There are many mornings when I drive over to Nick’s place to pick him up. As he climbs into the passenger seat of my car and states “I love my life”, I know then that it’s going to be a day of laughter.
Even when Nick announces “I hate my life” we still end up finding something to giggle at because deep down we’re like a couple of schoolboys.
…and when we were both in dead-end jobs we found reason to have fun on a daily basis.
It wasn’t always thus.
The problem arose when our sense of fun clashed with the culture of the organisation in which we worked. We didn’t hurt or upset anyone we just decided one day we’d had enough, enrolled in the appropriate courses and resigned.
This, I put down to good mental health and an overwhelming positive attitude. We took that attitude into business with us.
Not everyone has this sunny disposition though. I’ve written many times previously about the number of bankers we meet on almost a daily basis who are joyless, hopeless and are spiralling into depression (Lifeline: 13 11 14). They see no end in sight for the tedium that is their lives. If this is you, you have my sympathy.
I remember when I entered the work force in 1982. I couldn’t wait to get to work each day. I had many friends at the organisations I worked for. I loved working.
Then about 13 years ago I stopped attending work functions for fear of saying the wrong thing. Christmas parties in particular were a no-go zone for me and many other people who were outspoken. It wasn’t because of any particular issue I just preferred not to be placed in uncomfortable circumstances with (some) people that I didn’t entirely trust – usually senior management. Instead we went out on a separate private function where we were comfortable in each other’s company.
After a while I found that my work started to suffer.
So, what changed?
Organisations never stay static. With each new team of management, new ideas are unleashed on the poor unsuspecting staff. Sometimes, these initiatives are fantastic. Mostly though they’re an exercise in cost cutting. This saps the life out of most employees and has a direct opposite correlation to the revenue line. Therein lies the problem.
I can’t remember the last time a senior bank executive announced a new revenue initiative.
Don’t get me wrong. Most members of senior management know all this. They know what needs to be done to get the organisation moving in the right direction. They just don’t because it’s just too hard. Either shareholders or equity analysts will be asking too many questions if they start spending money on revenue initiatives. Given their CEO and CFO perform quarterly roadshows to these stakeholders it makes it easier just to focus on costs.
These days, in our own business, you can be forgiven for thinking that we can do whatever we like and behave disgracefully. You’d be wrong.
Sure, when Nick and I are driving to and from client meetings we may have schoolboy conversations (usually observations about each other) but when we meet with clients or potential clients we have to behave professionally – and we do. We have to be a reflection of how we want our brand (business) to be perceived.
This is not something that we only started to practice when we entered into business. We both behaved professionally with our clients when we were employed by banks.
The first rule of business I learned when I started in corporate banking was this: “always do what you say you’re going to do”.
So, it’s a bit of a surprise when we come across business bankers now who promise a client they will have a credit decision within two weeks and six weeks later – no answer.
We have come across a private banker who took sixteen weeks to get a home loan refinance approved.
That’s why we have a database of capable business bankers, private bankers, corporate bankers and institutional bankers. We also have around 23 home loan business development managers at lenders whom we can pick from.
The bankers who failed us above will not be on that database as their inability to perform their roles will reflect badly on us.
When a banker speaks with me for the first time about a new transaction I pay close attention to their ability to listen and grasp detail. If I think they are not up to scratch they don’t get face time with the client. It doesn’t matter that they may have a bubbly personality or what gender, religion or race they are or aren’t. Our number one priority is what we’ve been mandated to do. Find funding for our client.
Obviously when bankers are suffering from mental health issues – and there are many of them – due to serious problems within the industry their focus will not be to do the best they can for our clients.
Banks would do well to take note of this critical factor and not only for the sole reason of servicing their clients better.
I’m no expert but mental health issues have a way manifesting in companies with a negative culture or one where there is institutional denial.
I once worked for a bank which had an annual meeting of management. The bank’s CEO’s and executive management team took turns in presenting their vision of what was happening and what was about to happen at the organisation. I (and others) was champing at the bit to ask a whole list of questions. I was thwarted by my boss who suggested it would be bad for my career.
Instead I sat there and listened to staff member after staff member put their hands up, rise when acknowledged and sing the praises of each member of the executive management team who had just presented to us. I thought I was in North Korea. I had never before encountered such a controlled culture of denial.
Stress leave was not uncommon in that organisation and there was a collective depression among staff members who were infected by this institutional depression arising from a feeling of hopelessness.
Now we hear that a Royal Commission will be thrust among these banks.
For the record I believe that a Royal Commission will be used as a political tool by both parties to whip banks during an election campaign. Sadly, the losers will probably be bank staff once again. However, contractors are probably frothing for the fat contracts that will see banks carry out essential tasks for years on end “without increasing headcount”.
Any Royal Commission should undertake an investigation of the treatment of staff members who cannot raise their voices for fear of losing their jobs. Of course, it won’t happen. They’re just collateral damage.
To end on a happy note…Nick and I will be spending time with family and friends from 13 December and 24 December respectively until mid-January. Nick will take delivery of his latest toy (a new fishing boat) and I’m sure we’ll both be spending time at 12 Mile, Long Reef or on the Continental Shelf. Nick fishing and I trying to control the nausea. We’ll still be working and completely contactable. Should we not answer your calls immediately we promise to do so by close of business.
looking into the horizon on Nick’s current boat to avoid seasickness
The ongoing transactions that we have…we’re still working hard to try and get approval or settle as soon as possible.
Home loans will be affected by banks shutting down their processing centres over the Christmas break (usually for 2 weeks).
Commercial Loans will be affected similarly as bankers take annual leave this time of year. Privately funded loans should not be affected as most private funders will remain contactable (they, like us, tend to work when there’s work and play the rest of the time) – the one proviso is that the lawyers they use to document loans may not be around…
This will be my final article for the year.
Nick and I wish you all a Merry Christmas and a Happy 2018. If this is not your bag have a happy holiday season and enjoy the summer. Look after your health (physical and mental) and be nice to one another.