To win as a leader, hire those people who will not let their colleagues fail
Growing up on a farm from a young age, Payments Canada President and CEO Gerry Gaetz learned the value of hard work and of “adapting to whatever nature throws your way.” He also credits a couple of strong early mentors, both of whom were former governors of the Bank of Canada, with significantly shaping his approach to business and leadership. “From Mark Carney, I learned how to instantly cut to the chase and ask the question that mattered most. David Dodge, on the other hand, had a very broad perspective on things, so he would consult with people from a lot of different backgrounds when making decisions.”
Gaetz acknowledges that earlier in his career, he “focused more on the problems than the people. Now, I believe that leadership is about finding the balance between the subject matter and what I call the more intimate side of leadership. The more senior you are, the more it’s about relationships because you have lots of people who know the content. Your biggest value-add as CEO is ensuring the relationships in your organization are secure and flourishing.”
In order to create a high-performing culture, he says, people need to care about each another. While finding exceptional subject matter experts is relatively easy, finding those that have the ability to connect with and bring out the best in those around them is at the heart of competitive advantage. “You want to bring in people who care enough about each other to make sure that they will not let their colleagues fail.”
“Optimism is one of the top traits I hire for on my senior team because anything worth doing is hard. You know you’re going to hit rough spots, so you have to be optimistic that you can find a path forward.”
Another critical component to building a peak-performance culture, he believes, is a noble cause. “At Payments Canada, we are doing something that’s greater than ourselves, because we’re doing something for Canada that is in service of the competitiveness of our country,” he says. Payments Canada is delegated by the Canadian government to help meet the payment needs of consumers and business, and facilitate a new era of modern payments.
Gaetz also champions the importance of group decision-making. “All of the key decisions we make here are made collectively. We also have a very flat organizational structure and the design of our office spaces is intended to be very non-hierarchical.”
But what about critics who say that consulting widely slows things down? “Yes,” he says, “it is way easier to come to a decision if everybody thinks the same way or if you’re the only one making it. The problem is it’s usually not right in the end. It may take a bit longer, but the quality at the back end is so much higher. What’s more, others can help you see things you may not have thought about. That can be even more valuable.”
One of the reasons organizations struggle with achieving a positive culture, Gaetz says, is that they do not define who they are in the first place. “We actually spent time as a leadership team explicitly defining the kind of culture we wanted. Because if you can’t describe it, how do you know when you get there? How do you know where to make the necessary changes to move the needle?”
One of the most powerful lessons Gaetz has learned about leadership is the importance of intentionality. “Because time is so limited, you have to be really intentional about your actions and interactions. Otherwise, they can fall to the wayside and you do not invest in what’s most important.”
Gaetz also knows leaders need to get comfortable asking for help. “You need to get over your ego, because there are going to be lots of situations where you have no idea what you should do. If you are afraid to ask for help, you can do a lot of damage.”
The power of relationships applies here: “If you have built a culture of connection, there will be lots of people in your network who will offer to help you, by putting you in contact with a solid resource or by volunteering their time and insights to support you.”
These lessons in leadership also apply to our personal lives, he says. “These strategies are not just specific to the domain of business or leadership. Building strong and rewarding relationships is the true definition of success.”
• Craig Dowden, PhD, is president of Craig Dowden & Associates, a firm focused on supporting clients in achieving leadership and organizational excellence by leveraging the science of peak performance. Dowden delivers evidence-based executive coaching and leadership development training to his clients. Connect with him by email or LinkedIn, or follow him on Twitter @craigdowden.