Your personal and

professional developmentJoe Zavaglia, M.Ed.

Zavaglia Consulting, LLC

What will we be covering today?

National research findings on the development of

emerging leaders

Discussion of why these are important for your growth

and development

Historical role of Retail bankers in moving into the

executive suites

A five-step process for developing emerging leaders

How to make this happen at your institution

How will this assist in your professional and personal

development

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Key drivers of success

Leadership quality

Employee engagement

Employee retention

Customer satisfaction

Productivity

Quality of services

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Front line leader impact

Strong leaders increase:

Employee engagement from 9% up to 50%

Employee retention from 25% to 70%

Profitability 2.8x

Customer satisfaction 4.6x

Productivity 4.7x

Quality of services 4.4x

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Our challenge – lack of bench strength

Bench Strength

Ready

Not ready

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Leadership development

Was the #1 issue in:

2010 & 2011 IC4P study

2010-2012 in Hewitt study

Associates of European executives

2010 & 2011 CHRO studies by IBM

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Deloitte Survey

71% of executives expect to increase the focus on

developing high-potential employees and emerging

leaders

64% of survey participants plan to increase their focus on

accelerated leadership programs

64% have a high or very high fear of losing high-

potential talent and leadership

81% of companies with retention plans are increasing

their focus on emerging leaders

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Need for leadership

Bloomberg Business Week and Hay Group study found that companies ranked in the top 20 for leadership acumen significantly outperformed the S&P 500 in both the short and long terms. This makes finding, developing, and retaining effective leaders not only a talent management priority but also a business imperative!

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Boomer retirements

A critical mass of frontline leaders and executives is

driving the focus on leadership development

While retirement is nothing new, there are two

related challenges that complicate matters

The size of the retiree population

The lack of natural successors – too few Gen Xers

Leadership development of Gen Y’s is critical

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Employee retention

Strong correlation between effective leadership and retention

Manager quality – 50%Future career opportunities – 45%

Senior leadership reputation – 41%

Empowerment – 39%

Work-life balance – 37%

Note: Compensation was rated last at 28%

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Poorly prepared leaders

Less confident – Only 28% said they were

confident in their ability to lead within their first

six months as a new leader

More Stressed – Almost half 49% described their

first year as “stressful” or “overwhelming”

More Regretful – More than half 51% said that

they ultimately regretted taking the promotion

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Some of your challenges

Only 56% of frontline leaders feel their manager has the knowledge to support their development

89% of existing frontline managers have at least one leadership blind spot or more – thus they believe they are more skilled than they actually are

So a leader may have a self-perceived strength but the reality is - it’s truly a developmental need

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The invisible plan

Only 33% of frontline leaders have sat down with

their manager to agree upon a formal, written

developmental plan

This is by far the biggest contributor to the lack

of success of leadership development initiatives

Without a blueprint for acquiring skills and

actively applying them on the job, it becomes

highly unlikely for improvement

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The training waltz

Despite spending millions of dollars annually on

leadership training – companies aren’t seeing the results

in the workplace

Most leadership training programs do not teach the

most important skills:

Managing relationships

Guiding interactions

Nor do they provide enough opportunity for practice

and feedback

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Standing all alone

Most managers feel they are all alone in their

development because they are not getting sufficient

attention or support from their manager or their

organization:

53% say their development assignments are good learning experiences

49% get sufficient feedback about their performance

46% feel their manager is committed to their development

40% are satisfied with their organizations development offerings

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Key leadership attributes of

successful leaders

Engaging and inspiring others

Sustaining a positive outlook to approach challenges

with confidence and optimism

Process a strong achievement orientation and drive for

success

Exhibiting high work and ethical standards

Demonstrating a continuous learning orientation

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Retail bankers in executive suites

Search for information about former retail bankers now

residing in the executive suites of banks

What do you find?

Why have retail bankers traditionally not ascended

here?

What is the future of banking and what can you do to

prepare yourself for a key role?

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Priorities for 2020

(PWC.com/banking)

Developing a customer-centric business model

Optimising distribution

Simplifying business and operating models

Obtaining an information advantage

Enabling innovation, and the capabilities required to

foster it

Proactively managing risk, regulations and capital

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Four central elements

Assessment

Measuring an individual’s readiness. Are they ready? What are their strengths? What gaps do they need to develop? Are we sharing this information with them? Generally we aren’t!!!

Acquire

Are we creating a written development plan to address how they will acquire the skills to fill the candidate’s gaps?

Apply

What are we doing to have them immediately apply the skills they have learned?

Support

What sort of organizational and management support are we providing to our Emerging Leaders?

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Assessment

How is your readiness being assessed?

Succession planning

High level discussions by bank executives about you

Is this information being shared with you, an emerging leader? Are you being told what others think?

My experience was I knew my name was on the list with little or no feedback or written development plan

My employees who I identified as a future leader. If I didn’t develop them myself it wouldn’t happen because there was no formal program. It was up to me to mentor and develop them and provide them the learning opportunities they needed to move to that next level of management

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Acquire

Do you have written developmental plan in place for yourself?

