05/16/2018

Chasing Your Best Self: It’s All About Your Mindset

Barry Adcock May 16th, 2018

Most companies have a set of core values that define their culture. At Deluxe, we have what I think is an awesome set of values. We call it THRIVE. Here’s what it stands for:

T: Teamwork. Unified by our strengths, our flaws, and our differences, we work as one team.

H: Honesty & respect. We help one another to be the best versions of ourselves because people are our edge.

R: Recognition & celebration. Work is more meaningful and motivating when we applaud each other.

I: Inventiveness. With creativity, courage, and grit, we discover better ways.

V: Valuing customers. Our success begins and ends with our clients’ satisfaction. We win with our clients.

E: Execution. We relish the opportunity to practice our craft. We get the job done.This is a great set of values, but when you think about it, they’re really just variations on the Golden Rule. Common-sense stuff about how to act and how to treat others. But THRIVE doesn’t mean a thing if we don’t take those values off the walls in the office and bring them to life. It sounds easy, right? Just live your values! But really, it’s difficult to pull off.

What’s it going to take for us to live our values, to show up every day the way we know we should? How do we solve the challenge of bringing our core values to life? I know of one way.

It’s all about your mindset

There’s a book called Mindset: How We Can Learn to Fulfill Our Potential by Carol Dweck.

I think she’s really on to something. I think our mindset is the key that unlocks bringing our values to life. The author came up with this notion that we operate with two different mindsets: a growth mindset and a fixed mindset.

A growth mindset could also be called a continuous improvement mindset. With that kind of mindset, you’re thinking: I’ve got my strengths. I can build on those. I’ve got my weaknesses. I think I can overcome some of those. I think I can get better! I can grow. Develop. I’m dynamic!

A person with a fixed mindset is thinking: I’ve got my strengths and that’s great because I’ve got these weaknesses and I can’t change those. They’re going to limit me. I’ll step away from those. I’ll double down on my strengths because I’m static.

Here’s another way to look at it:

Growth mindset:

  • Optimist
  • Excited by opportunity
  • Ever-expanding comfort zone
  • Visualizes the thrill of victory
  • Celebrates others as growing and developing

 Fixed mindset:

  • Pessimist
  • Fear of challenge
  • Small and static comfort zone
  • Visualizes the agony of defeat
  • Pigeonholes others as static and limited

What side of the coin do we want to be on most of the time? It’s pretty easy to figure out. Sure, we’re all in a fixed mindset every now and then, but wouldn’t you rather be in a growth mindset? I would. But don’t forget, this applies to your bank or credit union too though.

I think community financial institutions should be striving to become the best versions of themselves as organizations for the benefit of the communities they serve.  For that to happen, you (or someone at your institution) will need to change the status quo. Your management team must have a performance-driven mindset. No more settling for what worked yesterday. You, as leaders of your institution, set the mindset and the people will follow.

At Deluxe, we call this a performance management culture and it’s the foundation for why most of our customers love Banker’s Dashboard. When you have the right mindset combined with information to make the right decisions, the impact can be rather profound. Your staff will become more engaged as they chase best versions of themselves and help you build the best version of your institution. The core values of a performance management culture are:

  • Performance begins with culture
  • Performance is earned; it is not an accident
  • High performance requires an informed workforce because everyone drives performance
  • The market rewards the agile institution
  • Data serves people (not vice versa)

Shifting employee mindset from reactive to proactive and creating a performance-driven culture throughout your institution will lead to new opportunities for growth. If you’d like to learn more about shifting this mindset at your institution, reach out to me on LinkedIn, I’d love to share how other institutions have done this!

Be the best YOU

We invited BBoy Moy Rivas, an inspirational break dancer, to be a part of Deluxe Exchange 2018. He shared a story about an interaction he had with a group of kids and what I remember the most from his story was his big message to them: “Remember you’re only trying to become a better you … not a better someone else.”

We should all take his advice. We shouldn’t take this growth mindset concept and think: Oh, that’s a work thing. We’re the same person at work, at home, at play. We are the same person everywhere. Our work community, that’s an awesome forum to chase your best self.

Here’s a call to action for 2018: Adopt a growth mindset as much as you possibly can. Chase the best version of yourself like you never have before. I’ll be doing the same. That’s how we bring our values to life.

Here’s to the chase!