Fostering the Greatest Potential in Middle Management
It’s no secret these days that the landscape of employing banking professionals looks entirely different than in years past. Succession planning is no longer a natural progression of team members internally working their way up the ladder, experiencing first-hand all of the company’s strengths and flaws, collaborating with a team that is reliable and consistent, and waiting to take the helm when they attain the appropriate experience level. In today’s world, the middle management group is sourced from various places. Some are external candidates, walking into an environment they are not familiar with, working with a brand new team and process, and facing challenges unbeknownst to them. Others are promoted from within, which can be a great option, as long as the candidate is truly ready to take on the full scale of responsibilities that comes with moving up. Due to growing needs, shortened timeframes, and a lack of options, you often lose the benefit of “time” to groom a candidate, whether internal or external, and transition them in the way you’d like.
Whether your middle management team is experienced or novice, new to the company or been there for years, the one thing you can offer them that will propel their success and ultimately the success of your institution, is a resource. That resource provides them with a mentorship that can validate they are optimizing workflows and procedures; create or implement project and issue management solutions, and provide support to help integrate enhancements to a team or process. All of this coming from an external vantagepoint is advantageous in more ways than one.
The perfect candidate can fail in a management role, just the same as a less-than-ideal one can, if not given the right tools to succeed: a fully staffed department operating at full capacity, established and up-to-date procedures with an emphasis on utilizing technology, a willingness to speak up for changes needed, and the cooperation of others in the institution to hear out the challenges as well as ideas for transformation. Giving your management team access to an external resource to help check those boxes will not only translate to a faster success rate of addressing needs, but also provides the confidence to know that the team is focusing on the right tasks. If you’re finding that members of your management team are still adjusting to the landscape, adding a consultant to their toolbox could be the driving force that takes the operation to the next level.
For more information on how SCA can be a resource to your operations team, please contact Bill Dolan, Director, at WDolan@scapartnering.com or by phone at (617) 694-2617.
