Our Attitude shapes our Behaviour, and this directly impacts a TCF Culture
What we measure and acknowledge in a TCF culture gets repeated!
Our attitude is a significant driver of achievement and successes, both with customers and employees. This attitude is directly shaped through regular acknowledgement, reward, and a supportive environment that reinforces the right behaviours. Focusing exclusively on outcomes leads to disengagement and bad behaviours as seen in the Wells Fargo fake accounts scandal. Workers were pressured to sign up numerous accounts (outcomes based), and the process (how) was largely ignored. A sales-above-all culture rooted itself so deeply among Wells Fargo employees that it eventually spiraled out of control. How we do things, and what we do are essential in creating a culture with a strong Treating Customers Fairly TCF focus.
Our attitude and behaviour each day builds our culture.
When we acknowledge and reward the wrong attitudes (profits at all costs) and behaviours (the end is all that matters – i.e. x number of accounts) then we embed behaviours that damage our culture – leading to TCF non-compliance, fines and a loss of customer confidence. We need to proactively and consciously reward and acknowledge the right attitudes and behaviours. TCF culture stories embed how should act and the behaviours expected throughout the organisation.
Do you have a TCF-ready culture?
6 attitudes that lead to an embedded TCF culture:
1. A customer-centric service focus.
Key to our sense of personal motivation (and engagement) is our sense of belonging and believing what we do matters. This is most easily accomplished when we feel we are part of a team and our contribution supports the team and services our community. As a team we can achieve far more than we can individually. Proactive leaders focus on providing employees with the support, tools and training to do their jobs better. Employees with a “me first” survival and self-centred focus (due to Wells Fargo type sales outcome pressure) feel justified in not caring about the customer or the organisation. They are just trying to keep their jobs and survive. Aligning an employee’s personal values, goals and development with the strategic TCF goals of the organisation increases engagement, and ultimately helps them serve their customers better. Teams like to share knowledge and skills but will not if they feel they must compete or feel their jobs are threatened. When the fair treatment of customers is part of your culture, employees are less likely to hoard their knowledge and more likely to make exponential leaps in effectiveness.
2. Humility and flexibility.
It is arrogant to think that we know everything about a field, and this often leads to an inflexible attitude to change. Humility is the attitude that allows us to view each opportunity as new, and reduces our reliance of automatic assumptions. Humility allows us to question more and learn from mistakes. Jim Collins talks about Level 5 leaders in his book “Good to Great”. Level 5 leaders ask questions, they ask for help and share the credit. Success relies on the effort or knowledge of teams – we all build on the knowledge of those who have gone before us. In a world filled with exponential change, leaders and employees with more humility tend to be more willing to change.
3. Action orientated leadership.
Are you ready to participate in your TCF strategy? TCF Strategies rely on the buy-in and willingness of our people to participate in making it a reality. All strategies require planning, but without conscious action and employee participation the strategy will never be effectively implemented. We can never know every possible variable, but at some point we need to begin and adapt as we move. Procrastination and trying to be perfect prevents action. Success begins with strategy, but requires conscious action and participation to succeed. Continually adapting, revising and refining the strategy is necessary, but without taking the first step your strategy ends up on a shelf somewhere.
Leadership is about more than just today, it requires short, medium and long-term thinking. Leaders need to inspire, motivate and engage the organisation as a whole to build capacity, and a sustainable future. Proactive leadership is about more than authority, it requires demonstrating best practise. Become the type of person people want to follow not because they have to, but because they want to. Building respect and trust takes time and consistent action. Leaders and team members with a positive mindset add energy to a meeting (or client interaction); while those with a pessimistic outlook drain everyone. Additionally, an optimistic client-centric mindset is infectious.
5. A people-centric volunteer attitude.
Cultivating a culture of going beyond assigned roles, where we all volunteer to pitch in where needed helps create a positive TCF experience for customers, and employees alike. Rewarding and acknowledging employees who seek responsibility, before it is delegated, helps embed this culture. Additionally, getting involved in a Community Service initiative (CSI) can help employees feel they are contributing to something bigger than themselves. Those who participate in these CSI programmes are also more likely to volunteer to help others internally (e.g. training or mentoring new hires) as they see the value of support, and have felt the intrinsic satisfaction of helping others.
As we become more self-aware we become better at knowing what drives and motivates us. This awareness helps us understand others too, and also improves our interpersonal relationship skills. Self-awareness leads to increased empathy, and as such improves our ability to contribute to a TCF culture in which customers can have high confidence. When we become more self-aware as leaders we find it easier to help others overcome areas of weakness, rather than simply judging them. Self-aware leaders tend to demonstrate more empathy, compassion and kindness. As they understand how it feels to be ignored or treated with disdain, they are able to treat people more fairly. This treatment demonstrates the type of fair behaviour we expect employees to demonstrate with customers too. Self-aware leaders and teams also tend to be better at sharing knowledge, solving customer problems and team challenges.
Creating an Emotionally Intelligent TCF work environment starts with rewarding the behaviour and attitudes you want repeated.
The ABC’s of embedding a TCF culture #Infographic
To help you build and manage a TCF ready culture contact us today
Latest posts by Richard (see all)
- What does Treating Customers Fairly mean, and how will it impact you? - March 24, 2017
- Embracing and embedding TCF compliance principles - March 22, 2017
- Elements for customer onboarding in Financial services - March 13, 2017