MADISON, Wis.—It’s a myth that leaders are born, not made, observes one person who adds the reality is actually more nuanced than that.
“Because it’s both,” said John Pembroke, president of CUES, in response to questions around the debate over leadership. Pembroke believes leaders within the credit union community and overall are both born and made, although he suspects the born leaders may be in the minority and that more are made through hard work and effective training.
Pembroke’s remarks are being offered as part of an ongoing CUToday series on “fake news” in credit unions, i.e., the myths and misperceptions within the CU community that may negatively be affecting decision-making.
Pembroke cites a University of Chicago study on what it takes for an executive to make it to and then thrive in the C-suite. Among the attributes are being proactive and efficient, cultivating large professional networks, and the ability to make commitments.
“These are things you learn over time,” said Pembroke, whose organization is dedicated to leadership development.
Charisma, on the other hand, may be something someone is born with, he acknowledges.
What Makes for a Successful Leader
According to the Center for Creative Leaders, a successful leader comes from a mix of 70% skills learned on the job, 20% coaching and feedback, and 10% structured training, he said.
“You need to focus on developing those types of skills,” Pembroke told CUToday.info, adding it’s critical to ensure potential leaders coming up in the organization get consistent, constructive feedback and coaching.
John Pembroke
How does the credit union business compare to others in developing potential leaders? “Credit unions do a solid job of it today,” Pembroke assessed..
But there is also a war for talent going on, he added.
“Talent is scarce,” said Pembroke, especially with the growth in the financial services field and attrition through retirement and staff turnover. “The demand for good talent is outstripping supply.”
As a result, credit unions have to do more leader development to build and retain young talent, according Pembroke.
“We want everyone to be brilliant,” he said. “Make sure the bar is set high throughout your organization.”
About CUES' Programs
CUES is set up to develop and educate top credit union executives, board members and future leaders, Pembroke stated. It runs more than 40 educational events a year, partnering with “the best business schools in the world” at universities such as Stanford, the University of Chicago, and the University of Pennsylvania’s Wharton School of Business.
At Stanford, CUES offers a Strategic Innovation Institute and it also has institutes for chief executives at various universities, as well as merger training at the University of Chicago’s Booth School of Business. It offers online learning as well.
More than 90% of the graduates from CUES CEO Institute later earn promotions, Pembroke said. To get there requires completing a three-year program that features a week at the Wharton School, a week at the Johnson School of Business at Cornell University, and a final week at the University of Virginia.
“We believe in actionable earning,” he says, “and we help them think through how to make it actionable. Investment in talent works.”
—Mark Fogarty