Vol. 2 #1
Imagine a meeting at one of the world’s largest banks, where the team is present to discuss a new core banking transformation project. Everybody nods through it; inside, however, everybody gets the feeling that something is off. Not because somebody was concealing his ideas, but because nobody wanted to disagree with the leader. This scene looks all too familiar in the initial stages of core banking transformations. In theory, the kickoff meeting should be a forum for the free exchange of ideas, but it all too often really is an echo chamber in which people with unpopular opinions are quietly shut out.
Anecdote: In a kick-off meeting on the core banking overhaul in a regional bank, one senior developer shared an example where, by the end of that meeting, he did indeed have personal reservations over the proposed timeline. However, he was afraid to express his objections in public, fearing it would be viewed as insubordination. Six months down the line, his concerns played out, resulting in delays and additional costs. This had a very strong message—for the open dialogue from the very start of the process.
Antidote: Creating a Culture of Open
Dialogue
Any leader of core banking transformation needs to encourage everyone’s sense of safety in speaking up. They can begin by soliciting diverse points of view, asking open-ended questions like, “What are we not seeing here?” or “Can anyone identify potential risks we might have overlooked?” These questions signal that all input is valued, not just the ideas that align with leadership.
Equally strong can be channels for anonymous feedback. Here, leaders enable team members to voice their concerns without being personally highlighted, and hence reach valuable insights that could otherwise have remained hidden.
Another key component of this is training. The reason is that when teams are equipped with skills in effective communication and how to resolve conflicts, people are able to express their opinions respectfully and handle pushback constructively.
A kickoff meeting sets the tone for successful core banking projects, which is one of ongoing and open dialogue. If everyone feels heard up front, it becomes much more manageable to navigate through those tough decisions that have to be made in a core banking transformation.
Found this article interesting? Check out these three related reads for more.
- Corporate candor: The impact of overconfidence in project teams A new series
- Corporate candor: Risks of optimistic timelines in project execution (A new series)
- Corporate candor: Overcoming silence in meetings to address underlying disagreements (A new series)
#MeetingDynamics #CoreBankingTransformation
