How To Get The Most From Your Team

Let’s talk about money…

When I first started exploring the world of finance, I wasn’t thinking about leadership, but the more I learned, the more I saw some fascinating parallels. 

You see, managing money and managing relationships both boil down to one powerful concept: 

Deposits and Withdrawals.

Think of your relationships—with team members, colleagues, friends, and family—as an “emotional bank account.” Each time you do something positive, whether offering support, acknowledging their hard work, or giving individualized coaching, you’re making a Deposit. 

On the flip side, when you ask for extra effort, handle a conflict, or have tough feedback to give, that’s a Withdrawal.

The idea here is simple: You’ve got to make plenty of Deposits to build up a “balance” that can carry you through the times when you are making more Withdrawals. 

The same principle works in leadership. Consistent, thoughtful Deposits build trust, and a strong, positive balance allows you to navigate tough moments confidently.

One of my Credit Union clients, who struggles in the positive Deposits category, said something profound the other day. 

They said, “Michael, I think about all the positive things my teams do, but I often forget to tell them or think about telling them. Then the next crisis pops up or the next demand pulls me away. When I do connect with my leaders, it’s often to share an issue that came up that I need them to address. It feels like most of my communication is negative or focused on what went wrong instead of what went right.”

I hear this story all too often and there is one quick rule we implemented to help address this…

Giving positive feedback at the moment (whenever humanly possible).

I shared my 10:1 Rule when it comes to feedback. For every 1 challenging conversation, you want to have 10 positive conversations to counteract it. 

We want to reinforce the positive and, most importantly, the character displayed when someone does something we know produces a good result. 

This leader decided to take this rule to heart and has built-in multiple ways to highlight their team’s work (Thank You Thursdays, Monthly Shout Outs, On the Spot Call Outs, and many more)

This leader has seen more positive interactions with his team, a 20% increase in their overall Satisfaction, and a 10% increase in their Net Member growth…. 

Intentional Deposits are always linked to a positive balance in so many ways!

How Do We Increase Deposits?

1. Celebrate Achievements
   Recognize the effort and character behind milestones, big or small. Specific praise and recognition show your team you’re truly invested in their success. A quick “great job” can be fine, but calling out precisely what impressed you makes it personal and meaningful.

2. Offer Encouragement
   Especially during tough times, your steady encouragement can make all the difference. Let your team know you’re on their side, whether it’s tackling a difficult project or just pushing through a challenging week. A little support goes a long way in keeping morale high.

3. Provide Constructive Feedback
   Feedback is crucial to growth and one of the best ways to make an “investment” in someone’s future. Be specific, be kind, and make sure your feedback is actionable. It shows that you’re not just pointing out mistakes; you’re helping them become the best version of themselves. 

3 Power Questions:

1. What’s one small way I can recognize or appreciate someone’s contribution today?
   A quick thank-you or a small compliment can go a long way.

2. How can I support my team members when they’re facing challenges?
   Sometimes, just being there to listen and asking them how they want to tackle the challenge can make all the difference. 

3. Am I giving feedback that helps my team grow and improve?
   Make sure your feedback is both constructive and actionable. Do I care enough about them to tell the truth and get to the root of the issue so they can grow?

The returns on making these "deposits" in your leadership, team, and relationships will grow over time, just like a wise investment. 

We're excited to support your leadership journey with actionable insights and fresh perspectives.

Don't hesitate to reach out if you have any questions or would like to share your thoughts.