Accomplished financial services chief executive Sarah Deaves is often parachuted into turnaround and recovery situations – many of which mean having tough conversations.
Sarah left RBS in June 2012 after restructuring the Private Banking & Advice businesses of RBS & NatWest. She was the first female Chief Executive of Coutts Bank, the UK's leading private bank and Managing Director of loan, mortgage and savings companies Lombard Direct and Direct Line Financial Services.
Here she explains her strategy for dealing with tough conversations. Accomplished financial services chief executive Sarah Deaves is often parachuted into turnaround and recovery situations – many of which mean having tough conversations.
Sarah left RBS in June 2012 after restructuring the Private Banking & Advice businesses of RBS & NatWest. She was the first female Chief Executive of Coutts Bank, the UK's leading private bank and Managing Director of loan, mortgage and savings companies Lombard Direct and Direct Line Financial Services.
Here she explains her strategy for dealing with tough conversations.
HOW DO YOU PREPARE FOR HAVING TOUGH CONVERSATIONS?
It depends if you know it is going to be difficult, or if it has been suddenly thrust upon you, and who is initiating the toughness. If you are about to enter a meeting and you know your team’s figures are down, arm yourself with data and know how you will get back on track. However, if you are initiating the tough conversation, keep it evidence-based and be prepared to pre-empt any responses. If it is unplanned, take time to think about what the person is saying and get a sense of when an answer is required. Is it immediately or have you time to build your answer?
CAN YOU RECALL A TOUGH CONVERSATION THAT HAD A POSITIVE IMPACT ON YOUR CAREER?
If yes please tell us what it was and why. I was a leading a significant business unit which was due to be merged with another. That meant only one of the unit heads would be leading the merged unit, so I started a conversation about how we were going to manage the transition of responsibility. By being non-emotional, proactive, and more in control, I ended up taking on a better job because people had seen the control I had kept on the situation and how I had dealt with it.
HOW DID IT MAKE YOU FEEL AT THE TIME?
It was a little like looking over a cliff and thinking, 'Am I prepared to jump off?' Once I’d put my cards on the table I was quite relieved. It was good to bring the situation to a head even though I wasn’t sure how people would react. Approaching it unemotionally myself meant everyone else felt free to discuss the situation constructively.
HOW DID YOU MAKE A POSITIVE OUT OF IT?
How I dealt with the situation elevated my profile – by depersonalising it and being clear about the process, it created a framework for people's input.
CAN YOU RECALL A TOUGH CONVERSATION THAT WENT BADLY?
I had recently taken on a new member of staff, and I gave a performance score at their year-end assessment. I hadn’t properly anticipated how they might feel about the mark, and the how some history with a previous manager would impact their view. It wasn’t a particularly bad mark, but it wasn’t the 'outstanding' they expected.
WHY DO YOU THINK IT WENT BADLY?
I hadn’t been clear enough about my expectations or given them enough feedback, and I didn’t anticipate how badly they would interpret the mark. I had broken my own rules and it went downhill from that point. It ended up as a trust issue that we never recovered from.
WHAT ADVICE WOULD YOU GIVE SOMEONE ABOUT PREPARING FOR A TOUGH CONVERSATION?
Think ahead, anticipate that a conversation is going to be tricky and try to put yourself in the other person's shoes. Consider what else the other person has got going on and how they like to take in information – some are numbers people, some are visual. Adopting an approach that works for them removes any irritation about how the message is delivered. Practice role-playing the conversation, understand who your allies are and prepare them to help you. If you have to present a business case, lobby ahead so you know that someone on the other side of the boardroom table is “flying the flag” for you.
WHAT ADVICE WOULD YOU GIVE SOMEONE WHO HAS BEEN ON THE RECEIVING END OF A TOUGH CONVERSATION?
Think about what you can learn from it. Did you see it coming? Could you have planned your approach earlier, or could you have anticipated it and done something earlier? Also, use the conversation to learn how they have approached the situation.
