Topics: Teamwork

Connecting siloed teams

The Brief

The client was a US bank. It had traditionally worked in regional teams where everyone knew one another and serviced local clients. However, the strategy was to move to a service line model. Local clients would still be served by local teams; however, the solutions would be provided by central groups of solution specialists. The new model avoided duplication of effort across the regions but required a significant shift in mindset and approach to networked working.

The Engagement

The engagement was to develop a programme of work to connect the new teams, shift mindsets and develop new ways of collaborating. This included:

  • Design and deliver a series of service team workshops to:
  1. Build new relationships
  2. Surface and openly discuss the challenges and the opportunities
  3. Develop strategies to address challenges and capitalise on opportunities
  • Develop and agree on collective ‘rules of engagement’ that defined the new way of working and roll these out across the business
  • Advise on performance management processes and enable line managers to be effective in a matrix reporting environment
  • Advise on remuneration considerations, particularly around incentivising the right behaviours.

The Outcome

This was a complex project, and, as expected, there was both enthusiasm and resistance amongst those involved. Over time, some blockers began to see the benefit and converted to enablers while others were unable or unwilling to adapt moved on. This allowed others who were more aligned, with fresh ideas and energy, to play a more prominent role and drive the change.

The implementation continues, however, with new systems and processes, supported by ongoing work around building relationships and the culture, good progress is being made and the change has critical momentum.

Design and facilitation of a global working conference

The Brief

The client wanted to bring together all its managing directors (c.80 people) from across Europe for its first in-person gathering in 5 years. Much had changed in that time, however. Due to various factors the opportunity to bring everyone together had not occurred. The cohort was mixed, with many recent joiners but the common theme was an absence on in-person connection.

The aim of the 2-day conference was 2-fold: Open debate about critical strategic decisions, inviting ideas and generating buy-in; build the network across the MD population to encourage collaboration and cross-selling.

The Engagement

Goldcrest was engaged to both co-design and to facilitate the conference.  Our key stakeholder was the CEO and we collaborated to help draft their opening session to set the tone. Additionally, we worked with the CFO, sector leads and others to coach them through the creation and delivery of their sessions.

The Outcome

The result was a highly engaged and enthused MD population with tangible messages to take back to their teams.  Some acknowledged that they arrived sceptical of such gatherings but left positive and delighted with the quality of the presentations, the conversation, the venue and the facilitation.

Repairing a broken executive committee

The Brief

The client was a national bank where relationships on the executive committee had become strained. This unfortunate situation was depleting energy and impacting the effectiveness of execution. The brief was to bring everyone together to ‘have it out’ and rebuild the trust between team members necessary to perform.

The Engagement

We partnered with the CEO to understand the issues and how they were presenting. This informed the process design to address and remedy the challenges within the executive committee. As a result, these were the actions we took:

  • One-to-one meetings with each executive committee member to establish trust in Goldcrest and the process, and to hear their perspectives
  • 2-day offsite to work through the Goldcrest high performing team framework to establish a positive template to work towards and highlight the interdependency of each team member and their functions
  • Facilitated ‘clear the air’ conversations to work through issues and achieve recognition that the execution of strategy was being hampered by the lack of cohesion
  • Established clarity and commitment about roles, responsibilities, and rules of engagement necessary for success


The Outcome

Feedback from the client described the process as refreshingly honest and essential to moving forward. The executive committee are still using the tools and structures agreed upon to make better decisions, to address contentious issues and communicate more effectively with one another. Goldcrest provided ongoing support to cascade this into the individual executive committee members’ teams.

Reconnecting a senior leadership team of an asset manager

The Brief

The client was the senior leadership team of an asset management business. Following the global pandemic, several changes had taken place with some leavers and joiners. The business faced significant headwinds and needed to ensure the leadership team addressing the challenges was as tight and high performing as possible.

The Engagement

Our solution was to run a high-performing team workshop for the group over a two-day offsite. We balanced the offsite to address the team’s characteristics, strengths, and gaps, with strategic discussion of the macro challenges. We used our proprietary ‘Conditions for High Performing Teams’ checklist as the basis of the gap analysis.

