The world’s leading businesses have never had a bigger need for high-performance teams. It has never been more critical to ensure your employees or select task groups can deliver on their mandates faster, more agilely, and with ruthless efficiency. With experience forming and leading high-impact teams in some of the world’s leading companies, including the MUFG, Capgemini, and Morgan Stanley, among others, Laksh Vaswani is well-placed to discuss how best to build, motivate, and equip top teams into high-performance juggernauts.
The cutthroat nature of modern business has seen a significant shift towards short-termism. Businesses, especially public corporations, are run to meet short-term targets, forcing managers to focus on the near and now. While top leadership often thinks about long-term strategy and performance targets, the same no longer applies to line managers, department heads, and the people doing the everyday work.
However, short-termism comes at a cost, the most common being the need to reset and go again every few months. Not even high-performing teams are spared. However, research shows that focusing on long-term strategy can elevate the performance of functional teams and departments. Such a long view does not always come at the expense of short-term targets. The difference lies in how the teams are built, managed, and motivated
As founders and business managers, creating a team that not only delivers results but sustains high performance over the long term is a challenge that requires strategic planning and commitment. Drawing insights from the experiences of industry leaders like Laksh Vaswani can provide valuable lessons on fostering a culture of excellence within teams.
Understanding high-performance teams
At the core of any successful organization is a high-performance team. These are groups that consistently achieve outstanding results while working in sync, leveraging each member’s unique strengths. To cultivate such teams, it’s essential to focus on three foundational pillars: clear goals, strong communication, and continuous development.
The Institute of Directors perceives a high-performing team to have well-defined roles, contain complementary talents and skills, and be made of individuals ready to challenge the established norms. Members of the team must also seek out new ideas consistently and adapt to changing circumstances just as fast. Since these attributes are guaranteed to create conflicts, members should not shy away from constructive conflicts within the ordinary course of their work and should be tolerant enough to listen to and consider opposing views.
However, a high-performing team must also be built around the most technically proficient individuals. The team should have sufficiently qualified people with diverse skill sets and complementary techniques. The goal is to allow varied skills to enable individuals to perform their jobs well and at faster speeds.
Set clear goals
To build a high-performance team, start with well-defined objectives. Teams should understand not just what they need to achieve, but also the ‘why’ behind their goals. This clarity acts as a compass, ensuring team members remain aligned and motivated.
Laksh Vaswani emphasizes the importance of setting both short-term and long-term goals that resonate with the company’s vision. When team members see how their contributions fit into the broader organizational purpose, their engagement and commitment increase significantly.
Having clarity of direction and objectives ensures everyone is aligned with and dedicated to a shared purpose. This clarity empowers the team to consistently demonstrate elevated levels of collaboration and innovation, culminating in enhanced performance in form of superior results, better execution, and consistent quality of outcomes. High-performing teams are also tightly knit socially and supportive of individual members at work. They are capable of sustaining tunnel-vision focus for long periods and dropping everything to guarantee the delivery of their objectives.
Encourage open communication
Communication is the lifeblood of high-performance teams. Establishing an environment where team members feel safe and encouraged to share ideas, feedback, and concerns is critical. Regular check-ins and open forums can facilitate a culture where every voice matters. Laksh’s experience highlights the effectiveness of creating structured yet flexible communication channels that allow team members to express their thoughts openly, fostering trust and collaboration.
Moreover, embracing diverse perspectives can enhance problem-solving capabilities. Teams composed of individuals from varied backgrounds can approach challenges from multiple angles, leading to innovative solutions. Regularly soliciting feedback and making adjustments based on team input can help maintain an adaptive and responsive team dynamic.
Promote continuous professional development
Investing in the professional growth of team members is essential for long-term success. A culture of learning encourages team members to hone their skills and evolve alongside the business. Laksh Vaswani advocates for offering training programs, mentorship opportunities, and a clear pathway for career advancement. When team members see that their growth is a priority, they are more likely to remain engaged and contribute positively to the team’s performance.
Additionally, introducing regular performance reviews can help individuals identify their strengths and areas for improvement. These conversations, framed positively, can motivate team members to strive for excellence.
Fostering team morale and cohesion
Lastly, maintaining high morale is crucial. Celebrating successes, both big and small, reinforces a sense of accomplishment and belonging. Team-building activities, whether in person or virtual, can help strengthen interpersonal bonds, promoting cohesion and trust among team members.
In summary, building high-performance teams that deliver sustained results requires intentionality in setting clear goals, fostering open communication, prioritizing continuous development, and nurturing positive team dynamics. By drawing from the experiences of industry leaders like Laksh Vaswani, founders, and business managers can implement strategies that create resilient teams capable of achieving excellence over the long term. Embrace these principles, and watch your team transform into a powerhouse of productivity and innovation.