Topics: Executive coaching

How vision and alignment propel high-performing teams

Here, we explore why they are such an important part of any team and why, ultimately, they are central to improving effectiveness and efficiency.

Vision and alignment: Defined

Vision is a clearly defined and ambitious goal that serves as the guiding principle for a team. It provides direction, motivation, and a standard for measuring success. Alignment, on the other hand, involves ensuring that all team members are on the same page, working cohesively toward the same, shared vision.

The role of vision

As a vision provides an unambiguous goal, it becomes the cornerstone of success. For, without a commonly understood and clear vision, how can a team know where to go? It may sound like an obvious question, but providing precise, ambitious aims is so often overlooked by a leader. A clear vision, provided by a leader, can be a team’s compass when other tools such as strategy and tactics seem to be overwhelmed by external factors and events.

That’s because a clear objective helps bring about alignment in team members thanks to a common purpose and a deeper meaning to a team’s work, which instils that much needed sense of motivation.

So, when a leader does outline and explain a team’s vision, it brings clarity and focus to actions, providing direction, and enabling the team to gauge its progress and success along the way. A vision, therefore, not only points the way forward, but also acts as the yardstick of accomplishment. It answers the question of how a team will recognise when they’ve achieved their goals and how successful they have been throughout their endeavours.

Imagine a sales team struggling to meet their targets. While the targets may provide some direction, a compelling overarching vision will keep their motivation high to ride out any short-term dips in sales. Furthermore, when team members share this vision and align their objectives, their collective commitment grows, driven by a shared understanding and a strong desire to play a vital role in the team’s overall success.

Maximising performance

High performance, then, can become the natural result of a compelling vision. But, the key lies in aligning all efforts and energy with that vision.

Tough decisions may have to be made to stop or change activities when they no longer add value to the final outcome. A compelling vision will encourage team members to ask themselves repeatedly, “Is what I am doing contributing to our goal?”.

Specific and conscious alignment of activities with the vision is also vital, but, equally important, is building alignment amongst team members in pursuit of their collective aim.

The complexity of alignment

Building alignment among team members is not simply about creating uniformity in behaviour, outlook, or approach. Nor is it just a question of persuasion or rationalising motives.

Instead, it centres on establishing a shared clarity of purpose. Relationships and attitudes underlie the social aspects of alignment, upon which successful outcomes can be reached. Trust and mutual respect are the key foundations of successful alignment amongst teams.

It also requires careful consideration of who forms the team and whether they possess, not only ambition, but also the capability to realise the vision. The right mix of skills, knowledge, and attitudes is therefore vital for a team to reach its full potential.

How Goldcrest Partners can help

Ultimately, the power of a clear vision and strong alignment cannot be overstated. If absent, even the most skilled, knowledgeable, and cohesive teams can fall short of achieving high performance.

Yet, when a leader establishes a compelling vision and reaches alignment within a team, that team can then reach their full potential, achieving all outcomes asked of them. Team members united by a common purpose, trust, motivation, and cohesion, are empowered to overcome challenges and meet targets.

Goldcrest Partners have a wealth of experience in helping teams achieve that all important alignment of vision so that average performance can be transformed into profound success. Contact us today so we can help your team establish this key foundation for high performance.

Elevating leadership behaviours in private equity

The Brief

The client was a senior partner of a US-based private equity firm. The brief was to support their transition from co-lead to sole lead of a significant investment strategy. The areas of focus included handing over deals to the others in the team, challenges with the team structure, and how to empower and engage their own direct reports.

The Engagement

The engagement was a 9-month executive coaching relationship with a focus on developing the next level of leadership skills to succeed in the new role. It included a detailed 360-degree process of interviews with critical stakeholders (both internal and external) followed by one-to-one coaching sessions.  Given the geography, these were all held virtually, and when the coach and the client occasionally were in the same country, they made the most of the face-to-face opportunity.

The Outcome

The client found the engagement to be valuable when it came to elevating leadership. Providing support at a time of change, insight about areas of strength and development, and the tools to take their leadership to the next level.

Leading through adversity

The Brief

The client was a NASDAQ listed asset manager who were looking to support a high potential leader as they transitioned from one functional area to another. There was a degree of organisational stress present due to market and competitive conditions, which needed navigating with assurance.

