Entrepreneurship Tip #3: Measure Team Effectiveness
What are characteristics of effective teams?
People are the most valuable asset in an emerging company. Most teams right now are “4-D” teams, meaning more Diverse, Dispersed, Digital, and Dynamic. Measuring and tracking these four aspects are critical to building a team that is humming together.
How do founders create team effectiveness?
Teams – your colleagues and associates – need a mission beyond tasks to feel motivated. A compelling direction can unlock team potential to drive innovation and super charge execution. Teams thrive in an supportive environment where different ideas are freely shared and projects get organizational resources to succeed. Instilling a shared mindset across team members drives team accountability toward goals, deliverables, timelines, process, and approach. And finally, clear communication about team and individual evaluation will bring transparency and accountability.
How do companies measure team effectiveness?
One cannot change or improve on things that are not measured. Companies at different stages and industries need different tools. Quantitative metrics can include functional performance metrics around sales targets, product releases, supply chain resilience, and financial indicators. Equally important are net promoter score with employees, absenteeism, employee turnover, and employee survey on company communication, professional development, compensation, and company leadership.
Today’s 4-D team members need authentic engagement and environments to bring their creativity to super charge impact and growth at their companies.
This piece is inspired by the foundational work done by Martine Haas, from Wharton Business School, and Mark Mortensen, from INSEAD. For more read here.
Venture Fellows Program
We are currently recruiting for our Venture Fellows Program. We are looking to hire undergraduate juniors/seniors and MBA students (location agnostic) to work alongside the Augment team. Learn about early stage venture investing and work with trailblazing Augment Ventures portfolio companies. Apply here.
Are you looking to join an innovative and fast-growing startup? Augment’s portfolio companies are currently hiring for sales, product, and software development roles. Please check our careers page for more information on the open positions available at our dynamic and innovative portfolio companies.
Global Human Capital Trends
Deloitte, a global accounting and consulting firm, recently published its 2021 Global Human Capital Trends special report. They dive into four potential futures for the worker-employer relationship: reactive, impersonal, professional, and communal. To learn more about these scenarios and strategies to thrive within them, please click here to read or download the full report.
In the News
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