Leadership Archives - Page 3 of 3

Why you need a thinking partner

Whether you’re new to the C-suite or established in your role, there will be times when you will benefit from a trusted partner to develop ideas with, in a collaborative exchange.

For those who have recently made that exciting next step on their career trajectory, there might be a need to level up in terms of leadership contribution. For example, you could be navigating new stakeholder relationships, while trying to establish your credentials leading teams who, until recently, were your peers.

More experienced leaders will face crossroads when they come up against particularly challenging situations and talking things through and getting a second opinion from a trusted confidante helps provide clarity regarding their strategic choices.

In both cases, a supportive and candid conversation with an experienced partner who has a clear understanding of the financial services industry allows the leader to step back from the day-to-day and do some deep thinking. This results in more incisive and effective decision-making, greater personal assurance and the potential to transform business performance.

Confidence and clarity

Conversations of this sort can help clarify what is going on for your business, for your team and (most importantly) for you and support you work towards finding more confidence in a well-thought course of action.

Of course, this type of relationship has existed in some form for millenia. The word mentor comes (quite literally) from Greek mythology when Odysseus appointed an old friend, Mentor, to watch over his son Telemachus. Some would consider Queen Elizabeth II to be the ultimate mentor as she held weekly meetings with every UK prime minister throughout her monarchy, offering an experienced ear, context and (very occasionally) a comment.

In a similar vein but with some obvious distinctions, the leadership advisory relationship performs the same function for modern day senior executives at the helm of their enterprises. A trusted sounding board offering a fresh perspective and informed insights can help solve complicated problems. In some ways, there are similarities with the sporting arena where elite performers have a number of specialist coaches focusing on different aspects of their endeavours to achieve peak performance when it matters.

Regular discussion with an expert can help develop self-awareness. We become able to more clearly identify our strengths and also the areas we can improve upon. The learning edge will differ between every leader but the next steps remain the same – now we know where there is room to grow, what will we do about it?

A worthwhile investment

The sporting similarities only stretch so far though. In business, we have to learn and perform simultaneously. We don’t have an off-season to prepare for the what is to come. So just the act of taking the time out within a tailored and sometimes robust conversational framework can help provide the breathing space that helps see old problems with new eyes. Taking this time to invest in your leadership skillset and decision making reaps rewards for the whole business now and into the future.

One client says partnering with a Goldcrest Partners leadership advisor “motivates me to implement impactful business outcomes. They ask provocative questions that guide me towards solutions that balance the needs of my business with those of my team.”

The client had confidence that our advisor “has a deep understanding of the obstacles faced by a leader and is able to share their past relevant experiences as they have worked in the same industry as me.

“They genuinely care about my success and the success of my team.”

While sharing your professional hopes and fears may seem daunting at first, there’s really nothing to lose and much to gain. Maybe now is the moment to take that next step.

7 steps to leading a high-performing team

To the casual observer, a high-performing team can look almost effortless, with a sense of collaboration and cohesion, ease and authenticity that just clicks. Every person understands their role, the goal and is fully engaged in the ongoing success of the business.

But achieving this status doesn’t happen by happy accident, if anything it takes as much work as the “day job”.

So what if we applied the same strategy, research and analysis to optimising the operation of our teams as we do to the service of our clients? How would that look?

Goldcrest Partners co-founder Tim McEwan draws on his experiences of teamwork during his career in the British Army to highlight 7 conditions that he believes are essential to success and take away the guesswork.

The model offers a systemic framework to create the conditions that pull together individual brilliance into collective power, allowing each team to define for itself what high performance looks like for them and the journey to get there. As a process, it’s intensive but the results are compelling.

This will be a series of 7 insight pieces, starting with Trust which you can read below.

Trust

We perform well perform because we trust each other. We trust each other’s alignment to our shared goal. We trust each other’s commitment to work hard. We trust each other’s skill and ability. We trust each other to look out for each other. We trust each other to hold each other to account.

