How Effective Team Management Affects the Growth of Your Business?

In the competitive landscape of high-performing companies, there are only a select few entrepreneurs who realize that team building is the key to rapid growth. But when it comes to leading a team, it’s important to remember that not every strategy can make a significant impact or produce the results you want. Effective team management is critical to the development – and overall success – of your business or brand.

Here are some of the ways effective team management affects the growth of your business:

Building a positive corporate culture:

Developing a culture and creating clarity about your organization’s shared values ​​and beliefs can help lay the groundwork for your unique work environment. Organizational culture can have a significant impact on how your employees present themselves and make them feel a part of something special, which in turn makes them feel like they have a real purpose to contribute to your organization and add value. You can attach a mission statement, express your company culture orally, or as part of the orientation process. When you make sure your employees understand your company culture, you can build a sustainable team that thrives from the start.

Develop healthy communication practices:

“Good management is the art of making problems so interesting and their solutions so constructive that everyone wants to get to work and deal with them,” said Paul Hawken, an environmentalist, entrepreneur, author and activist who has dedicated his life to environmental sustainability and changing the relationship between society, business and the environment.

Be a role model for your team by developing healthy communication practices in your organization. You can do this by making sure you take the time to listen to your employees’ concerns and ideas, and by identifying ways to address workplace issues that require your input. If you avoid email, delegate to other project managers, or don’t raise important issues with your collaborators, they will perceive you as less approachable and the communication framework may break. Practice conflict resolution methods that can help people open up. This will pave the way for a more cohesive work environment as you motivate your team by listening to and responding to their views. Increasing employee engagement allows them to speak up, be more productive when they accept constructive criticism, and work to recognize their own individual contributions, which motivates them to work harder, leading to greater growth.

Evaluate and reward your employees:

Taking the time to appreciate and appreciate the great work of your employees will motivate them to work harder and feel valued. When leading a large team, it is often difficult to recognize individual efforts or extraordinary achievements. In this case, you could invest in organizing monthly work lunches for those who have achieved their sales goals or sending emails to the team congratulating employees when they worked really hard and achieved great results based on their performance. There’s a psychology behind giving, and that means people want to give something back and often give more.

Neil Mitchell is a passionate and knowledgeable advocate, advisor, and investor in early and emerging stage founder-led businesses. His business journey includes 30 plus years of experience in the Canadian Property & Casualty Insurance industry. Neil Mitchell Players Health has led to new engagements in his capacity as an advisor, investor, and/or originator of the angel and corporate venture capital for early-stage and emerging stage insurance and risk technology-based businesses.