The transition to Industry 4.0 and 5.0 underscores the need for integrating humans into manufacturing processes, shifting the focus towards customization and personalization rather than traditional mass production. However, human performance during task execution may vary. To ensure high human–robot teaming (HRT) performance, it is crucial to predict performance without negatively affecting task execution. Therefore, to predict performance indirectly, significant factors affecting human performance, such as engagement and task load (i.e., amount of cognitive, physical, and/or sensory resources required to perform a particular task), must be considered. Hence, we propose a framework to predict and maximize the HRT performance. For the prediction of task performance during the development phase, our methodology employs features extracted from physiological data as inputs. The labels for these predictions—categorized as accurate performance or inaccurate performance due to high/low task load—are meticulously crafted using a combination of the NASA TLX questionnaire, records of human performance in quality control tasks, and the application of Q-Learning to derive task-specific weights for the task load indices. This structured approach enables the deployment of our model to exclusively rely on physiological data for predicting performance, thereby achieving an accuracy rate of 95.45% in forecasting HRT performance. To maintain optimized HRT performance, this study further introduces a method of dynamically adjusting the robot’s speed in the case of low performance. This strategic adjustment is designed to effectively balance the task load, thereby enhancing the efficiency of human–robot collaboration.