The Engagement

The engagement was a 9-month executive coaching relationship with a focus on letting go of subject matter expertise, building resilience, addressing team dynamics, influencing for change with peers, and developing strategic leadership skills. The meetings were a mixture of in-person and online, as best suited and engagement.

The Outcome

The client found the experience to be very positive with both the sector expertise of the Goldcrest Partners coach and their understanding of a diverse range of relevant topics standing them apart from other coaches. The relationship continues with an extension to enable continued support as the client is considered for promotion.

Engaging senior managers through empowerment and autonomy

The Brief

The client’s executive committee recognised the way to harness the power of the organisation was by engaging more effectively with the senior management level. The programme would aim to activate their potential by creating an aligned and motivated cohort who not only felt empowered but knew what being empowered meant. The goal was to devolve responsibilities and decision-making to the part of the organisation where the expertise existed and free up the executive committee to focus more on the strategic issues requiring urgent attention.

The Engagement

The engagement was to commence a discovery phase, which allowed us to understand the organisational culture and identify the leadership strengths and gaps of the senior manager team. We used this time to get to know participants and learn what they felt was important to address. The solution we designed was a multi-modular programme over eight months with supported peer coaching and daily application to help put the learnings into practice and embed behavioural change. The executive committee played a vital role through their internal engagement and endorsement of the programme, understanding the change required of them and underpinning a successful outcome.

The Outcome

The programme ran for three iterations with 36 senior managers over a two-year period. There was a significant improvement in engagement scores from this population and a marked increase in collaboration levels across this group. The executive committee felt more connected to this cohort and were able to delegate more significant decisions, freeing up time for strategic thinking.

Building bench strength in wealth management

The Brief

The client was a FTSE AIM 100 investment and wealth management firm with offices across the UK. The firm had grown significantly over the past 10 years and the new CEO wished to focus on developing the emerging talent within the business.

The Engagement

We were engaged to design and deliver a programme for the leaders who operated one or two levels below the executive committee. The programme’s aim was to furnish this cohort with the skills to be successful at the next level, develop leadership capabilities to support our succession plan in the short term and build a sustainable talent pipeline for the future. This was the first time the business had engaged in leadership development work and we were happy to guide and collaborate with the internal team.

The Outcome

We ran 4 iterations of the programme for c.40 senior leaders with great results. Immediate gaps in the executive committee were filled internally by programme participants. The longer-term succession plan became more robust and the general engagement of this population significantly improved. One outcome which was not articulated as an aim at the outset was that this population forged strong relationships and collaboration between functions in the business significantly improved.

Why balance is the key to successful leadership

Look for a model of leadership and you’ll find dozens, if not hundreds, of books or articles extolling a single approach as the key to success.

It might be courageous leadership or empathetic leadership. It might be how to be a more creative leader or a more engaging one.

There are books about how the art of leadership is all about empowering people, for example, or providing a supportive environment.

Unfortunately, leadership is not so simple. If it was all about empowering your people and delegating responsibility, then why does command and control exist?  If leadership was all about support, then how would we hold people accountable and set standards?

Sometimes, we do need to take charge and tell people what to do. Sometimes healthy challenge has a place.

At its core how we behave changes depending on context. How we behave at a birthday party is very different to how we behave in a business meeting. How we behave towards someone who is upset is different to someone who is overconfident and taking risks. We haven’t changed, but the context has, and we modify our behaviour accordingly.

Leadership is about matching behaviour to context

It’s the same with leadership. Leadership is all about behaviour, and behaviour is shaped by context. Good leadership is when we as a leader understand the context and behave to get the best out of our people in that situation.

Take the example of empowering people, although most of the time leaders benefit from empowering their people, there are certain situations where the circumstance dictates that a decisive and directive approach is required.

The art of balanced leadership is to find the most appropriate leadership response in the circumstance.

The spectrums of balanced leadership

Our model of balanced leadership has 6 spectrums of behaviour which we believe are key to fitting the leadership style to the situation. We explore each of them in a series of articles to understand the range of behaviour and how to adapt and adjust considering the context.

