Bias in the boardroom: Good or bad?
Of the many biases humans are prey to – such as anchoring bias, loss-aversion bias, status quo bias, and recency bias – confirmation bias can be most evident in the boardroom. But...
Brain Circuits
How to maximize your team’s talents
Your top talent should come from different disciplines with different experiences to more effectively analyze the strategic environment. Use the IPO model below to see how it can be done.
I (inputs)
This concerns the composition of your team. Broadly speaking, organizations mirror top management. For example, if the C-suite and board are both filled with financial minds, the organization looks only at numbers. If it’s all marketing at the top, the company will be heavily advertising-focused. Instead, you want your top talent to come from different disciplines with different skills so that, together, they can innovate more successfully and take more informed decisions.
With major issues relating to sustainability, AI, and geopolitical concerns dominating boardrooms, ambidextrous thinking is critical: it’s essential that the team as a whole can produce transformative ideas, while ensuring ongoing performance. Not everyone is going to stand out; rather it’s the combination of talents that makes the magic happen.
P (processes )
Ideally, the objective is to curate the optimal blend of talent in a team, but practical constraints frequently make this challenging. Here, team processes are critical. You need to train the team to become better at relating to and collaborating with each other. This means focusing on three types of team process:
- Task processes
First, you need to establish task processes through which team members’ roles and responsibilities are defined, clarified, and agreed.
- Relational processes
Second, a significant portion of team endeavors should be dedicated to nurturing relationships and managing interpersonal conflicts. Fostering psychological safety is a cornerstone for team performance here.
- Emotional processes
Teamwork involves emotional labor (and frequently involves conflict). High-performing teams often excel in emotional processes, with leaders cultivating a positive team climate characterized by rapport, inclusion, collaboration and hope.
O (outcomes)
Desirable as they are, psychological safety and contagious positivity do not guarantee that everything else magically falls into place – you also need accountability. Leaders must hold team members accountable for achieving and staying focused on outcomes. This means performing, learning, adapting, and innovating.
Key takeaway
Team composition matters – your top talent should have different skills and approaches so that, combined, they add up to more than the sum of their parts. A diverse team can come up with more potential solutions to be discussed, selected, and implemented.
Authors
Related
Checklist: Are you responding to changing workplace demographics?
As workforces age, organizations must confront a critical question: how will extended lifespans reshape leadership, organizational strategy, and the very concept of a career? Anna Erat identifies four focus areas to sustain...
Searching for your first board role? Start here
To transition into the boardroom, you need a brand, a unique board proposition, and a governance mindset - but you also need to consider the value you add and the cultural fit...
5 strategic imperatives to transform geopolitical turbulence into advantage
Research indicates that 14% of companies report net positive effects from political risks that disrupted competitors, creating market openings to capitalize on temporary dislocations and long-term shifts in global trade patterns. Simon J...