GRAND RAPIDS, Mich.--(BUSINESS WIRE)--In the modern workplace, there are many factors conspiring against effective teamwork. In fact, 6 out of 10 senior executives report their own teams are underperforming, according to the inaugural ThinkWise 2015 Impact of Team Performance Survey report. The survey captures the insights of more than 100 business leaders from across the U.S. on the elements that create highly successful teams and their impact on company performance. The report reveals team performance is the No. 1 contributing factor that impacts overall organizational value, over speed of technological change and availability of human talent. Further, high-performing teams contribute most to improving organizational culture, staff retention, profitability and risk mitigation.
Across all company sizes, smaller teams (less than 10 people) are performing better, with 50 percent performing at full potential compared to 36 percent of teams with 10-50 people. A mere 14 percent of teams with more than 50 people are performing at their potential. At smaller organizations, teams are 13 percent more likely to perform well than those at mid-sized and larger companies, indicating the smaller the team and company, the better the team performance.
“With many modes of communication, the number of remote employees on the rise and an always connected environment, the modern workplace is full of distractions and presents an environment that inherently holds obstacles for teams to reach their highest-performing potential,” said Steve Griffin, Psy.D., Vice President of Strategy & Consulting for ThinkWise. “When organizational leadership truly embraces the makeup and function of highly effective teams, the impact on the business is phenomenal. Efficiency and profitability skyrocket, and their performance causes ripple effects throughout every area of the organization, including culture and retention.”
Senior executives believe the way teams are built plays a significant role in their ability to perform to their potential. Two-thirds (63 percent) of respondents identified self-selected teams, meaning members who choose the team they join, as the best-performing teams. Yet, only 11 percent of these same executives currently use this approach.
Top three traits of a high-performing team that outperform an average team
- Communication: High-performing teams utilize effective daily or weekly communication, achieving 4.24 out of a 5.0 scale.
- Commitment: High-performing teams keep their commitments to what they say they’ll do (4.16 out of 5).
- Innovation: High-performing teams work in an environment that clearly defines how the organization can implement innovation (3.45 out of 5).
Traits most likely to be found in underperforming teams
- Avoiding accountability (63 percent)
- Not communicating with a leader when unclear on a task (63 percent)
- Blaming others for poor performance (46 percent)
For more information about the survey and to request a full copy of the results, please visit http://www.thinkwiseinc.com/resources.html?src=PR or contact Kim LaFleur directly at firstname.lastname@example.org.
About the Survey
The ThinkWise 2015 Impact of Team Performance Survey report provides a close look at the trends impacting team performance, explains the top drivers of success within high-performing teams and highlights the value team performance provides to an organization. More than 100 respondents of senior audience of business owners, C-level executives, VP and director-level team leaders contributed insights from their experience leading teams across small, mid-sized and large organizations.
All of these leaders were asked about the performance realities of their teams, to define the characteristics of high-performing teams and to provide insights into how their teams are in fact performing.
ThinkWise is a high-performing team of seasoned business and HR executives who work together to provide simple and seamlessly integrated services and products to help organizations thrive. In business since 2007, ThinkWise developed a software-as-a-service suite of talent management tools with a philosophy of simplicity, engaging design and expert content built into every solution. A 50 Companies to Watch and ASTD Product of the Year award winner, ThinkWise delivers simple and smart solutions that define the future of talent development.
To learn more about ThinkWise, visit www.thinkwiseinc.com.