Managerial skills are very important to possess when you’re in a role of leadership in a financial institution. However, you don’t want to just “manage”, you want to bring incredible productivity and enthusiasm out of your staff every day. It is an amazing feeling to have as a leader when your employees take their professional growth and performance personally to the extent where they don’t want to let you and the institution down. All of this and more can become a reality when you are regularly providing enriching coaching to your staff. Collaborative coaching is a two-way meeting where you have open and honest conversations with staff to set individual goals and discuss their challenges and areas of excellence. It is your chance to take on the role of mentor to listen completely, support and strategize with your employees to achieve institutional and individual goals.
When you infuse a collaborative coaching model into your management routine you will:
Instill energy and enthusiasm
When staff members feel that their manager/supervisor genuinely cares about their professional development, they will have a new found energy and enthusiasm to strive to achieve both their individual professional goals as well as the institutional goals. They know they have the support of their manager and as a result will work harder to please management.
Create tighter and more efficient teams
When you have an entire team that feels they are listened to and valued, you will be the proud leader of a force to be reckoned with. Your team will go above and beyond for you, and more importantly, all be on the same page, moving in the same direction to achieve goals and increase income.
Retain and attract quality staff
Providing a work environment with a strong and supportive coaching model will create an environment where staff will be loyal and dedicated to achieving all goals. They will also become phenomenal recruiters for your institution in times of hiring. Ultimately, your branch/institution will gain a fantastic reputation as an excellent place to work.
Discover and develop talent
The more you proactively coach your staff members through their professional development, the more you will get to know them and discover hidden talent and potential areas in which they can excel. This will come in very handy when looking to groom a particular staff member who would be a great fit for a professional opportunity to advance. It can also result in a rich overall talent pool to choose from as leadership roles become available.
Detect and Correct
You will soon find that you will have your finger on the pulse of what is and isn’t working well on the frontline in great detail once you begin collaborating through coaching your staff. Once you have established a trusting coaching model and get a routine set, staff members will be more open and honest regarding what they are struggling with and what they find easy to handle. That is when you can celebrate their successes and help them improve the challenge areas they have shared with you.
The more your staff members see that you’re investing time and energy into their professional growth in specific areas, the more self-aware of those areas they will become. They will begin to stop and apply the tactics and strategies you discussed during coaching meetings, knowing that they will be held accountable for sharing with you in your next coaching session how it went and reflecting on scenarios in which things went well and could’ve gone better.
With any initiative that brings great change and even greater results, takes an equally great amount of effort and hard work on the front end to have any chance of working. The most important part of this collaborative coaching model is trust. You will have no chance of ever having a successful coaching model if your staff members are holding back. If they are afraid that whatever they share with you in meetings will reflect poorly on them, they will not feel comfortable enough to tell you in what areas they are struggling. As a result, you will miss a golden opportunity to show him/her that you truly care about their professional well being.
If you are interested in taking advantage of the many benefits of our in-person banking solutions, please contact us today!