Trust is essential to any high-performing team, and many of the most serious challenges to effective team functioning derive from its absence. Patrick Lencioni’s seminal work The Five Dysfunctions of a Team places trust at the foundation of a functional team for good reason.

By its very nature trust is something to be granted rather than made. We cannot insist someone trusts us but we can inspire the conditions under which they may chose to have faith in our trustworthiness. The same is true within teams. Trust within a new team needs to built. It can only be based on exchanges completed. Over time it evolves and develops, is galvanised by shared experiences, wins and losses. Teams are rarely static and the high-performing team is critically aware of the varying trust capital within the group as members change, relational bonds tear and repair, and reputations are built.

Effectiveness of action is critical to high performance and trust is a crucial to enable this. When a high trust environment exists within a team, the division of labour can be clearer because there is confidence in the reliability of others to perform their roles. When we trust fellow team members word and deed, it allows us to focus on our own parcel of activity without double guessing and inefficiency.

Over time, most of us have developed the critical capacity to evaluate the triggers, cues and data to help us decide whether to trust or not trust. This becomes stretched when we encounter novel situations and a high-performing team is able to calibrate the context much more quickly and accurately than an individual.

In its essence, trust exists when we can reliably predict the behaviour of something or someone (including ourselves). Recognising the value of trust and how to cultivate it to create a high-performing team is a vital first step in achieving team goals.

How to balance confidence and humility

Confidence is a great strength in a leader when used appropriately. But we often celebrate its upsides while turning a blind eye to its drawbacks.

An appropriately confident leader is a great asset to their organisation and the people they lead. They tend to be open, assertive, reliable and honest.

However, we are all familiar with the notion that we can have too much of a good thing and most of us will have worked for someone who was all too sure of their ability.

Over-confident leaders often focus on their personal goals and achievements at the expense of their team or the wider organisation and blame others when something goes wrong.

Such leaders can also be closed off and hard to reach. After all, why be open to feedback when you already know everything there is to know?

This armoured and potentially arrogant way of being is a significant obstacle to good engagement and long-term success.

The strengths of the humble leader

By contrast, let’s consider the strengths of a humble leader, which include:

Listening
Teamwork
Soliciting feedback

Humble leaders encourage others to speak up and give their opinions, regardless of their position in the company. As Steve Jobs once said:

“It doesn’t make sense to hire smart people and tell them what to do; we hire smart people so they can tell us what to do.”

Such leaders are also commonly associated with positive traits such as sincerity, modesty, truthfulness, fairness and authenticity.

With so many positive associations with humility, why are so many business leaders so reticent about being humble?

Perhaps it’s because we’re bombarded with stories of strong, charismatic leaders in the business press. Or we’re influenced by images of strong leadership in the media. Or we just don’t want to risk appearing to not know the answer, doubt ourselves or be vulnerable. Reframing what it means to be a leader is a helpful starting point in shifting this mindset.

All coins have two sides

But what are the drawbacks of excessive humility? If there is a shadow to confidence, what is the shadow of humility?

For ourselves, if our doubts inflate, we can undermine our confidence and feel like an imposter who doesn’t know enough to deserve the role. A common fear around this is the sense that we got where we are by luck and will get found out someday. This emotional state can lead to rumination and dwelling on mistakes and feedback in a self-critical way that undermines learning and risk appetite.

For the people we lead, we might not be there for them when they need us.In conclusion, as with most leadership traits, there is a balance to be struck between confidence and humility. Too much of a good thing doesn’t seem to work and the best leaders have learned how to avoid the shadows and demonstrate both confidence and humility positively and, paradoxically, often at the same time.

As author Jim Collins wrote in his book Good to Great, those chief executives who most often helped to transition their companies to outperform their competition exhibited two key traits:

Humility
A will to advance the cause of the whole organisation

The empirical evidence is that both humility and confidence are critical to success.

Challenge and support in the workplace

Did you ever have a teacher at school who influenced you? Maybe even changed your life?

