent optimization takes the business context into account

Depending on the specifics of the business context, talent optimization helps achieve projected business goals. You need to align your business operations for creating a viable working climate, informed by talent optimization and the immediate work context. Since talent optimization 'sorts' people according to their skills and performance metrics, it is possible to track how well a given employee is suited to work in a particular context and/or team.

2. Talent optimization takes employee behavioral traits and performance metrics into account

As mentioned, workforce analytics is a powerful driving force for restructuring your organizational and operational strategies. Moreover, talent optimization is data-driven in that it predicts how an individual employee will fare based on their skills, character traits, cognitive & behavioral characteristics.

This predictive metric is an optimization solution that reduces unwarranted bias or misjudgment, minimizing human error in the operational process of hiring employees, assembling teams, and assigning tasks & responsibilities.

3. Talent optimization facilitates employee engagement

Essentially, the main benefit of this approach for organizing your talent is that it is centered around reducing worker disengagement.

Good leadership must use prudent and effective strategies to promote a good working environment. In fact, employee engagement is the number one contributor to workplace productivity. Hence, when it comes to maintaining productivity in your company, actively promoting employee engagement is a more efficient and long-term strategy in comparison with just giving out financial incentives and bonuses. Employee engagement and good rapport contribute to increased motivation and productivity on a sustained basis.

What type of issues could be solved through talent optimization?

1.      Employee misalignment with the work culture

Talent optimization can help you hire workers that are more in tune with your work culture. Furthermore, this optimization strategy can reveal aspects in which your workforce is imbalanced and, in some cases, synergistic. Thus, talent optimization can help in pinpointing solutions for recurring issues and systemic problems in your company.

For instance, when transferring to a new premise you could assess the alignment of the team to significantly improve engagement and adjusting to the new environment.

2.      Job misfit with the employee.

Reference profiles help assign people to jobs they will do conscientiously and diligently. In companies that conduct mass hire campaigns to recruit hundreds of employees, it is easy to overlook that a particular employee does not work well under pressure or that team members are incompatible with each other. Talent optimization helps you to assign reference profiles for people. Therefore, with a dataset that shows you the employee behavioral stats and metrics, you can easily see if the person is analytical, extroverted, cooperative, rules-driven, etc.

3.      Manager and employee misfit.

Sometimes, the team leader may not have the requisite leadership style to match with the current objective, and thus could be less effective in leading the team towards success in a specific situation. You can use talent optimization to fine-tune your organizational structure to leverage natural leadership strengths, flex your team strengths to address the gaps, and augment the team in accordance with the collective needs and the situation or project.

4.      Teams that don’t get along well.

When you have larger projects with more than one team working on them concurrently, it is essential to implement a cohesive approach to teamwork. Also, traditional organizational techniques are frequently time-consuming in the sense that you need to do extensive scale efficiency assessments for every new project from scratch. Once you have a detailed dataset, talent optimization allows you to do this quickly, without new workforce assessments, team compatibility trial runs, and resulting productivity delays and deficiencies. 

As you can see, talent optimization provides you with particularly useful information and enables you to increase productivity and help solve issues that have been impeding your business functioning. By gathering insight into your team’s functioning you will be able to take the requisite decisions and actions to bring your business to the next level.

In a nutshell, talent optimization connects your people strategy with your business strategy to facilitate the achievement of your goals!