The Strategic Planning Lie That’s Keeping Banks Mediocre [VIDEO]
Roxanne Emmerich exposes the toxic lie behind most strategic plans—and the second-order thinking top banks use to pull away from the pack.
In this episode, I’m going to show you a powerful way for you to get your executives to understand that they own all the results for the entire organization—not just their silo—and what to do with that knowledge.
…You’re going to love this!
Unfortunately, that “act of kindness” actually ends up costing that person their job more often than not, so it’s not very kind at all, is it?
In talking to thousands of bank CEOs over the last 20+ years, I hear these three over and over again.
So how do we deal with it?
Create the “Rules of Engagement” for the executive team.
Unlike so many rah-rah, happy-happy, “team-building” exercises that are like Chinese food—you’re hungry an hour later—you need to go into the eye of the needle and create an understanding of the behaviors that are expected of your executives. Then, delineate the behaviors that won’t cut it anymore.
From “meetings outside of meetings” where people don’t say what they think in the meeting but then stir the pot afterward…
To not speaking up…
To pretending not to know…
You want to be clear about the behaviors you don’t ever want to see around that executive team table. Let everyone understand what gets you voted off the island.
Create “Healthy” Dissidence. Executive learning doesn’t just happen “between the ears.” Sure, book/classroom learning is great, but executive-level decision-making capabilities only come from making executive decisions and practicing candor with their peers.
As a result, executives go silent and “endure.” You want to make sure your team gets educated on how to bring healthy dissidence and extreme commitment to outcomes.
Complete responsibility for the results of the entire bank. Unlike many executive development programs where they teach you to “run your division,” healthy and sustainable organizations have a different distinction. If you’re on the executive team, you’re responsible for EVERYTHING. That doesn’t mean you get in and do everything—you run your division first.
It means that if something isn’t working in some other division, you say something, you offer solutions, and you make sure everyone knows this can’t continue. You DON’T wait for the CEO to have to do that, or you have just proven you’re “management” material instead of “executive” material.
Again, first, make it absolutely clear which behaviors you expect and what you won’t tolerate from your team. Then, demonstrate and teach healthy dissidence. If they care enough about the organization, they should push up against each other often. Finally, enroll your team in the idea that each one is responsible for EVERYTHING, and if there is any part of the organization that isn’t working, it’s their fault too. They need to rise to the occasion.
By getting your executive team to hold each other accountable to deadlines and outcomes, you know you can sleep at night because the strategic plan WILL be met or exceeded. It’s an insurance policy that means your bank gets to stay in business.
Make sure you tune in next time where I’ll show you how to deal with any shortcomings in the emotional intelligence of your team on average so that you can raise your chance of success and do it with more ease.
Roxanne Emmerich exposes the toxic lie behind most strategic plans—and the second-order thinking top banks use to pull away from the pack.
Your boardroom may be your biggest blind spot. Discover how elite banks fix strategy at the Breakthrough Banking Blueprint™ Bootcamp.
Great employees don’t automatically produce great bank results. Discover why Top 5% performance requires employees who understand profitability, create deeper relationships, command premium pricing, and become trusted advisors customers never want to leave.
Elite banks aren’t born elite. They build systems, practice the right behaviors, and continually sharpen how they create value. Discover what helps top 5% banks reach exceptional performance—and stay there.
What separates America’s top-performing community banks from everyone else? Discover the systems, culture, and performance disciplines that help extraordinary banks protect profitability and independence.
Most banks lose the pricing conversation long before rates are discussed. Discover how elite community banks command premium pricing while protecting profitability and independence.
Most banks never intend to compete on price, yet rate matching quietly erodes profitability every day. Discover the strategy that allows top-performing community banks to command premium pricing and protect net interest margin.
The best community banks don’t win pricing wars—they avoid them. Discover how stronger positioning leads to higher net interest margin and greater profitability.
The highest-performing community banks don’t waste months searching for their ideal customers. Discover the proven process they use to identify profitable relationships quickly and execute with confidence.
Most banks believe their market determines pricing. Discover why that belief destroys profitability—and how elite community banks command premium pricing instead.