Summary The concept of time perspective balance has attracted increased attention from scholars in the past decade, reflected in published evidence suggesting positive outcomes ranging from enhanced mood to life satisfaction for those individuals possessing balance among their past, present, and future time perspectives, and assumedly able to shift their time perspective to match situational demands. In this paper, we consider the notion of time perspective balance in an organizational setting within which much consequential adaptation often occurs—the team environment—and explore different configurations of time perspective balance in teams facing dynamic task contexts. Drawing from work on situational awareness, we first consider the mechanism by which time perspective balance likely influences individual adaptation in dynamic task‐focused situations. Next, we postulate what types of team configurations—ones with more balanced time perspective uniformity or ones with more time perspective variety—might be more appropriate in dynamic contexts given key team conditions. We illustrate our analysis with examples from healthcare team settings and offer ideas for future research.