1. Transformational Leadership at Machias Savings Bank:
Creating and Fostering a Shared Vision Lisa A. Phillips University
of Southern Maine, LOS 351, Spring 2014 Introduction Managers are
not necessarily leaders, but in todays corporate world managers,
whom are typically task driven individuals, are often expected,
with little direction or capacity, to also be leaders, whom are
people driven individuals. Both leaders and managers have their
rightful places in an organization, but without Transformational
Leaders at all levels within an organization, good, competent
people become disengaged, disheartened, and often leave the
organization feeling undervalued and hurt. At Machias Savings Bank,
transformational leadership is encouraged, and can be found at many
levels of the organization. However none are the caliber of our
bank President, Larry Barker. The following material will serve to
demonstrate how his transformational leadership efforts have
fostered an environment of positive change, passion for what we do,
and the ability to be who we are for the betterment of the
organization.Objectives Create a shared vision and drive it down
throughout the organization Foster an engaged workforce that is
goal oriented Be an agent for change, and gain cooperation with
passion and enthusiasm Forge a high level of commitment for the
success of the organization Drive results with passion, positivity,
and inspiration Live the banks commitment to its customers,
Experienced People, Exceptional ServiceMethod Develop a Mission to
Guide the Organization We will be exceptional in every
relationship, in every product developed, in every service
rendered, and in every promise made. Create a Vision for the
Organization To provide the most exceptional banking experience in
the State of Maine. The vision and mission were created by the
management team of Machias Savings Bank under the direction of Mr.
Barker. In the process, the management team took ownership of what
we created, and we continue to work each day to drive the message
down throughout the organization, as well as outside of the bank in
the communities in which we live. Create a Strategy to Achieve the
Vision Machias Savings Bank utilizes a strategy map that provides a
visual representation of our organizations overall strategy. It is
made up of four areas of focus: Customer Perspective, Delivering
Financial Results, Operational Excellence, and Employee Learning
and Growth. The strategy map is a communication tool that helps
employees to understand the banks strategies, and translates them
into actions that each one of them can take each day that will help
the organization succeed.www.PosterPresentations.comOutcomesImpact
on the Organization Employee Engagement Survey Results Best Places
to Work Survey Results Deposit and loan growth during economic down
turns Social opportunities interaction at events such as waterfront
concerts, sales rallies, meetings and contests Acquisition
opportunity in 2013 that grew our deposit and loan portfolios
Education opportunities Advancement opportunities within the
bankOutcome of our successes 212% of our commercial deposit growth
goal for 2013 175% of our loan growth goal for 2013 Profit Sharing
for each employee based on 2013 net growth Incentive bonuses for
exceptional performance Career Development for the banks highest
performers Retention of employees less than 1% employee churn
Family atmosphere Work hard, but encouraged to play hard as wellMr.
Barker and employees enjoying a Toby Keith concert on the Bangor
Waterfront, September 2013Translate the Vision Into Actionable and
Measurable Items A Balanced Scorecard was created to provide a
simple structure that represents the strategies to be implemented
that will benefit the bank the most. The Balanced Scorecard
identifies and measures key metrics that inform those that measure,
what the impact of our efforts have on the bottom
line.Acknowledgments Machias Savings Bank. Photos by Yury Nabokov,
Marketing Strategy Map by Chris Lyford, Senior Vice President,
OperationsMaking the Vision a Reality; Its all Up to Us Fostering a
strong culture, and continually communicating the vision are both
key to the growth and development of our staff. The following are
ways that we communicate the message, and develop our staff: Senior
management road shows Exceptional Times newsletter Monthly Fireside
Chats between managers and staff Boot Camp for managers MSB
leadership institute Realize the Vision Success of the vision and
mission of Machias Savings Bank is measured in Customer feedback
from frequent surveys, employee engagement surveys, customer
retention efforts, and the like.RESEARCH POSTER PRESENTATION DESIGN
2012ImpactManagement Team, Mission and Vision for Machias Savings
BankMachias Savings Banks Senior Management team rocking the crowd
at the banks annual employee rally, January 2014