Lavonne Zdunich, Keyera Corp
I read a quote that said, “When I talk to managers, I get the feeling that they are important; when I talk to leaders, I get the feeling that I am important.” This best encompasses my vision of a leader and I have been fortunate in my career
to have worked for a number of great leaders. These people not only made me feel important but also motivated and empowered me to put in the extra effort and do my best. And they did it without me even knowing. It wasn’t due to a direct conversation or tied to financial compensation. It was something intangible, as if they had a ‘magical power’ of some sort. Thankfully, I’ve discovered you don’t need magical powers to be a great leader and you don’t need to go to Harvard either. Instead, it is much more about earning respect, being genuine and doing the little things.
Earn respect. As IR professionals we are not only leaders to our staff but we should also be viewed as leaders by the executive team and even the Board of directors. After all, we are the communication experts in the organization and with that comes a lot of power in terms of how the company is perceived by the market. To be considered a leader by the officers and directors of a company, IROs must be respected. To earn this respect I believe the key is knowing your business, knowing the market sentiment and knowing how to keep things running smoothly day after day.
Knowing your business means understanding the financials, the operations and the external factors that impact your company. You should be as knowledgeable about the company as the President and CEO. Therefore, take the time to talk with the accountants and the people who run your operations. Also consider site visits to see firsthand what your company does. When you really understand your business, you will not only gain the respect of your executive team and Board of directors but you will also gain the respect of analysts and investors.
Knowing the market sentiment means being in tune with how your company is perceived by analysts, portfolio managers and investors. While everyone is entitled to have a personal opinion, as an IRO you must ensure that the market understands your business and your strategy. To accomplish this, make sure you and your company’s executives are accessible. Attend investor conferences, take phone calls and return emails.
Knowing how to keep things running smoothly doesn’t mean managing the share price; that isn’t our job. Communicating effectively with the market is and the best way to achieve this is with a simple, credible and consistent story. It doesn’t matter if you are in a volatile environment or need to communicate a difficult issue, let me say it again: keep the story simple, credible and consistent! As well, effective communication means being timely or even proactive if the situation allows. It is much better to get your side of the story out there before the rumours begin.
Be genuine. The term ‘leader’ is synonymous with ‘manager’ but great leaders have distinct attributes that set them apart from others. They are genuine – they sincerely care about those around them and are willing to invest time in helping others. They will take the time to listen and mentor. They have strong values that play a part in every decision and they don’t stray from these values even when it means making tough decisions. Leaders are humble – they have the courage to admit their mistakes and seek continuous growth. Great leaders also understand that they are not above anyone else, but with everyone else. When combined, these attributes create trust, motivation and loyalty that brings out the best in everyone directly or indirectly associated with a leader.
Do the little things. It’s been said that the most powerful phrase after ‘I love you’ is ‘thank you’. I couldn’t agree more! Today we live in a world that is fast-paced and often a thank you is forgotten or simply assumed. This is extremely unfortunate and a missed opportunity to show your appreciation. Throughout my career, my favourite manager was a CFO who always made me feel good about my contribution. No matter what challenge we were facing and worked to overcome, once it was over he would always thank me. It was genuine and it motivated me to always be there for him and the next challenge.
To see if you are a great leader, ask yourself if you are well respected in your position. Do you take time for others? And do you have a network of people who will always support you? If so, then you are well on your way to being a great leader – or perhaps you are even there!
Lavonne Zdunich is a Chartered Accountant with over 20 years of finance and investor relations experience in Calgary and abroad. She is currently the Director of Investor Relations and Communications at Keyera Corp. in Calgary, Alberta.