Many fondly recall their kindergarten years. The teachers had a supernatural power to transform children into students while also starting the learning process of basic life skills. Interestingly, many of these kindergarten lessons are just as important for financial services executives today, even more so for mortgage bankers going through tough times.
A best-selling book on this subject, Robert Fulghum’s “All I Really Need to Know I Learned in Kindergarten,” explores common lessons typically learned in kindergarten classrooms and applies them to adults as they carry powerful implications for executives.
Some key principles shared by Fulghum, as well as additional thoughts captured through interviews with kindergarten teachers can prove beneficial for financial services executives interested to rediscover the optimism, boundless energy, and determination of a kindergarten student. The following parallels are worth reviewing.
Listen
A difficult task for the kindergarten teacher is training the children when to talk and when to listen. Everyone wants to be heard and it appears each student has something important to share, but there must be order and discipline. The teacher instructs the students on classroom order and this begins with listening skills.
Some executives have an opinion about every single topic and feel it absolutely must be shared. As a result, meetings sometimes become more of an impromptu speech than a dialogue. Remember you have two ears, but only one mouth. Given this basic biological fact it seems we all need to listen at least twice as much as we talk.
Various studies have confirmed most people are ineffective listeners. After listening to a 10-minute oral presentation, “the average listener has heard, understood and retained 50% of what was said. Within 48 hours, that drops off another 50% to a final level of 25% efficiency.”
Multitasking and constant distractions draw our attention away. During meetings, focus on the speaker and remain attentive to the conversation. Three best practices for listening include:
•Anticipate the speaker's next point.
• Identify the supporting elements a speaker uses in building points.
• Make mental summaries as you listen.
During conference calls, the mute button does not provide an automatic permission to tune-out of the conversation. Many times when a question is asked of someone calling in remotely, they immediately ask you to repeat the question.
Sometimes this is due to technical difficulties such as rustling papers or muffled speakers. However, other times the employee simply tuned-out and needs help re-engaging in the meeting. If you simply do not have the time to dedicate to a particular meeting consider sending a designee.
One bank executive posted to his Facebook page, “I'm sitting in a corporate training seminar and falling asleep. Any ideas on how to pass the time?” The suggestions received were humorous, but the problem is real. How can employees stay engaged?
While focusing on a monotone voice immediately after lunch in a warm room can be challenging, my recommendation to this executive is to listen. Listen for new information and validate the information you’ve already learned.
Another best practice is listening with a critical ear to identify any discrepancies or areas for further clarification. You can follow-up after the training or meeting to confirm your understanding. Remember, the more you listen, the more you learn. And the more you learn, the more valuable you are to the organization.
Share
“Mine” is a frequent word used by toddlers. They believe possession is 99% of the law and whoever has the most toys wins. Unfortunately, some adults still have this impression. Building professional or personal empires is not necessary. After all, a famous carpenter once stated, “The last shall be first and the first shall be last.”
Many executives create their own domains or fiefdoms where they control access to information, products, or technology. This control gives them power, and power gives them security. However, it is generally more beneficial for the company and the employees to share.
How can others in the organization benefit from the assets within your division or department? How do decisions you make impact the overall greater good of the corporation? Sharing resources can be mutually beneficial and helps to build a cooperative team spirit with others.
For those who are out of the practice of sharing resources, there is another sharing skill often all too familiar—sharing the blame. Too many times employees want to point a finger, misrepresent information, or pull other employees needlessly into a problem. Since appropriate accountability is important, develop effective processes and controls to create clear lines of communication and responsibility.
One charity organization considered adding a chief responsibility officer, or CRO, with the sole duty of holding everyone accountable. Often there is waste, apathy, or inefficiencies in organizations as well as in individual performance. Focus on who can serve as your personal and corporate CRO to help you achieve your goals and objectives.
Play Fair
The original movie “Wall Street” shows corporate banker Gordon Gekko (played by Michael Douglas) slyly sharing "greed, for lack of a better word, is good." Some today still believe in a “success by any means necessary” strategy. Besides the desire to have a clear conscious, playing fair with others can have profound effects.
