Tuesday, February 10, 2015
Talent Management: Post #5--Thriving Teams
Teams that Thrive. Six critical team functions: Balance (diversity of skills and strengths), Alignment (purpose and actions), Resilience (holding together in stress), Energy (ambition and initiative), Openness (building connections), Efficiency (optimizing resources). Rate teams on these 6 team functions [Team Effectiveness Review (TER)]. Different teams need different things: Turnaround—Efficiency and Resilience; New Venture—Openness, Energy, Resilience; Post-merger Integration—Balance and Alignment. Women make up only 15% of Fortune 500 companies and only 4% of CEOs but are 46.6% of the labor force. Of the two systems of pay—lockstep (equal pay) and eat-what-you-kill—lockstep produces better reputation, profitability and nicest culture! However, in lockstep you need a rigorous people process and a strong culture. Lockstep produces more collaboration (such as sharing leads) and strong values. Otherwise, you have lone wolves starving.