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Building High-Value Teams Part IV: Stakeholder Relationships

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byJudy Murphy, Murphy’s Executive Leadership onAugust 17, 2021

People and their teams are the key drivers to organizational success. There are five critical areas that teams need to pay attention to ensure that their organizations stay relevant and add value. We’ll look at one of them in this article.

In previous articles we have covered stakeholder expectations, team tasks and team relationships. In this article we will explore stakeholder relationships.

We previously addressed understanding stakeholder expectations for our organization. Teams can only make a real difference through connecting and engaging effectively with all their stakeholders in order to add value and make better decisions.

1. The team effectively engages and influences its stakeholders.

It is important that the team develop its collective empathy – the ability to walk in the shoes of its stakeholders. The team distributes responsibility for stakeholder relationships. The team also ensures that each team member represents the whole team when engaging with stakeholders.

2. The team develops real insight into connecting the needs of the organization with what is important to each stakeholder.

The team focuses on moving from a “customer-supplier” relationship to a true partnership with its major stakeholders by focusing on who both parties jointly serve. What can you and your stakeholders achieve together that you cannot do apart? What is the nature of the relationship between the team and its key stakeholders? How can your teams engage with stakeholders as partners?

3. The team seeks feedback from its different stakeholder groups at appropriate intervals.

It is critical that the team proactively seek feedback from all stakeholder groups and remain flexible and open to working with stakeholders to find innovative solutions. Which stakeholders are you not engaging with enough? Can you seek more frequent and meaningful feedback?

Take a moment to consider how you connect with your stakeholders in order to create high value and realize your business goals. What is working well, what can be improved? How can you move from a supplier/customer relationship to a partnership?

Read the next article in the series on team learning.

Judy is a Certified Executive Coach (Royal Roads University), a Chartered Professional in Human Resources (CPHR Manitoba), a Certified Management Consultant (CMC Canada) and an FCPA, FCA. She is a Certified Myers Briggs Practitioner. She is also certified in DiSC and Motivators through TTISuccess Insights and in Emotional Intelligence (Eqi2.0 and Eqi360) through MHS Assessments. Get in touch with Judy through her website or connect on Linkedin.

Work with a team coach

For support on building high-value teams and tips to strengthen your stakeholder relationships, connect with a team coach or business consultant on Vexxit.