Build a team
The first step in Carbone’s team-building path is to identify goals. Before you can find people who can help you reach your goals, you need to identify what those goals are.
At TD Bank, the goal is to build a continuously growing company with a reputation for excellent customer service. All decisions that cascade down from the head management team are based on those foundational principles. From there, you have to identify what characteristics you want in team members.
“First off, establish what are the goals and objectives of the company,” Carbone says. “Second, you want your core group of people to have a positive, can-do attitude and be willing to figure things out without negativity creeping in. You want feedback and you want constant communication. You don’t want procrastination. You want visions done, and you want to execute on them, and you want people who can make those decisions and execute on that plan. If you can do those things, you will have a successful business and a successful team.”
To begin building the team, you need to build a pipeline of management candidates. Carbone keeps an eye on candidates both inside and outside the TD Bank organization. You can’t have control over the development of people outside your organization, so all you can really do is stay connected to the industry grapevine and keep yourself in the loop with regard to the best management candidates.
Internal candidates provide a much better opportunity for growth and molding in the ways of your company. At TD Bank, Carbone and his core management team assess the management potential of internal candidates and help construct career path programs for the most viable ones.
“Our company is very good at developing career paths for people,” Carbone says. “We go through a review process and career planning for people. We look at what your aspirations are, where do you want to be, and we will train them based on the assessment of their skills and try to get them to a place where they want to be.”
Internal candidates will exhibit initiative and a desire to move up and will demonstrate the skill set to perform and produce at an executive level. Carbone says that skill set can vary among organizations, but it is a constant characteristic of future managers.
“Saying you want something is one thing, but are they willing to sacrifice and pay the price and do the things they need to do to move up?” he says.
Even if you feel comfortable with your leadership team, you can’t allow yourself to become too comfortable. Market competition and an uncertain economy can combine to create upheaval, and today’s firmly entrenched young executive can become tomorrow’s open position.
“You always need to have a pipeline,” Carbone says. “You’re always looking at the worst-case scenario. If somebody were to leave, who steps into that role? If you don’t develop a plan to groom new leaders, chances are you’re not going to make the best decisions.
“If I get struck by a bus, I don’t want to leave this company in a lurch. There has to be somebody who can step in. I’m fortunate, because I have several people who I think could step into my role. But that’s also the challenge I pose to my leadership team: If you got hit by a bus, who would step in for you? That is part of the development of leaders, that they can identify the people who could step in for them.”
