Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here.
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Dear Bev,
We are considering two methods for training our younger team members: using internal senior staff mentors or hiring an external coach. We are divided down the middle in terms of preference. Which do you think is best?
Jay S.
Dear Jay,
It’s great that you are looking for ways to train, mentor and coach your staff. There are benefits to both approaches you mention but, in my experience, a combination works best. The most successful efforts I’ve seen have included internal mentors working with external support. There are a few reasons for this:
Objectivity is important. An outsider can sometimes see things that internal people may not. In addition, those looking to learn will sometimes perceive a qualified outsider as more knowledgeable and credible.
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Internal staff can be more hands-on and work with the younger team on a day-to-day basis. They are able to offer consistency and continuity.
Both sides can hold the learners accountable. If the internal mentors and external trainers can establish a strong communication, it’s easier and more effective for accountability. It’s a two-pronged approach.
Sometimes the internal mentors can learn from the outside coaches and then reinforce the learning. These senior staff members may also benefit from new ideas and an outsider’s perspective on their job.
The younger staff may see their training as an investment and commitment of both time (internal mentors) and money (external coaches). This may make them more enthusiastic and engaged during the process, too.
Dear Bev,
I often present ideas to my boss. He is extremely focused on quantitative measures like numbers and costs. I, on the other hand, am more fueled by intuition. I know what we need to do but need his support to do it. How do I get my points across to him effectively?
Kevin M.
Dear Kevin,
This is a classic “know your audience” scenario. I hear you saying that you have a “feeling” about things, but using “feel” language with your boss will likely make him tune you out. He will focus more on that word than on the ideas or concepts you are trying to convey.
Developing a quantitative presentation might not feel necessary or important to you but you might to keep hitting a brick wall without it. Gathering facts and data may yield information you had not been thinking about previously and may bolster your argument.
Rather than getting him to see things through your lens and rather than becoming frustrated by his lack of support and understanding, step into his shoes. Without data, he may not be able to fully grasp what you are asking him for and why.
When we know something is right or should be done, we often want others to respond affirmatively and with the same conviction and excitement. He may be a “prove it to me” person though. If you don’t take the time to gather that proof and help him to see clearly what you are proposing you are going to leave these discussions with nothing to show for them. See if you can talk his language next time, and you might get a different response!
Beverly Flaxington co-founded The Collaborative, a consulting firm devoted to business building for the financial services industry in 1995. In 2008 she co-founded Advisors Trusted Advisor to offer dedicated practice management resources to advisors, planners and wealth managers. She is currently an adjunct professor at Suffolk University teaching undergraduate students Leadership & Social Responsibility. Beverly is a Certified Professional Behavioral Analyst (CPBA) and Certified Professional Values Analyst (CPVA).
She has spent over 25 years in the investment industry and has been featured in Selling Power Magazine and quoted in hundreds of media outlets, including the Wall Street Journal, MSNBC.com, Investment News and Solutions Magazine for the FPA. She speaks frequently at investment industry conferences and is a speaker for the CFA Institute.
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