Teams | Collaboration | Customer Service | Project Management

In today’s quickly evolving work environment, the concept of team effectiveness is not only a term; rather, it is a vital component of effectively managing a profitable firm. To what extent does it represent something, and how can we separate it from the concept of efficacy? In the realm of group dynamics, effectiveness relates to the attainment of the desired outcome, while efficiency concerns itself with the maximization of output while minimizing resource waste.

These past few years have seen big changes in the way jobs are done. Soon, working from home will be the norm instead of the exception. This change has changed how we think about efficiency and freedom at work. It’s been caused by changes in technology and world events, most notably the COVID-19 pandemic.

Thousands of IC pros passionate about elevating employee communication and experience tuned into our first-ever Internal Communications Virtual Summit. And wow, we learned some incredible insights, innovative strategies and forward-thinking best practices from industry experts on topics ranging from harnessing AI for comms to research into the current state of internal communications and lots more in between.

You’ve got a new team member! They’re a hard worker who doesn’t mind doing repetitive grunt work, a great sounding board for ideas, a brainstorm buddy, a lightning-fast writer of blogs and social posts, and a smart editor. And they’re an AI. That's right, the Teamwork.com AI assistant is here to help you do better, more creative work for your clients at the press of a button. Fewer redundancies, less manual labor, higher quality writing.

If you calculated the cost of lost business, customer churn, and wasted employee time from inefficient processes, what would you find? Every time you add new staff or technology to your business, your processes and workflows evolve. I’ve seen first-hand how these micro-changes add steps and complexity to your work — until you’ve inadvertently created a monster of frustrating and expensive inefficiencies.

Jack Welch wasn’t a banker. So what can Jack Welch — as successful as he was at GE — teach us about project management in banking? Plenty. Project management in banking has its fair share of complexities and challenges other industries don’t share — and we’ll get into those in this post. But even though the specifics can vary quite a bit, the core or soul of good project management is built on the same principles no matter the industry or context.