Pub. 10 2015-2016 Issue 4

www.nebankers.org 18 Extraordinary Service for Extraordinary Members. executive teams do not have a decision-making process to follow, they run the risk of fall- ing into many typical group decision-making pitfalls. One of the most famous decision- making pitfalls (e.g., dot-com meltdown, Enron) is groupthink where team members begin to conform to one another’s thoughts and ideas instead of analyzing and evaluating ideas critically. The results for orga- nizations can be devastating, as many executive teams can fall into the “yes, man (or woman)” trap where everyone recklessly agrees with the president/CEO or with each other. To combat groupthink and other decision- making pitfalls, executive teams should have defined rules for de- cisionmaking and uphold them. For example, teams should determine what decisions are made by consensus and what decisions are made with input, and then have a single decider. In addition, teams should de- termine the process for gaining consensus, presenting dissent- ing opinions, and soliciting feedback from diverse sources. 3. Get a Coach to Maximize Talents and Better Support Each Other The senior leadership teams that struggle the most tend to have members who are jockeying to be seen in the best light by the boss or view their priorities as negatively competing with other members. It is common for executive teams to have vary- ing priorities and perspectives on issues. It is this diversity of thought that needs to be lever- aged to make the best decision. In teams who struggle, mem- bers will use these differences to block progress or purposely undermine someone else’s view- point. These negative behaviors destabilize the foundation of trust needed within a team and CONSULTANT’S CORNER Team Check-In: Is Your Senior Team Using These Three Strategies? Danielle Crough, PhD, SPHR, SilverStone Group, Omaha, Neb. E XECUTIVE TEAMS IN THE BANKING industry make decisions that can impact thousands of people and cost millions of dollars. However, many of these senior teams are missing the fundamentals of having a high-impact team which can greatly reduce effectiveness and results for the entire organization. The key to having effective teams does not have to be time- consuming or extensive, and it is more than just basic teambuilding. Below are three small changes teams can make to have a higher impact and greater return on their investment in each other and for the organization: 1. A c t u a l l y Kn ow E a c h O t h e r , R e a l l y Kn ow Each Other Have you ever walked into a room before a meeting is about to begin and there is silence? And then, have you ever walked into a room and people are talk- ing about their days, weekends, and personal lives—the baseball games their kids played in, the movie they saw over the week- end? Depending on whether a room is silent or if there is lively chatter is usually a telltale sign that the team actually knows and cares about each other. Individuals who take the time to know more about others on their teams—profession- ally and personally—are more likely to have the knowledge and empathy necessary to openly share information needed when making big decisions and also be willing to state a differing point of view. Much of this is a result of trust that forms when we get to know each other better. Being a team that does “small talk” and even enjoys being with each other outside of the office has the potential to lead to better organizational outcomes. 2. Have a Defined Decision- Making Process and Follow It According to a Harvard Busi- ness Review Analytic Services Report, 1 nearly 75 percent of organizations have no formal decision-making process. When