When I reflect on conversations with the people I have trained, coached or just met along the way in my time as a leadership developer, I notice how often an inspirational teacher from school is fondly remembered.

In any performance environment, knowing when and how to challenge or support people is a vital leadership skill and I can think of few professions which know more about how to do this well than teaching.

For some of us it is natural to want to stay in our comfort zones. As we mature and grow, we learn how to be more comfortable with pushing ourselves. Being stretched and challenged is uncomfortable for all of us initially, a bit like yoga or weight training, but with practice we get better and it becomes a habit.

I spoke recently with Louise North, Principal of Framlingham College, for her perspective and she described that when she started her job, she noticed the school was doing an amazing job at supporting and nurturing pupils – but that there was room to challenge them more.

“The school had a reputation for kindness and niceness, but we weren’t actually challenging the children to reach their full potential,” Louise said. “Kindness is not the same as accepting mediocrity – it’s just the opposite.”

Louise encouraged the teaching body to challenge the students more, giving them the confidence to do so with her support. She also encouraged the staff to be honest with parents about their children’s performance and to work together to motivate pupils more. It all served the goal of enabling children to reach their full potential within a supportive environment.

So, if this is the task at hand, how can we do it well?

Challenge and support

How can we define what it means to be challenged or supported at work? How, as leaders, can we try to achieve that same level of balance as the inspirational teachers of our childhoods?

A leader can challenge by questioning the status quo, looking for continuous improvement and keeping things moving. A leader can also support by checking in often with their team, encouraging everyone to participate and offering coaching where needed.

These are behaviours where we may have a natural preference to do one or the other and it takes self-awareness, emotional intelligence and developed skill to read the situation and respond accordingly.

The best leaders are able to both support and challenge, in the right way at the right time for the best results.

The value of big picture thinking

Getting lost in the detail is a risk for many business leaders. It can often impede performance, and remains a familiar and easy mistake.

Leaders tend to be promoted into a senior role after showing themselves to be brilliant at the details of their previous role. Former sales leaders become MDs who still love sales and selling. CFOs get promoted to CEO but may not stop thinking in the language of numbers.

This is like a violinist being promoted to conductor and focusing on the string section instead of the whole orchestra. The problem with this is obvious. Rather than getting mired in the detail, the new role demands that the leader broadens their view across the bigger picture and allows their team to work out the steps required to make that big picture goal a reality.

What is a big picture and why is it important?

A big picture is a compelling vision for the whole team. It might be a bold statement, a vision, a feeling or a dream of where an organisation wishes to be in the future.

The end game is the same: it is a shared hope for everyone to work towards. Everything a team does is in the context of and with reference to the big picture, moving the organisation forwards.

As an example, think of John F Kennedy’s speech to the US Congress in May 1961, when he said:

“I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the Moon and returning him safely to the Earth.”

While the gendered language has not aged well, the point here is that he didn’t focus on the details, but the vision of the future. JFK invited others to join him in making something seemingly impossible come true and his ambition was so compelling that it continued to inspire action even though he was not alive to see it happen.

The benefits of a compelling big picture

This ability to inspire is one of the chief virtues of a strong big picture. Teams thrive on clarity and focus, on working towards interesting and measurable goals, and on having clear timelines for achieving them.

Once you have a Big-Picture goal, you and your team can get into the detail and plan what needs to be done, and the various steps that must be taken on a day-to-day basis to achieve it.

Empowerability – the secret to maximising employee potential

Leaders are often advised that empowering their followers is the path to effective teamwork and success. It involves them providing resources, knowledge, skills, and support to their employees and team. Doing so facilitates and encourages employee participation in decision-making to help hit firmwide goals and achieve personal targets.

But to operate at Lightspeed, as exemplified by the success of the Pfizer Covid vaccine rollout, leaders must do more than just empower their teams. They need to ensure their members are ready to seize the opportunities given to them.

In other words, it is essential to consider a team’s empowerability. Arguably, it is just as important as a leader’s ability to empower.

Here, we explore why.

What is empowerability?

