Leadership for the Digital World : Coaching intervention for a leading Public Sector Bank

#AlignmentandInternalization, #Banking, #BFSI, #Customer, #DigitalMindset, #FinancialServices, #GoalSetting, #India, #Leadership Coaching #Digital, #TrustBasedLeadership

Context:

The BFSI sector was revamping its digital landscape across the globe to enable more personalised and secured banking and financial services for customers. 200+ leaders of one of the largest Public Sector Banks in India were to be coached on their IDPs to build competencies of Customer Focus and Digital Mindset, along with focusing on their personalized development needs.

Having gone through a recent merger and organization restructuring exercise, the coaching intervention was conducted at the time of the great flux. Clarity around roles and responsibilities was still emerging, and the leaders were wondering what would be the cultural ethos and ways of working of the integrated organization. Sounds familiar?

Collaboration with LagomWorks:

LagomWorks and its team of ICF certified coaches brainstormed around the essentials of this journey. There were four key pillars which became the foundation: confidentiality and due consent, co-creation, momentum and impact.

The 4 months journey required an extremely strong governance process to be put in place. Detailed documentation and data security measures were strictly adhered to. Feedback and feedforward process ensured that the coaches were able to work effectively with the leaders. Timely completion of the process required continuous monitoring because of the nation building role being played by the banking leaders.

This observation from one of our coaches aptly reflects the journey of these leaders: “Certain learning programs have been undertaken. The big project on cyber security has started, rigorous study of many foreign & national banks has been done. Best practices of various banks earmarked for adoption. Mr X is very driven to make (*) a digitally secure bank”

Team

Impact

The actions taken by the leaders to develop a digital mindset included:

Enhancing digital mindset

Leaders led by example by enhancing their own digital mindset through completing e-learning modules and participating in digital certification programs. They also motivated their teams to adopt a digital mindset by creating platforms for security awareness and fostering a culture of continuous learning.

Customer focus and Digital product initiatives

Leaders prioritized customer-centric initiatives and spearheaded digital product initiatives within their organizations. They emphasized the importance of understanding customer needs and leveraging digital solutions to enhance customer experiences.

Adapting to change

Leaders actively embraced change and facilitated their teams’ adaptation to digital transformations. They demonstrated resilience in the face of change and encouraged their teams to cope better by fostering a culture of flexibility and openness to new technologies and processes.

Trust and Empowerment

Leaders cultivated trust within their teams by releasing control and empowering team members to take ownership of digital projects. They fostered an environment of trust and autonomy, allowing for innovation and creativity in digital endeavors.

Setting and Achieving Goals

Leaders set clear, measurable goals related to digital adoption and product development. They monitored progress closely and provided necessary support to ensure that goals were achieved effectively and efficiently.