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Kirk Mann, Executive Vice President and Head of Transportation, Vendor Solutions at Mitsubishi HC Capital America.
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Most of us know that leaders, and leadership skills, have changed dramatically over the years. Just within my own career in financial services, I have seen a dramatic shift away from old-line “command and control” methods to more collegial and collaborative styles.
Many people see finance as black and white. What I’ve found in my field of equipment financing is that it’s far more effective to operate in the gray. Mix hard and soft skills. Try to embrace change. Be open to the possibility of learning from others. These are some of the things I’ve learned about the most important attributes of modern leadership.
1. Be enthusiastically humorous.
Herb Kelleher, the former CEO of Southwest Airlines, was known as “enthusiastically humorous.” His humor was infectious, and he worked to create the culture his company became known for. Whether it’s a joke to start a meeting or presentation or simply being able to laugh throughout the day, humor breaks down barriers. It establishes trust, lets people know they can be transparent and helps others see that their leaders are real people, too.
2. Put love into practice.
At its core, patience is love put into practice. “Love” is not a common corporate word, but it is a fundamental value that drives organizations forward. When a leader knows that an employee is doing all they can and is moving in the right direction, it’s patience and compassion that guide the leader to give the employee the benefit of the doubt. And that might be exactly what it takes for the employee to break through and deliver exponential results.
The principle applies to partner, supplier and customer businesses, too. During the pandemic, our division proactively restructured 40% of the loans we had made. Our culture of giving people the benefit of the doubt led to that decision, which ultimately benefitted a wide swath of businesses across the country. After just 90 days, more than 90% of those businesses started repaying. The action more than paid off: Our customer retention rate remains high, and it has engendered better working relationships.
3. Tolerate healthy tension.
Great leaders allow for healthy, collaborative tension. Permitting meetings where people are raising their voices or blatantly disregarding others’ ideas does not move the business forward. On the other hand, communicating with respect and intelligence while airing differing perspectives produces healthy discourse and beneficial actions. Frequent “touch-base” group sessions and one-on-one meetings support, and can help create, an atmosphere of healthy tension.
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4. Be willing to set boundaries.
As a leader, your time is finite. When business challenges begin to snowball, the first thing you sacrifice is often time. Sleep, quality time with family and friends or simply time for restful repose and reflection move to the back burner. My eyes first opened to this reality more than 20 years ago. My industry’s forecast was looking bleak—and then 9/11 happened. Business was tough. The president of my group would spend all day, every day, talking with people in each business unit and then spend evenings pouring over financials. He displayed equal concern for the business and the people working there, but at what cost? It is through setting boundaries and allowing oneself time to process and recharge that leaders show up as the best version of themselves—for their businesses and their teams.
5. Be able to relinquish control.
In ancient times, people carried precious fragrances and oils in fragile jars of clay. They would break the jars on special occasions to release the fragrance or oil in celebration of people. Similarly, great leaders break the illusion of any control that may be perceived in celebration of the tremendous imagination (and learning) of their colleagues. Practical expressions of relinquishing control come when leaders get out of the way and let others express their ideas or make decisions on their own. Most great leaders would agree that there is no greater reward than seeing their employees lead and succeed. The key is to prepare employees well.
6. Encourage small group interaction.
Many, if not most, great visionaries cherish solitude as a time to think and create. Great leaders, though, cherish time with others equally. Recently, a colleague suggested a “Koffee with Kirk” program as a structured way to bring together small groups of employees from a variety of functions, departments and locations. While it is an excellent way to listen and gather understanding, we learned that it was just as much—or more—valuable for the different teams to interact with each other. We found that our sales and operations teams wanted a forum, outside of traditional work channels, where they could connect and understand each other better. With the involvement of our human resources training division, we launched an informal program to address the request. The result is increased productivity and customer service by creating a more collaborative experience.
7. Live out the company’s vision.
Yes, great leaders must be able to create and live out their company’s vision. But perhaps even more so, they help their employees see the long term. Taking the time and effort today to communicate that vision will reap rewards for years. Not everyone will buy into the picture you create. But you will be left with all of those who do.
8. Develop an attitude of gratitude.
Overused phrase? Not in my business. I give people credit for the work they do, and I say, “Thank you.” Developing the habit of looking for real, legitimate ways to give credit—rather than find faults—creates a culture that works. Great leaders know that selfishness leads to a toxic workplace that crumbles on itself.
Today’s leaders require a broader understanding of the entire business in which they are working. Leaders need to take a multi-disciplinary, cross-functional approach and be able to work with people of all types, with varying levels of skills across multiple departments. Every developing leader will find out what works for them on this journey. It’s my hope that my list may help the next great leader get started on theirs.
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