Audio Transcript

The Potential Code: Element 5 - Teams

If you want to go fast, go alone. If you want to go far, go together.

None of us is as smart as all of us.

These are popular quotes all of us say to stress the power of teams for unleashing potential...and how teams that have great chemistry, are more likely to perform better and even exceed their potential.

But, simply assembling a group of competent individuals isn’t enough to guarantee success.

In fact, in one study, LESS THAN HALF of executives believed leaders in their organizations were highly skilled in collaboration. And some estimated that up to 60% of teams failed to accomplish their performance goals.

So, what moves a team on from a collection of individuals to a cohesive, high-performing group?

One thing is having a common purpose, goal and mission to bind everyone together. That glue creates a shared commitment, a camaraderie and a long-term vision. It stops people from simply reacting to daily events and keeps them focused on a bigger mission.

The point here is, how you structure your teams is just as important as how you inspire each person within them.

Not surprisingly, this is something the World's Most Admired companies do well.

In fact, a recent Korn Ferry research study found that leaders at the World’s Most Admired companies agree collaboration boosts performance (if everyone does it). So, these companies have teams that effectively share their ideas and resources...and there is more collaboration and cooperation between departments.

But, this is easier said than done...and many organizations are falling short.

For example, Korn Ferry research found that 49% of employees at many organizations give their companies low marks for being effectively organized and structured. And 47% of people say they struggle to get enough support from other teams to reach their goals.

Now, if you’re a company whose teams aren’t supporting each other as effectively as they could be, here are some considerations and strategies from Korn Ferry’s POTENTIAL CODE that can help you.

First, keep in mind that, you CAN actually build chemistry.

Not surprisingly, team with less turnover naturally build more chemistry...and leaders can fast-track that process by making the space for people to have vulnerable conversations, and even by getting creative.

One approach to do this is by hosting team-building events, which could actually help bring your team closer...even after the event.

And, when you’re not actively fostering team building, keep in mind the basics - make eye contact...listen...and create psychological safety by giving your people clearly defined roles and the space to experiment and make mistakes without repercussions.

Another thing you can do to build team chemistry within your organization is embrace the power of all.

The greater the mix of people in your team, the greater your team and business.

In other words, when you structure your organization for inclusion - giving every person an equal chance to progress - the results speak for themselves.

In fact, Korn Ferry research uncovered that diverse and inclusive teams make better decisions...are more likely to see ideas become productized...and generate a higher innovation revenue.

Of course, for this to work, leaders have to remove barriers that are getting in the way of inclusion or slow fresh thinking down.

So now when someone uses a quote like Teamwork makes the dream’ll have some approaches and strategies you can use to actually make it happen!

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