A high-performance team is the apple of any organization’s eye because it collaborates and innovates to produce spectacular results. High-performing teams are highly desirable, but forming one is challenging for all businesses. According to a Gallup report, employee burnout is one of the leading causes of absenteeism, which costs businesses worldwide over $322 billion in lost turnover and productivity. As it stands, employee well-being is central to resolving the issue of mediocre teams.
A McKinsey article outlines unequivocally that high-performance teams can outperform non-collaborative teams in terms of financial performance by 1.9 times. Gallup cites employee engagement and leadership involvement as two of the most important factors in maintaining and driving better well-being, thus, allowing team members to perform highly.
Who Are Collaborative Leaders and Why Do High-Performance Teams Thrive Under Them?
A collaborative leader is a team player who seeks everyone’s opinions and ideas for the team to thrive and puts out the best innovations in motion. We have listed some key factors that help collaborative leaders build and drive high-performance teams.
Communication As the Root
Collaboration and communication are inseparable. A leader who is fluent in both verbal and nonverbal communication will identify and remove almost every other obstacle to the team’s exceptional performance. This is because the wants are clearly laid out, with an open scope for criticism and continuous feedback. Teams that practice and preach open communication do not refrain in their shells, thus contributing to their full potential. Therefore, communication is the root element of creating teams that perform better and bring more to the table than expected.
Delegation Power with No Micromanagement
According to a Niagara Institute survey, 84.7% of top management participants let the team decide how to complete their work. A collaborative leader is not interested in taking credit but rather in promoting their team’s efforts to the best of their abilities. Because a creative mind thrives in its own space, high-performing teams cannot work well with a leader who believes in micromanagement. A collaborative leader must learn the power of delegation and trust the team to get the best performance out of every individual.
Build Transparent Teams with High EQ
Emotional intelligence or emotional quotient is an important factor in developing effective leadership and driving high-performance teams. The world is becoming more inclusive and safer for all, so the demand for emotional skills will increase by 26% by 2030.
Leaders with emotional skills are capable of establishing relationships with employees in such a way that they are four times less likely to leave their jobs. This is only possible in a collaborative workplace where leaders and employees have a close relationship and everyone’s well-being is prioritized. A collaborative leader with a high EQ will give employees more space to discuss their problems, reducing overall stress. This has a direct impact on their enthusiasm and motivation to perform under such leaders.
Problem-Solving Appetite with the Risk-Taking Capability
A collaborative leader should not be in charge of directly solving problems but rather channelizing the efforts of the team to do so. Instead of just bringing problems to the table, high-performing teams usually come up with solutions. The leader has faith in the team, and each team member proves to be the most valuable asset in solving critical problems without fear of risk involved.
A collaborative leader demonstrates their presence and support in such situations by standing by the team if something goes wrong. This fosters a high level of trust among team members, which is necessary for teams to perform admirably.
The Clarity in Vision, Goals, and Expectations
According to McKinsey’s research, 70% of employees associate their sense of purpose with their work. However, only 15% of frontline employees agree that they are living their purpose on a daily basis. Leaders have a significant impact on defining this purpose and leading by example to help individuals feel valued at work and believe they are contributing to something larger.
A collaborative leader will involve each team member and provide clarity on the bigger picture by outlining exactly what is expected of everyone. This level of clarity helps everyone on the team understand how their contributions are an important piece of a larger puzzle.
The Burning Need for Leadership Coaching
As per the DDI World Report, leaders face challenges when transitioning into people-oriented roles. 81% of leaders who experienced smooth transitions felt they had clear performance expectations, which enabled them to support their teams more effectively. This clearly demonstrates the importance of training and assisting leaders before they can effectively build high-performing teams.
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Driven to improve your team’s critical skills to drive high-performance teams in this competitive world of change? Get in touch with us to discuss how Numly™ can help!