1. Transformational Leadership at Machias Savings Bank: Creating and Fostering a Shared Vision Lisa A. Phillips University of Southern Maine, LOS 351, Spring 2014 Introduction Managers are not necessarily leaders, but in todays corporate world managers, whom are typically task driven individuals, are often expected, with little direction or capacity, to also be leaders, whom are people driven individuals. Both leaders and managers have their rightful places in an organization, but without Transformational Leaders at all levels within an organization, good, competent people become disengaged, disheartened, and often leave the organization feeling undervalued and hurt. At Machias Savings Bank, transformational leadership is encouraged, and can be found at many levels of the organization. However none are the caliber of our bank President, Larry Barker. The following material will serve to demonstrate how his transformational leadership efforts have fostered an environment of positive change, passion for what we do, and the ability to be who we are for the betterment of the organization.Objectives Create a shared vision and drive it down throughout the organization Foster an engaged workforce that is goal oriented Be an agent for change, and gain cooperation with passion and enthusiasm Forge a high level of commitment for the success of the organization Drive results with passion, positivity, and inspiration Live the banks commitment to its customers, Experienced People, Exceptional ServiceMethod Develop a Mission to Guide the Organization We will be exceptional in every relationship, in every product developed, in every service rendered, and in every promise made. Create a Vision for the Organization To provide the most exceptional banking experience in the State of Maine. The vision and mission were created by the management team of Machias Savings Bank under the direction of Mr. Barker. In the process, the management team took ownership of what we created, and we continue to work each day to drive the message down throughout the organization, as well as outside of the bank in the communities in which we live. Create a Strategy to Achieve the Vision Machias Savings Bank utilizes a strategy map that provides a visual representation of our organizations overall strategy. It is made up of four areas of focus: Customer Perspective, Delivering Financial Results, Operational Excellence, and Employee Learning and Growth. The strategy map is a communication tool that helps employees to understand the banks strategies, and translates them into actions that each one of them can take each day that will help the organization succeed.www.PosterPresentations.comOutcomesImpact on the Organization Employee Engagement Survey Results Best Places to Work Survey Results Deposit and loan growth during economic down turns Social opportunities interaction at events such as waterfront concerts, sales rallies, meetings and contests Acquisition opportunity in 2013 that grew our deposit and loan portfolios Education opportunities Advancement opportunities within the bankOutcome of our successes 212% of our commercial deposit growth goal for 2013 175% of our loan growth goal for 2013 Profit Sharing for each employee based on 2013 net growth Incentive bonuses for exceptional performance Career Development for the banks highest performers Retention of employees less than 1% employee churn Family atmosphere Work hard, but encouraged to play hard as wellMr. Barker and employees enjoying a Toby Keith concert on the Bangor Waterfront, September 2013Translate the Vision Into Actionable and Measurable Items A Balanced Scorecard was created to provide a simple structure that represents the strategies to be implemented that will benefit the bank the most. The Balanced Scorecard identifies and measures key metrics that inform those that measure, what the impact of our efforts have on the bottom line.Acknowledgments Machias Savings Bank. Photos by Yury Nabokov, Marketing Strategy Map by Chris Lyford, Senior Vice President, OperationsMaking the Vision a Reality; Its all Up to Us Fostering a strong culture, and continually communicating the vision are both key to the growth and development of our staff. The following are ways that we communicate the message, and develop our staff: Senior management road shows Exceptional Times newsletter Monthly Fireside Chats between managers and staff Boot Camp for managers MSB leadership institute Realize the Vision Success of the vision and mission of Machias Savings Bank is measured in Customer feedback from frequent surveys, employee engagement surveys, customer retention efforts, and the like.RESEARCH POSTER PRESENTATION DESIGN 2012ImpactManagement Team, Mission and Vision for Machias Savings BankMachias Savings Banks Senior Management team rocking the crowd at the banks annual employee rally, January 2014