For most leaders, this means developing a toolbox of leadership behaviours to choose from, so you have the right tool available at the right time. It also means starting to be aware of your natural preferences, so you’ll know which behaviours might be second nature (and perhaps overplayed) and which may need practise.

Achieving balance is a process, not an end state

The truth about balance is that we are always working to find it. It is a process, not an end state. Once we find balance, the context changes and we need to rebalance again.

We intuitively know how do this. We learned to walk, ride a bike, dance and perhaps something more adventurous like skateboarding, surfing, skiing. All of these activities require us to find the balance point and continually readjust.

The task for business leaders is therefore to take this pre-existing skill, this implicit knowing and apply it in a professional landscape.

We believe that, if you seek balance as a leader, you will benefit, as will your team and your organisation.

How to have a successful career transition

Transitions happen throughout our working life, whether it’s a promotion, moving to a new city or leaving a job. In this insight piece we explore some common experiences and things to think about when leaving a job.

Who’s calling the shots

A key factor in our experience of a transition is whether we’re in control. Choosing to leave an employer for something new can be exciting, empowering and represent progress towards a desired destination. It is something that we are doing.

In comparison, being made redundant is something that has been done to us. It often comes as a shock and can be scary, disempowering and be a real setback. These experiences can be difficult to process but navigating the unfamiliar territory of a transition is essential to achieve good outcomes.

The first step is to quickly restore the control that has been diminished.

This is why transition coaching is so highly valued. Choosing to work with someone who is an expert in this specialist area brings certainty where there is confusion, connection at a time when there has been disconnection and confidence when there might be self-doubt.

Most importantly, in that action you are taking back control.

Time to reflect

There are some strong practical motives to get straight back to work. As a rule of thumb you’ve got more chance of getting back in if you act quickly. So there’s a bit of a sprint when the headhunters are interested and your knowledge is most relevant.

There is also an impetus to move quickly away from the sense of grief. Many people identify with their role and when that role doesn’t exist anymore, it can present quite an existential crisis. So there can be a psychological and emotional rush to get back as well.

Despite the urgency, making some time to look back and reflect can be hugely valuable. Exploring how things ended, re-evaluating your time in the role and what led you to it in the first place is an important way to learn, clear some difficult emotions and come to peace with the way things played out.

Elisabeth Kübler-Ross’s seminal five-stage model of grieving describes how we transition from denial to bargaining. When this doesn’t work we get angry, that doesn’t worth either so we get depressed before finally finding acceptance.

Understanding this serves as a good roadmap for career change and can also be helpful in personal transitions e.g. divorce, bereavement, empty nesting, retirement.

Taking stock

There are often a few core things to figure out when in transition:

  • Core identity: who are you beyond the various roles you perform? In life we have lots of concurrent roles and what we do for work can be central to our identity, self-esteem and self-confidence. Paradoxically we tend to feel happier and do a better job if our sense of self is independent and not conditional on what we do for a living. Getting clear on this can be life changing.
  • Core skills: what are the things you are good at that have a use in different environments. Developing a comprehensive sense of your transferable skills is great for confidence and also opens up new horizons where what you bring will have value.
  • Core needs: in light of the above what are your options? How do you balance your financial needs/ambitions with your wellbeing, your interests with what someone will pay you to do, the urgency to get back in with a moment to slow down and smell the roses.

Setting new goals and taking next steps

David Kessler, who co-wrote a more recent update with Elisabeth Kübler-Ross On Grief and Grieving: Finding the Meaning of Grief through the Five Stages of Loss, expanded the process with a sixth stage – finding meaning in the experience – which is well articulated in his HBR article ‘That discomfort you’re feeling is grief‘ published during the pandemic.

The meaning we make of the event is what surfaces when we make time to reflect and take stock and fuels our new goals and next steps.

Your goal might be as simple as looking for a similar job for similar money as quickly as possible. Conversely, you may wish to make a change. You may be at a stage of career where you wish to go plural with some NED/Advisory positions coupled with some consulting work.

Whatever the goal, getting really clear on what you would like to accomplish and how best to go about it is critical to success. Working with an expert transition coach can help you set these goals, plan how to execute them and support you as you progress.

It is often said that getting a new job is a full-time job in its own right. It is certainly a challenging but rewarding process that can pay-off in your next role, your self-confidence and the other transitions that life presents.

