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July 13, 2020

Why and How Banking Leaders Should Focus on Developing Patience


Improve | Leadership

Patience is a key attribute to any successful leader. That’s why in today’s post, I’m going to share with you the benefits banking leaders can get from developing patience and how they can develop it effectively.

More specifically, we’ll go into depth on each of the following:

  • the benefits of developing patience;
  • understanding the situation and determining the facts;
  • creating a plan using fixed principles;
  • preparing to respond to the unexpected.

Let’s get started.

 

Patience—a Lesson From My Father

One of life’s lessons that I learned years ago from my father was to bring the attribute of patience to every job or assigned task in which I participated. He taught me to plan each step of an assigned project and to be prepared to improvise when needed. Above all, he taught me to be patient with myself and accepting of those working with me and to recognize the things that were beyond my power to change.

 

Patience Helps Banking Leaders with Their Various Responsibilities

So how does the principle of patience help a bank president, branch manager, or teller supervisor succeed in their various responsibilities? Our society expects those in charge to take action quickly and decisively. True leaders, however, recognize that patience enables them to take stock of the situation, to understand what is required, and wait while they build the capacity to take appropriate and effective action. Patience requires composure and character. Patience, like all great virtues, requires consistency, perseverance, and the ability to recognize needed change within ourselves.

Many day-to-day operational responsibilities associated with leadership in our banking industry require patience (such as strategic planning, people development, and program management). For example, strategic plans for offering new lending products or investment opportunities typically involve several points of action to ensure a profitable yet manageable solution for both a bank and their customers. It’s easy for a lender or investment officer to see the desired end and want to jump ahead without exercising the patience needed to succeed. But by addressing each component that makes up the features of the new offering, the results will be a rewarding experience for the customer and added revenue for the bank.

 

Top Tips for Developing Patience as a Banking Leader

While patience is an essential attribute for all employees, it also demands a greater level of utilization and skillful handling that is more often associated with management. As banking managers, our ability to lead patiently requires us to proactively manage the situations in which we find ourselves and individuals we direct. Below are some specific reasons and tips that’ll help you lead with patience.

 

The Benefits of Developing Patience

Why spend time and effort developing patience? Here are a few of the many benefits:

  • You are automatically more understanding and compassionate with others when you yourself are patient.
  • Patient people take the time to process what they go through and are able to determine what it takes to overcome obstacles so they are more understanding of others. This results in better, more fulfilling relationships with bosses, with work associates, and in personal relationships.
  • When you learn and practice patience, you don’t get as angry, stressed, or overwhelmed. You are more in control of your emotions and in a better position to deal with difficult situations with ease and poise.
  • When you are patient, you hold up under pressure and are able to face adversity calmly and optimistically.
  • Exercising patience results in better decision-making.

 

Understand the Situation and Determine the Facts

  • Does your bank want to be a contender or an industry leader?
  • Know what your competitor is offering and how you can “up” the game.
  • Leverage your skills and the skills of others to gain an understanding of the situation you face.

 

Create a Plan Using Fixed Principles

  • Have the patience to create your plan.
  • Lead from strength rather than from uncertainty or weakness.
  • Recognize the strengths of your bank and build on those solid elements.
  • Operate from a base of fixed principles or truths rather than continuously improvising rules.
  • Remember that things can take time. If you expect things to happen at the snap of your fingers, you’ll get impatient every time.

 

Prepare to Respond to the Unexpected

  • In a business address given by Ed Catmull, President of Disney Pixar Studios, he said this about adversity at work: “Challenges are not impediments to your job, they are your job.”
  • Things seldom go completely as planned, and the sign of a good plan and great leader is the ability to respond effectively when things go awry.

 

Conclusion

Patience is a leadership principle, and those who want to improve their leadership skills will make it a point of focus. Patience is personal and is a great teacher. Patience is a great achievement and great power, and can be manifested in the very way you greet a valued customer or encourage a promising employee.

As I continue to embrace lessons learned from my father, I do so with confidence that things will always work out as long as I am patient with the process and those around me.

 

____________________

 

About the Author: Shirley Jameson has been working as a product manager at FPS GOLD for 30 years. With her years of experience, Shirley knows what clients are looking for in a great system. With her attention to detail and high standards of work, Shirley ensures that the products and projects she manages meet our clients expectations and deadlines. shirleyj@fpsgold.com

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