Reflection of my time at PNB

I’ve had time the past few months to reflect and write my thoughts about my time at PNB. Here are my some things I gathered during my time there. I had initially written this on my Twitter account (@jalilword) but publishing it here for those that are not on social media.

1. The myth that change is impossible is not true. You must articulate the what, why & how. Communicate how that change will affect personnel individually. Buy in for change is very important. Granted, it will be a journey. Consistency of messaging from the very top is absolutely crucial.
2. Having clear strategy is imperative. Knowing what you will and will not do / is critical. It’s how you keep focused and dont go off tangent, which is easy when you are large, and huge part of the system. I was very focused on this, we knew what we had to do, and how to do it. We were clear about investment philosophy and what we are comfortable doing ourselves, working with partners or not doing it at all.
3. When in position to make lives better by way of wage increase, do it. The long term productivity impact outweighs the short term financial impact. It went a long way in recognising people who keep the firm going daily, the forgotten ones. Till today I still receive messages from the rank & file, who check in on me. It's moments like this that make your work truly appreciated.
4. Flattening organisation unleashed many hidden talents who excelled when given room to think. They will never be ready 100%, just give them a go. Cross rotation of people very important. I'm a beneficiary of having put my hand up for many roles in my career, without knowing 100% of what to expect. You learn along the way.
5. Command & control, top down leadership style is outdated and does not work. Empowerment with accountability, within a prescribed risk management framework is the way to go. Most cherished this, and never abused it. We achieved a lot of initiatives quicker because of decentralisation and encouraging everybody to take ownership. We'll make mistakes, key is to share this with the team and learn from it.
6. Staff engagement across all levels is crucial. Never underestimate the suggestion a non executive can make. I learnt a lot from my sessions with them. Their input went towards changing the remuneration structure of firm. These sessions prompted me to make big changes to the organisational structure and driving emphasis that we needed a cultural reboot that was more in tune with the times.
7. Internal communication is key. People must understand purpose of the company, why they come in daily, how is their work impacting the end client. Constant update of activities done and what to look forward to is a powerful tool to rally the firm together. I sent out CEO emails twice a month, and during lockdown I did short videos to show everybody the human side of what we are all going through.
8. There is no one way of doing things. What works somewhere else may be disastrous here. Find the right balance and don't by shy to copy what has worked well elsewhere. Often too much emphasis and time is wasted trying to find the perfect model, it does not exist. Be open to improvising along the way.
9. Short but regular meetings were the new norm. Limiting number of participants to only those that were speaking. I liked charts over words, with every deck having an objective & how that is to be measured. I liked presentation decks that were easy to understand, and not cluttered.
10. Dont overthink. If it’s right just do it. No way to get 100% buy in from everybody, but should explain rationale of decisions so people understand and appreciate the thought behind it. As CEO, I asked for feedbacks, but I made the strategic calls. In a firm that had to go through some structural changes, some unpopular decisions would have to be made.
11. Embracing technology was made easier with Covid-19 where it was forced upon onto people. Everybody picked up new skills and surprised themselves with something they never thought they could do. Digitalisation will be the way forward. key is to ensure they keep the momentum always.
12. Being paranoid was a necessity especially when you had multiple stakeholders. Many things could go wrong and you should be prepared. The circle of trust becomes very small but not bad thing. In this role especially, many wanted to be friends, and had to be careful about ones pursuing vested interest.
13. Assume that whatever you say is not a secret. News will find its way. Walls have eyes & ears as they say. I confided in only one person. Quite fun to see how news loops back to you. I compartmentalised my life very well, this job made it even better. It's a powerful skill to develop and useful when used correctly.
14. Lastly, treating employees like adults. Let them wear what they want, decide how they want to work (and where). Give them deliverables and the tools required. Very powerful when people managers understand this and learn how to manage remote teams. One of the first things I did was improve remuneration across the board and increase minimum wage.