How to be at your best

Does the very thought of working on your performance mindset leave you with a knot in your stomach? Perhaps it conjures up images of learning survival techniques on an outward-bound expedition or an even earlier alarm in the morning to make time for a fitness regime.

While these endeavours have merit, in the everyday environment it’s not about climbing Mount Everest (although kudos if that’s something you’ve achieved!). It’s about being in good enough shape to navigate the specific challenges your work and life present.

“Mindset” is defined as the attitudes that determine how you interpret and respond to situations. Getting the right mindset to achieve your goals is the first step in identifying what is required to achieve peak performance in your chosen field.

This is when the highly trained experts at Goldcrest Partners can help. We take a holistic approach to the pillars of performance – cognitive, physical, emotional, physiological – and focus on what is important for you to perform better more of the time. It’s a complex, inter-related dynamic, but get it right and all the elements will slot smoothly into place – leaving you better placed to perform (and enjoy) life at work and at home.

Don’t follow the herd

Whether you’re a fund manager or a firefighter, in essence, performance coaching asks, “How do you do what you do better?”

To achieve this there’s been a tendency for ‘business’ to over-borrow techniques from the worlds of elite sport and the military. This choice is natural as they are environments where performance psychology has been an implicit and explicit part of training for decades and is a highly developed area of competence.

The reality though is that the financial workplace is a different environment with a different timeframe and different operating rhythm. Some qualities like discipline and teamwork tend to crossover well but as the performance criteria and the persistency demanded are different, so is the emphasis of the performance coaching.

At Goldcrest Partners our observation is that financial services over-index on cognitive performance, physical conditioning is the go-to stress management activity, and the emotional and physiological dimensions are most often overlooked. This makes sense because from an autonomic nervous system perspective, high achievers in financial services tend to be sympathetic dominant with a bias to action over rest.

This approach can work but it is akin to driving through a muddy field in a 2-wheel drive. The car can be as high-performance as you like but until its power is distributed evenly, it just spins away and potentially burns out before reaching its destination.

This behavioural tendency can also play out in the way finance professionals demonstrate an over development of technical and tactical skills with more emphasis needed on interpersonal and strategic aspects that are crucial to successful performance of the most senior roles.

Role specific

An accurate diagnosis of the key actions required to execute a role is essential.

There is no one-size-fits-all solution. Different roles in the finance industry are unique and evolve over time, so the performance criteria are different to begin with and then change.

For example, successful investment decision-making takes cognitive clarity and emotional intelligence, so a focus on those elements may be the primary areas of focus to elevate performance. Effective leaders of organisations benefit from having a clear purpose, being physiologically well-regulated and forming strong relational bonds, so that could be the emphasis for boosting performance in those roles.

What is consistent is the accurate identification of the capabilities needed to perform a role well and focus on these. Other elements that may be the most important in other elite performance environments could just be hygiene factors or not relevant to high performance in the financial services industry.

Individualised and effective

The assessment of the needs of the role is complemented by an internal appraisal of the individual. How you are doing, both personally and professionally.

This ‘diagnostic’ process can include many different inputs and tends to massively raise self-awareness which informs where to build up and balance out our capability to perform the task at hand.

We then work with you to design an easy and enjoyable framework that takes into account your professional and personal values and goals.

But a bit like business strategy, the success rate for a process such as this is low. Plans are often misguided, don’t get started and if they do, they seldom stick and that’s where the value of performance mindset coaching comes into its own.

Support, challenge – and have some fun

It takes practise and time to change habits. A combination of support and challenge in the right balance is a winning formula.

Receiving permission to rest and guidance on how to develop parasympathetic renewal techniques is important support for those who tend to be ‘always on the go’.

Shifting mindset that the process doesn’t need to be a painful 180° switch in lifestyle is invaluable. Often the smallest changes can have the biggest impact. Consider the 1 in 60 rule in which pilots learn that flying just 1 degree off course means after 60 miles they’ll miss their target by an entire mile. Now flip that on its head and apply it to the trajectory of your career, a small change to your direction of travel today can make a big difference to your destination in a few years.

