Women s Networking Group

Transcription

1 Women s Networking Group

2 Lessons on Leadership Wednesday, May 9, 2018 Event password: TMCWomen2018 Conference line: (240) Meeting number: *Today s call will be recorded and made available for future playback.

3 Collaborating Together Our Goal: Be a resource for women supporting one another tapping into the Power of the Network A platform within TMC to discuss challenges and share insights with other women Opportunities to connect through regular calls and in-person events

4 David G. Kittle, CMB Vice Chairman & President The Mortgage Collaborative Jennifer Peachman Vice President, Member Engagement The Mortgage Collaborative

5 Regina Lowrie, CMB President & CEO RML Advisors TMC Board of Directors & Former Chairman of the MBA Julie Piepho, CMB President, National Operations Cornerstone Home Lending Debra Still, CMB President & CEO Pulte Mortgage TMC Board of Directors & Former Chairman of the MBA

6 Thanks for collaborating with us in San Diego. We re expanding our session for Chicago!

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8 Today s Agenda: Characteristics of Leaders Finding and Establishing Your Leadership Style Lessons Learned Over the Years 8 Top Women in Mortgage Finance Offer Encouragement & Advice to Up and Comers Takeaways from TMC Women s Networking Group Members Finding Your Tribe & Making Yourself Vulnerable Selecting the Right Mentor/Sponsor Q&A

9 She uses her power for good. All great leaders are humane and helpful. Their life work makes a difference to other individuals. They seek opportunities to make the world around them better, making a difference to other individuals. Whether they do so by mentoring another woman in their team and helping them achieve their own goals, or fighting for human rights, they are selfless and share their talent with others. Their purpose in being humble and helpful is always marked by giving others, including themselves, a sense of hope and inspiration.

10 She seeks and receives support. No one can do it alone. There is strength in being vulnerable, in being human. Leaders who are conscious and interested in continuous personal and professional growth, and who courageously ask for and openly receive support are stronger.

11 She never gives up. Despite failures and losses, strong female leaders focus on staying positive. A leader who knows what she wants is always determined and does not let temporary difficulties hinder her from achieving her goals or fulfilling her mission and purpose. She believes in herself. Through trials and difficulties, she develops the greatest gifts she has to offer for making an impact on the lives of others.

12 She is confident. Confidence is a belief in your ability to succeed; a belief that you do something well. People love confident leaders because they give us a feeling of trust, and everyone wants to follow a leader who they can trust. You either have confidence, or you will have to develop confidence within yourself to become truly successful.

13 She is optimistic. Most people cannot follow a pessimistic leader. Why would we? Strong, successful female leaders articulate a vision and boldly move towards that vision with positive energy. Optimism is the ability to go forward with hope and confidence. Successful outcomes begin with optimism.

14 She is authentic. Successful female leaders do not copy others. Rather, they create extraordinary results through authenticity, a personal style and a forged consistency to showcasing their unique talents. These leaders tend to learn from others around them, yet manage to remain true to themselves, their values, and how they want to be seen in the world, and by other people.

15 She has a strong & powerful voice. Female leaders have a willingness to speak their truth and be heard, even if the message may not neatly align with the status quo or be of popular opinion. They are careful with their words, but know that their own voice is, ultimately, their most powerful tool to create change.

16 Finding & Establishing Your Leadership Style 1. Transformational leadership 2. Transactional leadership 3. Servant leadership 4. Autocratic leadership 5. Laissez-faire leadership 6. Democratic leadership 7. Bureaucratic leadership 8. Charismatic leadership 9. Situational leadership