The Outcome

The process was a resounding success. The value of bringing the team together was palpable in the enthusiasm and joy at genuine human connection after such unnatural separation. Feedback from the CEO following the event described the team being more connected and aligned than ever, demonstrating strong examples of leadership and teamwork that were beginning to positively shift the organisational culture in the right direction.

Effective hybrid working for a digital bank

The Brief

The client was a US-based digital bank and card service provider that was improving its hybrid working model and seeking to address the leadership and teamworking challenges that come with this way of working. The client had a well-resourced and effective internal talent development function who had implemented a firmwide programme of ‘Team Days’, which were monthly in-person whole department mini-conferences that brought people together, allowed individual team time, and provided central presentations and learning for the c. 500-strong departments.

The Engagement

The engagement was to provide specific masterclasses pertinent to hybrid working, including high performing teams, leading through adversity, the power of networks, the benefits of followership and how to put them into practice.

We participated in a series of the ‘Team Days’ to ensure consistency of experience across the firm.

The Outcome

Client feedback was good. The talent development team were pleased to be able to outsource some elements of the programme to an external provider to help manage their workload. The participants found the masterclasses informative and engaging. The business operates a highly effective hybrid working model in large part due to how well they have developed their people.

Building a global team in private equity

The Brief

The client was a fast-growing midcap private equity house with global offices. They had grown significantly during the pandemic when in-person activity as a whole firm had been restricted. Relationships were functional at best and largely built on Zoom and Teams interactions. The executive recognised they needed to build social cohesion across the entire organisation of 80 people.

The Engagement

We began by creating, in partnership with the client, a three-day conference in a major European city. The objectives were to instil strategic messages and hold critical conversations, meet colleagues and build relationships and unite the firm around a shared experience that would serve as a cultural artefact.

The Outcome

The client was delighted with the event. It was the right balance of hard work and fun to energise and motivate the participants, The group left with a better understanding of individual and cultural differences, a strong sense of cohesion it created, and renewed strategic direction for the next five years.  We continue to engage with the firm to support their leaders and teams and embed the change in the culture.

The power of networks

We all know people in organisations who just seem to be really well plugged in and good at making things happen. So what is it about them?

Working at an asset management firm some years ago, I met Fiona, an investment director on a fund desk.

It wasn’t her job to connect with people or help them out but she enjoyed it and was good at it. She became known as a person who could help you to move things along.

What is a network node?

Fiona was a network node. An unglamorous term for someone so brilliant and so generous with her time. A network node is, in this case (because there may be other definitions in the world of computer science), an individual who holds many relationships and through whom informal influence and communication can flow.

All organisations have people like this and sadly, particularly in financial services, the value that they bring is not always fully appreciated. Often it is not until they leave an organisation that people notice that it is harder to get things done.

When you lose network nodes from an organisation, you’re not only losing the technical competence they bring, you’re also losing all that connectivity.

Companies which fail to recognise the value and keep hold of their network nodes become less effective. In times when so many of us are hybrid working, these people are more important than ever. Informal engagement becomes critical to building the kinds of relationships that make this mode of working viable for organisations, productive for teams and personally satisfying for individuals.

Match what you know with who you know

All companies benefit from informal human networks. When times are good and growth is fast the networks stretch beyond the formal organisational design until it catches up.

When times are tough and an organisation is contracting, efficient adjustment for lost network nodes is vital to retain internal connectivity and corporate knowledge and invaluable to reach outside of the organisation to find new perspectives to help solve the problems.

On a personal level a network has many benefits to offer. More than half of people still get jobs through network connections. A good network enables you to access expertise and information that you likely otherwise would not have. It can give you a degree of influence, perhaps a profile or reputation in your industry that could benefit your future career.

At Goldcrest Partners we do not believe it is necessarily about attending networking events, which can (let’s be honest) feel a little self-conscious and superficial. Rather maintaining a healthy network is an evergreen social activity for the mutual benefit of all parties. Because, after all, a productive and long-lasting network connection is always a two-way street.

7 steps to leading a high-performing team

To the casual observer, a high-performing team can look almost effortless, with a sense of collaboration and cohesion, ease and authenticity that just clicks. Every person understands their role, the goal and is fully engaged in the ongoing success of the business.

