What are the best tools and methods for measuring team performance?

In my experience, I used real-time work tracking solutions such as Trello or Asana to achieve optimal team performance. Encourage open communication by using feedback loops and teamwork platforms like Microsoft Teams and Slack. Use OKRs to match goals with organizational objectives. In the end, the secret is to develop a driven team of individuals who are dedicated to ongoing excellence and have a common goal.

Before settling on SMART goals, it is important to determine where the team is on its journey. Where Is the team in "Form, Storm, Norm, or Perform"? Doing well in the "Form" can look quite different from doing well in the "Storm". For example, to form well, we need to onboard fast, provide clear expectations of roles and how to work together. When storming, the focus shifts to how one behaves and communicates with each other, to 'quarrel well', to listen well, to discover quickly how to be helpful to each other.

What I find helpful is that the KPI must not necessarily be management-enforced. The KPIs must be drawn up with team members- this gives a sense of ownership to tasks, and the indicators are almost always met.

Without genuine honest feedback the task of management may as well be done by a machine. Only though hearing another person's perspective can we empathise with their situation and motivate them to perform at their optimum output. The strength of that personal relationship is the best predictor of performance, 'if we know how they tick, then we can coach them to be a metronome'

Have a healthy balance of qualitative and quantitative data. The former is for conversation and discovery, while the latter is for norming and benchmarking. More importantly, every team member must demonstrate feedback seeking as a team behaviour. Don't be too quick to give feedback when one is not yet known as someone who seeks feedback. When you seek feedback, you are actually training others how to give feedback.

Don't apply tools without first understanding what motivates your team. Some are intrinsically motivated. They may delight in the learning process and a sense of having grown. They need recognition for the effort put into such growth. Some are extrinsically motivated. They need to be rewarded for their performance. Some are performance oriented. They need to know how they fare against others. Some are relational. They want to be part of a team journey together with others. Figuring out what motivates your team will help you deploy the right tools.

To have 360 degrees of performance assessment, there are two approaches that we need to incorporate into the assessment. One is the objective criteria for identifying and defining the assessment criteria, eg. the SMART approach, and identifying and defining the Key Performance Indicators. The success and failure criteria must be predefined for each KPI. Performance management is not one-time and static in nature but rather a continuous process over time. The progress has to be measured, monitored, reviewed, and corrective actions taken when required. The second part of the assessment is subjective in nature and requires the ability to understand the individuals, the working environment, the culture, team bias, norms, the ecosystem, etc.

The key measurables for me are 'trust' and 'responsibility'. How much do you trust your team to get the job done the way you want it? If you have trust in them, and they take on responsibility, then they will perform to the peak of their combined potential. All the other metrics and methods are indicators that the work could get done, but only taking full responsibility for the task will overcome the hurdles, solve the problems, take pride in the outcomes and bring the team over the line.