Results Focused - Strategies for Enhancing Team Performance

Financial Advisory

25 April 2024

CommunicationFinancial AdvisoryManagementPerformanceTrustVulnerableWinning Advisers

Expert: John Batten, Strategic and Technical Sales Manager, Columbia Threadneedle Investments Facilitator: Roderic Rennison, Catalyst Partners

Headlines:

  1. Trust and vulnerability are key components of team success
  2. Addressing fear of conflict will help foster commitment and accountability
  3. Effective team management strategies include objectives, check-ins, and meetings
  4. Challenges include managing generational differences and remote work

Discussion:

A structured approach to enhancing team performance, guided by Patrick Lencioni's principles and practical strategies, aims to build cohesive, high-performing teams capable of achieving organisational success

The discussion highlighted Lencioni's concepts, such as the five dysfunctions of a team and the importance of trust, vulnerability, and conflict resolution. Delegates delved into the six critical questions for organisational clarity and practical strategies for team management. Experiences and challenges related to managing different generations, remote work, and fostering open communication were also shared.

The five dysfunctions of a team:
Lencioni's model addresses the absence of trust, fear of conflict, lack of commitment, avoidance of accountability, and inattention to results. Emphasis was placed on building trust and encouraging vulnerability to overcome these dysfunctions.

Creating organisational clarity:
Lencioni's six critical questions help define vision, purpose, values, business definition, strategy, and objectives. Communicating and reinforcing these elements throughout the organisation is crucial.

Practical team management strategies:
Setting clear objectives, conducting regular check-ins, holding one-on-one meetings, and fostering continuous improvement were identified as effective management strategies. Delegates discussed the importance of these practices in promoting collaboration and personal development.

Challenges and perspectives:
Managing different personalities and generational differences, remote work, and the use of psychometric testing were key challenges discussed. The need for clear expectations, flexibility, and open communication was emphasised.

Key takeaways:

  • Establish and communicate clarity - Define and communicate the vision, purpose, values, and objectives for the team or organisation
  • Foster trust and vulnerability - Create an environment that encourages open communication, constructive conflict, and accountability
  • Implement regular check-ins and meetings - Use regular check-ins, one-on-one meetings, and team-building activities to enhance collaboration and continuous improvement
  • Utilize psychometric testing - Explore the use of psychometric testing to understand team dynamics and tailor management approaches, while considering potential limitations and biases
  • Manage generational differences and remote work - Develop strategies to manage generational differences and remote work arrangements with clear expectations and flexibility
  • Continuous improvement - Continuously evaluate and refine team management practices, seeking feedback and input from team members to ensure alignment with organisational goals

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