First, let’s look more closely at the notion of empowerability and what it means exactly.

Empowerment refers to the process of enabling individuals or groups to gain control over their own choices to help a team or department reach its aims and targets. It’s a key component of effective followership, where employees have the ability to take direction well and to do what is expected of them.

Empowerability, therefore, refers to a person or group’s inherent capability or want to be empowered. It emphasises the importance of building self-confidence, self-efficacy, and self-determination. It is dependent on individuals possessing certain qualities or attributes that allow them to be empowered or become agents of their own development.

Those attributes, skills and mindsets include:

A clear comprehension of accountability, understanding the need to take ownership of results and to delegate specific tasks to achieve the desired outcome.
Inner confidence in their ability to handle the responsibility, supported by feedback and a track record of success.
A deep understanding of their team members who, in turn, can be empowered if they are ready.
Recognition of their responsibility to question and seek clarification from those they follow, ensuring a thorough understanding of the task at hand. These questions and challenges are meant for improvement, not just to be difficult for the sake of it.
A clear grasp of boundaries and successful followership, while being willing to challenge them when appropriate for the best outcome.
Effective communication up and down the chain, reassuring superiors that messages are understood and clearly conveying tasks and responsibilities to subordinates.

Why is empowerability so important?

Empowerability is crucial as it increases and strengthens trust between team members, leaders and followers – making teams more effective. Plus, while trust is the foundation of any strong team, it’s vital in allowing leaders to delegate with confidence. Being able to rely on individual members, means a leader knows they’re going to perform and play their part. Then, subsequently, a leader has more time to dedicate to other value-added activities – not simply checking up on the status of a project or task.

Looking at the real world provides some colour on how empowerability can be so essential to a team’s success.

Consider an orchestra: to create a harmonious symphony, every instrument must play its part flawlessly. Each musician must possess the technical skills and mindset necessary to carry the melody and its supporting parts, maintaining the same level of excellence. Moreover, every member of the orchestra must trust that their fellow musicians will fulfil their roles. The end result is a beautiful performance.

Or, in sports, when a player passes the ball to a teammate, the player needs to know that the recipient knows how to handle it, understands their options, can take responsibility and make accountable decisions.

How can you ensure employees can be empowered?

While some individuals have an innate empowerability, not everyone will immediately have the ability (or want) to be empowered. Across a global business, in particular, there can be difficulties with empowerability. These difficulties may arise due to different cultures having different approaches to leadership, leadership styles and followership.

However, it’s possible to develop empowerability and train employees so that they can be active, effective team members. To do so, consider the following factors:

Access to information: Provide individuals with accurate and relevant information so they can make informed choices and decisions.
Skills development: Offer opportunities to individuals to develop a range of skills, such as critical thinking, problem-solving, communication, and leadership skills. Doing so will enhance their capacity to navigate challenges and exert influence.
Support networks: Encourage the development of strong social networks and support systems to foster a sense of belonging, increase social capital, and provide individuals with the emotional and practical support they need to pursue their goals.
Agency and participation: Encourage individuals to participate actively in decision-making processes, whether at the individual, team, or departmental level, enabling them to have a voice and contribute to shaping their own successful and prosperous career.
Advocacy and social change: Empowerability recognises the need to address systemic barriers and advocate for changes in policies, practices, and structures that hinder individuals’ ability to exercise their power and agency fully.

For leaders to support a team member’s empowerability, it can be helpful to remember a number of key ideas. Firstly, be brave and delegate – give people a chance to shine. You may need to support them, but they’ll never grow if you don’t. Additionally, be clear on your expectations as well as your boundaries. Finally, you need to be open and supportive of questions and challenges.

Making empowerability a priority

Remember, when employees possess the capability to be empowered, they transform into effective followers – a fundamental requirement for team success. So, by placing empowerability at the forefront, leaders have the power to unleash the full potential of their employees, fostering a culture rooted in trust and accountability. Organisations can then soar towards sustainable success amidst today’s fiercely competitive business landscape.