But achieving this status doesn’t happen by happy accident, if anything it takes as much work as the “day job”.

So what if we applied the same strategy, research and analysis to optimising the operation of our teams as we do to the service of our clients? How would that look?

Goldcrest Partners co-founder Tim McEwan draws on his experiences of teamwork during his career in the British Army to highlight 7 conditions that he believes are essential to success and take away the guesswork.

The model offers a systemic framework to create the conditions that pull together individual brilliance into collective power, allowing each team to define for itself what high performance looks like for them and the journey to get there. As a process, it’s intensive but the results are compelling.

This will be a series of 7 insight pieces, starting with Trust which you can read below.

Trust

We perform well perform because we trust each other. We trust each other’s alignment to our shared goal. We trust each other’s commitment to work hard. We trust each other’s skill and ability. We trust each other to look out for each other. We trust each other to hold each other to account.

Trust is essential to any high-performing team, and many of the most serious challenges to effective team functioning derive from its absence. Patrick Lencioni’s seminal work The Five Dysfunctions of a Team places trust at the foundation of a functional team for good reason.

By its very nature trust is something to be granted rather than made. We cannot insist someone trusts us but we can inspire the conditions under which they may chose to have faith in our trustworthiness. The same is true within teams. Trust within a new team needs to built. It can only be based on exchanges completed. Over time it evolves and develops, is galvanised by shared experiences, wins and losses. Teams are rarely static and the high-performing team is critically aware of the varying trust capital within the group as members change, relational bonds tear and repair, and reputations are built.

Effectiveness of action is critical to high performance and trust is a crucial to enable this. When a high trust environment exists within a team, the division of labour can be clearer because there is confidence in the reliability of others to perform their roles. When we trust fellow team members word and deed, it allows us to focus on our own parcel of activity without double guessing and inefficiency.

Over time, most of us have developed the critical capacity to evaluate the triggers, cues and data to help us decide whether to trust or not trust. This becomes stretched when we encounter novel situations and a high-performing team is able to calibrate the context much more quickly and accurately than an individual.

In its essence, trust exists when we can reliably predict the behaviour of something or someone (including ourselves). Recognising the value of trust and how to cultivate it to create a high-performing team is a vital first step in achieving team goals.

Harnessing the power of a team

With that in mind, think about your team.

  • Do you actively invest in it and how its members work together?
  • Would your team more easily achieve business outcomes through better communication?
  • If so, what could you do to facilitate those changes?

One method to harness your team’s true potential is to run an offsite. We look at why they’re so effective here, but also how you can plan one which unlocks the full power of your team.

The benefit of an offsite

The key advantage to offsites is that they offer the chance to focus with no distractions. It sounds obvious, but taking the time to concentrate solely on your team is so easily overlooked, even though the results can be hugely worthwhile.

That’s because taking time out means you can zone in exactly on what your team needs to improve – making them more productive. Those improvements will generally fall into four areas:

1)   The introduction of high-performing characteristics

An offsite is the ideal place to lay foundations for the following 7 characteristics seen in the best, high-performing teams:

With all these characteristics, teams are able to combine individual brilliance into collective power. Introducing them effectively is hard to do in your office’s own four walls and without a concerted effort from a leader.

2)   Working on weaknesses

Even the best teams aren’t perfect. For instance, it could be that communication has become an issue. Or, your team may currently lack targeted aims. At an offsite, you can address those issues constructively.

Plus, what’s useful about the out of office set up is that any tricky team dynamics can be anticipated in advance. ‘Healthy conflict’ is then possible – leading to practical approaches for addressing problems in the future.

3)   Strengthening strengths

What’s also great about offsites is that they’re a fantastic way to reinforce strong points. They’re not just for reinventing the wheel. For instance, if your team already has good working relationships, you can use an offsite to accentuate that further.

4)   Time to make a team, a team

Finally, getting everyone present in one room can be hard to achieve spontaneously, especially if you have team members dotted around the country or globe. An offsite is dedicated time, all together. So, they are great for working on that social glue that leads to cohesion – thanks to providing space outside of the office, in an environment that’s safe. 