A recent study by the Ethics Resource Center showed 49% of U.S. employees had witnessed misconduct on the job. Former Rep. Michael Oxley, co-sponsor of the Sarbanes-Oxley Act of 2002 and chairman of the ERC board of directors, said, “Business ethics is one of the pillars of a strong economy and in today’s environment, it is more important than ever that our nation’s business leaders set and meet the highest standards of ethical conduct.”
But playing fair is much more than just being ethical. When we play fair, decisions are made on fact and not emotion. Communication is solid, consistent and transparent. Teamwork is valued and rewarded. A favorite acronym for team is Together Everyone Achieves More.
One turnaround story is from a financial analyst who was a super smart guy, but saw each situation from strictly a pessimistic point of view. He almost seemed to take pleasure in squashing any new initiative or product suggested by others.
This analyst had the opportunity to work on a particular project where a mentor helped him carefully evaluate all the various components. The result was a modification directly impacting overall line of credit product utilization and profitability. With some education and computations this analyst presented the tremendous potential of a conservative approach that helped customers and generated an enormous revenue windfall for the firm.
By playing fair and taking the time to review all the information this financial analyst learned a new approach, gained additional respect from executive management, and helped drive significant incremental revenue for the bank.
Encourage Creativity
Almost every kindergarten student is an aspiring artist, architect, or superhero. Painting, coloring, drawing, building and using your imagination are all fun. But somewhere between childhood and our adult lives we are made to believe we can no longer have fun. That is simply not true. Even in the highly regulated financial services industry environment, creativity can be valued and embraced.
A favorite tool for fostering innovative thinking is the “Creative Whack Pack.” Created by Roger von Oech, this set of 60-plus cards provides short stimulating activities to promote creativity. This tool provides techniques to help alter thought processes and unleash your inherent creativity. When you are feeling low or simply average, consider how decision-making, idea creation, and information processing could be improved by encouraging your own personal creativity.
Employees need encouragement and freedom to do their jobs. Overly demanding or micromanaging bosses will quickly stifle creativity. In almost any position, some level of creativity can be extremely important. Companies benefit from employees who can creatively solve problems, find solutions to complex issues and develop better processes.
Focus on rewarding employees for initiatives that decrease expense, increase capacity, or increase revenue. This will prove beneficial to the company’s bottom line. Consider ways your firm can encourage creativity and problem solving. As Walt Disney once stated, “If you can dream it, you can do it.”
Use Kind Words
There is an old saying you can receive more with a pinch of sugar than a pinch of salt. Sharing ideas and making requests using kind words help produce a positive outcome. Frequent use of the words “please” and “thank you” go beyond common courtesies and demonstrate respect for the co-dependent relationship we develop and our appreciation for others who help use get our jobs done.
In my early financial services career, a manager noticed every email sent had “Thanks.” It was a simple gesture of gratitude taking just a few extra seconds and shifted my emails from demands to requests, from commentary to constructive feedback. By taking the time to say thanks or thank you, people are more willing to help you, and we all need help. With today’s sophisticated email systems such as Outlook, BlackBerries, Androids and iPhones nearly everyone has the option for automated signatures, which makes saying thank you every time even easier.
It is also important to use kind words in phone communications, videoconferences, as well as during in-person meetings. If you have perhaps gotten out of the habit, consider this an opportunity to recommit yourself to saying kind words. You will be amazed at how this one tweak can make your life and your job assignments easier.
Respect
Respect in kindergarten includes respecting the teacher, respecting authority and respecting your classmates. Sometimes respect is earned, sometimes demanded and sometimes ignored.
The word respect immediately prompts the thought of Aretha Franklin belting out her signature tune “R-E-S-P-E-C-T, find out what it means to me.” What is respect, and why is it so important? After all, this key word has its own song.
The word respect is defined as “a feeling of deep admiration for someone or something elicited by their abilities, qualities, or achievements.” How do we respect one another in the work environment? How can mutual respect prove beneficial to producing positive working relationships?
In the business world, respect means a deep consideration for others. This can be put in action by starting and ending meetings on time, promptly responding to emails and voicemails, meeting deadlines, and communicating in advance when target dates are at risk. Respect includes the golden rule of doing to others as you would have them do unto you and looking for ways to help your coworkers. Respect can also mean putting the other person or their interest first.
Brian King is president at Wisemar Inc.