How often is it reviewed?

Does it include the two most important skills of:

Managing relationships

Guiding interactions

Are you being giving enough opportunity for practice and immediate

feedback?

How fearful is your organization of losing you, an “up in comer”? Do they

provide you with constructive criticism? If 89% of us have one blind spot or

more then how honest is the feedback we’re receiving? How are you

being coached?

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Application of newly developed

skills

Are you being asked to immediately apply skills you have learned?

What are you doing today to make this happen if you aren’t?

When talking with many students who are recent grads of various developmental classes the reality is their newly acquired skills generally wither away because they aren’t called on to practice and strengthen them, nor are they asking to do so

If one of you’re in one of these programs how actively are you participating in enhancing the new skills you are acquiring, especially if its in an aspect of banking where you are not working?

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What am I seeing?

Today’s emerging bank leaders are

Hungry – you want to learn as quickly as we can feed you

Intelligent – your basis for knowledge acquisition is immediate so we need to feed your almost insatiable quest for knowledge

Want to think outside the box - but we keep forcing you to stay within it

– what worked for me as a leader is not necessarily the skills you need to

prepare for the onslaught of competition that is right around the corner

Aren’t afraid to challenge the status quo – this makes many of today’s

leaders uncomfortable and can give them the mistaken feeling you

aren’t respectful enough of them or the potential hazards of your

ways…nothing is farther from the truth!

Need more coaching than they are aware – you can be overconfident and unaware of your blind spots as earlier noted so we owe it to you to

be honest and clear with our feedback and constructive criticism

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5 step process for your

development

Step 1 – Define the attributes of a successful leader at your institution for example:

Engaging and inspiring others

Sustaining a positive outlook and approaches challenges with confidence and optimism

Has a strong achievement orientation and drive for success while caring for others

Exhibits high work and ethical standards

Demonstrates a continuous learning orientation

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5 step process for your

development

Step 2 – Perform a self-assessment in the following areas: Current knowledge levels of the organization, its products, services,

customers, business processes, strategy, competition, financial metrics, and other key factors

Experience levels in leading cross functional teams, effectively managing the performance of others, coaching and developing others, providing support and feedback to their your reports, and exemplify solid working relationships

Have you demonstrated the ability to put the needs of your employees and that of the company before your own, in other words are you a self-less leader?

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5 step process for your

development

Step 3 – Meet with your boss/mentor regularly – ask

them to: Assess your strengths and skill gaps that need to be developed, and you do likewise

Request a 360 review

Concisely state what developmental needs have been identified by the two of you

and what your 360 review has revealed

Jointly create a written developmental plan with your boss/mentor to address how

you will acquire the needed skills identified through the above steps

Ask for the opportunity to apply the skills you are developing

Have specific time frames for assessment and measurement of your developmental

progress

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5 step process for your

development

Step 4 – Measure the key attributes of successful leaders

as identified under Step #1 on an ongoing basis

Engaging and inspiring others

Sustaining a positive outlook and approaches challenges with confidence and optimism

Has a strong achievement orientation and drive for success

while caring for others

Exhibits high work and ethical standards

Demonstrates a continuous learning orientation

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5 step process for your

development

Step 5 – Do the following if you are involved in developmental programs and be sure to discuss with your boss/mentor: What you’re learning as soon as you return to work

Ask what the bank can do to help you reinforce the learning you obtained from the class/developmental program

Teach what you learned to other employees. One of the best ways to reinforce new learning is to teach it to others!

Remember this is the banks opportunity to test your ability to retain and apply learning in areas that are outside your comfort zone or current skill levels

Ask for assignments to lead cross functional teams to assess your ability to oversee the development of new ideas and include the thoughts and ideas of others in the process

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How do you make this happen

where you work? Review this presentation with your immediate supervisor/mentor and obtain

their support

Enlist the support of HR

Ask what you can do to make this process a reality where you work

Volunteer to pilot this program

Follow through to the end, and don’t skip any of the steps, no matter how distracted you become – the success of the program will depend on your continued passion and dedication to seeing this through

Continually ask for feedback, be open minded and open to constructive criticism

Be proactive, if you don’t drive this it won’t happen!

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Keep these factors in mind

As bankers we typically adapt to change slowly – our comfort with the

status quo is a big challenge for us! Remember this as you gently prod your

organization to adopt this program

Being seen as a change agent who also displays a high level of sensitivity to

the impact change has on the employees as well as the organization is

critical

Take baby steps and don’t get discouraged

Enlist the support of key executives across divisional lines

Build a case for why this would be beneficial to your organization – what

are the benefits

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Summary

As you have seen the development of “Emerging Leaders” is not an

easy task

It is a multi faceted and complex objective

Requires consistent monitoring and joint exploration of the best learning

methodologies for the EL and the bank

Is a joint effort by the EL and executive leadership

There are risks involved, but better to examine and identify them early

on in the developmental process

Requires commitment and dedication by the organization and the EL

Is a necessary step for us to take to prepare the next generation of

bank leaders

It’s the right thing to do!

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Questions

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