Planning an offsite

Given what there is to gain from an offsite, how do you plan a profitable day?

Keep it simple

Identify specific outcomes you want to achieve. They don’t have to be overly complicated. They can simply be to create a closer-knit team. From there, you can then develop a well-structured agenda that zones in on those outcomes only.

Remember to take it offsite

Technically speaking, an offsite doesn’t actually have to be offsite. It can be tempting to save money by using one of your company’s meeting rooms. However, leaving the office can be advantageous because any outside noise will be immediately minimised – if not eradicated completely.

Make it fun

Finally, offsites should be enjoyable. They’re not just a day that has to be spent in a room coming up with strategy ideas for the short, mid and long term. But that doesn’t automatically mean you must take your team paintballing or other painfully enforced “fun” activities. Something where people relax is key.

It doesn’t even have to be a whole day out of the office. It can simply be going out to dinner, wine tasting, or just a drink after work. Anywhere your team spends time with one another in a relaxed environment is beneficial. Any get together outside a formal meeting can have huge power if done well.

How Goldcrest Partners can help

It’s always surprising to us that, despite the powerful tool an offsite is, they’re so often anticipated with dread by attendees. That’s a massive shame as offsites then essentially become an expensive waste of time.

Yet, the benefits of an offsite are so compelling. And it’s something that we can help with at Goldcrest Partners. All you need to do is give us a clear idea of where your team is now and where you want it to be afterwards. From there, we can tailor an offsite to be a constructive use of everyone’s time.

We do that through:

Collaboration

When planning a team’s offsite, we work closely with leaders in a highly collaborative way. In doing so, we design your day in tandem with you – rather than for you.

Direction

We act as a much-needed sounding board in the run-up to the day. Together with you, we compile your aims and objectives. Our input helps you stay focussed on creating an agenda and an environment to achieve your aims. Importantly, while that means we may give pointers and direction, you’re still definitely the leader. We believe that is critical to the day’s success.

Support

With us there throughout your offsite, you can focus on being part of any discussions. You never need to worry about running your timetable to the clock or who the next speaker will be. Our support enables you and your team to gain as much from the day as possible.

Independence

Crucially, we remain objective and independent. Having us as a third party gives everyone the space to relax and enjoy themselves that bit more. Our help encourages a team to have productive discussions that enhance relationships.   

Contact us today

We’re experienced in creating the best environment resulting in the best outcomes. With our expertise, you can develop a high-performing team that not only reaches its targets and goals, but beats them time and time again too. Call or enquire with Goldcrest Partners today so we can start planning an offsite with you.

Bringing together the 7 conditions of a high-performing team

Creating a high performing team is essential not only for the team’s own success but for the overall success of its entire organisation. As we will explore, the following 7 essential conditions must be met to ensure optimal team performance: trust, vision & alignment, autonomy & empowerment, social glue, healthy conflict, connectivity, and continual learning.

Vitally, they must all be present for a team to be truly high performing.

No single condition must be left out. Each one is interconnected and interdependent on all others. None will ever thrive in isolation. For instance, consider healthy conflict. Having a constructive debate would be difficult without trust or social glue. These conditions complement and strengthen each other so they can be leveraged far more powerfully.

Ensuring all these conditions are present within a team is not an easy task. Nor is it a quick one. There are several challenges that a team leader or manager could meet along the way while trying to nurture and cultivate such an environment. For example, employees may be resistant to taking more responsibility for their work, or some may struggle to maintain their efforts towards continual learning.

But the rewards that all these 7 conditions cultivate cannot be underestimated, which is a hugely motivating factor for leaders. There are many practical steps and strategies that leaders can use to foster trust, promote healthy conflict and instil all other conditions mentioned in this series of insights.

If you’re a leader, Goldcrest Partners can help you identify and implement those steps so that you can build and sustain a high performing team that is incredibly successful. While many of our tips and ideas are part of an ongoing process, the long term benefits such as increased competitiveness, improved employee retention and better success at meeting targets make the effort worthwhile.

Interested? Contact us so we can start setting up your 7 point high performing team model framework to ensure your team’s success.