17 Leadership Styles & Characteristics Women s Networking Group Transformational leadership Transactional leadership Servant leadership Autocratic leadership Laissez-faire leadership Democratic leadership Bureaucratic leadership Charismatic leadership Situational leadership Often considered among the most desirable employees, people who show transformational leadership typically inspire staff through effective communication and by creating an environment of intellectual stimulation. However, these individuals are often blue-sky thinkers and may require more detail-oriented managers to successfully implement their strategic visions. Transactional leadership is focused on group organization, establishing a clear chain of command and implementing a carrot-and-stick approach to management activities. It is considered transactional because leaders offer an exchange; they reward good performances, while punishing bad practice. While this can be an effective way of completing short-term tasks, employees are unlikely to reach their full creative potential in such conditions. People who practice servant leadership prefer power-sharing models of authority, prioritizing the needs of their team and encouraging collective decision-making. This style, described as altruistic leadership by the company, can improve diversity and boost morale. However, detractors suggest servant leaders lack authority and suffer a conflict of interest by putting their employees ahead of business objectives. A more extreme version of transactional leadership, autocratic leaders have significant control over staff and rarely consider worker suggestions or share power. Ruling with an iron fist is rarely appreciated by staff, which can lead to high turnover and absenteeism. There can also be a lack of creativity due to strategic direction coming from a single individual. This leadership style is best suited to environments where jobs are fairly routine or require limited skills. It is also common in military organizations. More commonly used to describe economic environments, laissez-faire literally means let them do in French. This is typically translated to let it be. As such, laissez-faire leaders are characterized by their hands-off approach, allowing employees to get on with tasks as they see fit. This can be effective in creative jobs or workplaces where employees are very experienced. However, it is important that leaders monitor performance and effectively communicate expectations to prevent work standards slipping. Also known as participative leadership, this style as the name suggests means leaders often ask for input from team members before making a final decision. Workers usually report higher levels of job satisfaction in these environments and the company can benefit from better creativity. On the downside, the democratic process is normally slower and may not function well in workplaces where quick decision-making is crucial. Bureaucratic leadership models are most often implemented in highly regulated or administrative environments, where adherence to the rules and a defined hierarchy are important. These leaders ensure people follow the rules and carry out tasks by the book. Naturally, this works well in certain roles such as health and safety but can stifle innovation and creativity in more agile, fast-paced companies. There is a certain amount of overlap between charismatic and transformational leadership. Both styles rely heavily on the positive charm and personality of the leader in question. However, charismatic leadership is usually considered less favorable, largely because the success of projects and initiatives is closely linked to the presence of the leader. While transformational leaders build confidence in a team that remains when they move on, the removal of a charismatic leader typically leaves a power vacuum. Developed by management experts Paul Hersey and Ken Blanchard in 1969, situational leadership is a theory that the best leaders utilize a range of different styles depending on the environment. Factors such as worker seniority, the business process being performed and the complexity of relevant tasks all play an important role in what leadership style to adopt for any given situation. For example, situational leaders may adopt a democratic leadership style when discussing commercial direction with senior executives, but switch to a bureaucratic strategy when relaying new factory protocols to workers. However, many people have a natural leadership style, which can make switching between roles challenging. It can also be difficult to gauge what style is most suitable for certain circumstances, holding up decision-making processes.

18 Leadership Lessons Learned Along the Way The importance of setting goals Getting out of your comfort zone Understanding how to delegate Say yes to every opportunity learning & growing within the industry It s OK to fail The glass ceiling The significance of collaboration

19 Eight Top Women in Mortgage Finance Offer Encouragement & Advice to Up and Comers Takeaways from TMC Members: Regina Lowrie, CMB Debra Still, CMB Maria Vergara, CMB

20 Choosing the Right People: Finding Your Tribe Making Yourself Vulnerable Identifying and Selecting the Right Mentor/Sponsor Pursuing your CMB

21 Submit Your Questions: Use the Q&A window to submit your questions directly to our discussion leaders. You can also enter your questions into the WebEx chat window to the host and we ll verbalize on your behalf.

22 Upcoming Conferences & Events: mpower Lunch MBA Secondary May 22 NYC NEXT Conference June Dallas TMC s 2018 Summer Conference August Chicago mpower Event MBA Annual Convention October 13 Washington DC

23 Submit Your Questions: Use the Q&A window to submit your questions directly to our discussion leaders. You can also enter your questions into the WebEx chat window to the host and we ll verbalize on your behalf.

24 Your Dedicated TMC Resources: Jennifer Peachman Vice President, Member Engagement Ashleigh Alexander Member Benefits Advocate

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