Challenge lives in the coaching relationship and in the things you commit to do. It can take the form of acknowledging fixed mindsets that don’t serve you or your goals anymore. Holding you accountable to your plans and actions. These might be as simple as getting up an hour earlier to incorporate some exercise into your routine – or hitting the snooze button to get an hour’s extra sleep because you don’t really need to be in the gym six days a week. It could be a challenge to develop new interpersonal skills and upgrade your communication to transform the way you engage with your teams, peers and leaders.

The most effective approach to support and challenge is carefully calibrated and, most importantly, fun. Not only can it be enjoyable, but we also believe it has to be, otherwise it is just another chore on an already never ending to-do-list.

Perhaps this is the biggest mindset shift of all. It is easy to sustainably elevate your performance and enhance your long-term wellbeing while having fun!

Personal sustainability & renewal

That can be to our detriment particularly if it causes stress and burn-out.

Pressure can lead to stress which is accompanied by a strong biochemical reaction that can activate our fight / flight survival responses. When stress is chronic, the sympathetic nervous system is triggered too much and too often – leading to an ‘always on’ setting or ‘spike and crash’ pattern that can impact performance and wellbeing. As a consequence, working sustainably under pressure, requires behaviours that support recovery and, more interestingly, renewal.

As Richard Boyatzis wrote in “Thrive and survive: Assessing personal sustainability”:

“Cumulative stress contributes to a loss of engagement and cognitive functioning, and it reduces learning from coaching, training, or education.”

To prevent this happening, Boyatzis maintained that “the only antidote is renewal in terms of the arousal of the parasympathetic nervous system.” That’s because our parasympathetic nervous system calms us down after a period of sympathetic activation. These two branches of the autonomic nervous system work in tandem, an accelerator and a brake if you will, revving us up and slowing us down. When they are in harmony all is well, however if there is dysregulation then problems follow.

Given its importance, it is strange that we are not more explicitly aware of the value of renewal activities on the parasympathetic nervous system. Happily, we do know this implicitly and often naturally self-orientate towards them. Helpfully, they are also integrated with many social conventions, earning them a place in our rituals, hobbies and traditions.

Types of renewal activities

Considering what there is to gain from renewal activities, what exactly are they?

Broadly speaking, they can be categorized into four themes – all of which can stimulate that all-important parasympathetic nervous system. When choosing, the key is to find something you enjoy, so it doesn’t feel like a chore. If it’s fun for you, you’ll do it regularly. And, when it becomes a habit and part of your regular routine, you’ll start to reap the rewards from your consistent practice.

1.    Social renewal activities

Going out for a meal with friends or family is so much more than having a catch-up. When you’re laughing with loved ones, you’ll start to relax, alleviating tension in your body and brain and re-regulating your nervous system. Other social renewal activities to recharge your batteries are playing fun games with others, sharing in collective experiences like listening to music or singing or spending quality time with a much-loved pet.

2.    Manual renewal activities

If you like to do things with your hands, trying out some craft hobbies can be a fantastic way to take your mind off work and relieve any pressure. For good reason, mindful colouring has seen a surge in popularity in recent years. Or many people, who became keen gardeners during the pandemic, still enjoy their green-fingered hobby’s mental and physical benefits. You could also try your hand at painting, pottery, knitting, woodwork, flower arranging and, believe it or not, with the right mindset, even household tasks like washing up or folding washing can serve this purpose.

3.    Slow movement renewal activities

The advantages of high intensity exercise are well reported, but these are more of a sympathetic activity. For renewal activities, movement should take a slower pace. Walking is the prime example and one that can be done anywhere, with anyone. Yoga is another great renewal exercise, as are slower-paced martial arts like tai chi or qigong. Dancing is another great example of a renewal activity as could be light physical work of a practical nature around the house or through volunteering.

4.    Reflection renewal activities

Finally, finding time to reflect can be a highly effective renewal activity. If you have faith, this could include prayer and meditation, but if not, a secular mindfulness practice can serve a similar purpose. Walking is, again, another wonderful activity that’s great for reflection – especially when in nature. But really anything that you do that allows your mind to slip into neutral, wander and return, has great value.

Adding renewal activities to your list of things to do

When it comes to renewal activities, there is no better time to start than now.

However, by definition, people who need them most don’t seem to have time. Finding space in your day can be challenging but is essential to being able to sustain your performance and wellbeing for anything but the short term.

It might seem that taking time out is a diversion that stops you from working through your to-do list. However, prioritising a renewal activity will ultimately make everything on that list easier to complete. Your mind will be clearer, your mood better and you’ll be more efficient.

Renewal activities also inoculate us to the effects of pressure. They build our tolerance to stress and paradoxically enable us to accomplish more, whether that be in a the financial services or otherwise.

The inner game of tennis – how it can help off court

The physical practice necessary to become a Grand Slam champion is clear for all to see. It also requires a huge amount of mental work for players to be at the top of their game. In his seminal book, The Inner Game of Tennis, Timothy Gallwey explored the part the mind plays in successfully learning and performing in sport. It’s an interesting read with many themes that are also pertinent for those looking to improve their capabilities at work.

Here, we explore three of the key ideas Gallwey highlighted as vital to success in The Inner Game of Tennis: self-awareness, self-acceptance and self-trust.

Self-awareness

Self-awareness is a prerequisite for learning and growth. It provides us with the perspective needed to understand ourselves better and to recognise our strengths and weaknesses. Having self-awareness is vital as, without it, it is almost impossible to focus attention where it is needed. Being honest with ourselves helps us gain an accurate evaluation of where we are currently relative to our aspirations.

Self-acceptance

A key enabler of self-awareness is self-acceptance. Letting go of negative self-judgement and embracing ourselves as we are at the time removes a key inhibitor to being honest with ourselves. Gallwey suggests that self-acceptance enhances the accuracy of our self-awareness and reduces negative emotional interference that can get in the way. By accepting ourselves in that moment without judgement, we can moderate the discomfort of not being who we thought we were or want to be and treat any setbacks as learning opportunities rather than failures – something the numerous greats of tennis show during the ups and downs of their matches. The Inner Game of Tennis clearly showing itself.

Self-trust

If we accurately know ourself, we can trust ourself, allowing us to approach challenges with less doubt and more certainty. In 2023, Vondoursova was the first unseeded woman to win Wimbledon – something that would have been nigh on impossible to achieve without self-trust. She clearly showed that she believed in herself, took the opportunity presented to her and demonstrated the resilience necessary to take the risk of truly showing up and giving her all. Crucially, self-trust decreases a person’s need for external validation or approval. Instead, it helps a person improve their conviction to pursue and achieve ambitious goals – be it to win Wimbledon or to achieve other personal or professional aims.

How a coach can help

Of course, knowing that self-awareness, self-acceptance and self-trust help us learn and perform better is very different to actually being able to do these things.

Fortunately, they can be developed – especially with support from a coach.

For instance, coaches can play a significant role in assisting individuals in developing self-awareness. Through reflection and feedback, coaches can help clients gain insight into their strengths and areas for improvement. For example, Novak Djokovic is now excellent when he comes into the net, whereas in the past opponents recognised this as his weakness. His coach, Goran Ivanišević, helped him identify this as a development area and he then did the work to round out his game. Coaches, therefore, act as a stark mirror, reflecting back a truthful image.

When it comes to self-acceptance, coaches can help a person quieten their inner critic. By creating the opportunity to get to know our inner critics and their motives better, we are able to renegotiate that relationship, making room for a happier and more liberated mindset. In doing so, a coach can facilitate a healthier intrapersonal relationship. Having been a runner up in three grand slams, how Ons Jabeur processes her disappointments through this lens will likely be key to her future success. 

Finally, coaches can also assist in developing self-trust and build confidence. True trust requires us to know both what we can and can’t achieve. Gallwey saw an unfettered positive psychological approach as a prohibitor of self-awareness. In a similar way to the inner critic but with the opposite valence, a Panglossian attitude may not serve us well either. A balanced perspective supports good decision making, appropriate risk taking and can enable us to get into the coveted ‘zone’ where instinct and ego are in harmony.

Using Goldcrest Partners

We are experienced in helping individuals foster stronger self-awareness, self-acceptance, and self-trust. We work with people who want to enhance these skills, to build a solid foundation to develop and improve. In doing so, we support clients in their journey towards achieving their goals and realising their full potential. Call Goldcrest Partners today if you’d like to do the same.