How career mobility expands horizons at Wells Fargo Featured

8:01pm EDT April 30, 2011
Rob Myers Rob Myers

Rob Myers thought the grass looked at least as green on the other side, so he took a leap.

He was on a stable regional banking career path at Wells Fargo & Co. after rising through the ranks to president of the South Orange County market’s retail channel.

“At that point, I realized I needed to try something a little bit different to expand my horizons and learn a different line of business,” Myers says.

With the help of Wells Fargo’s Executive Development Program, Myers went over to business banking, becoming the division manager in Southern California after a year of training.

Some may call it a meandering career path, especially since last August when Myers came back to the retail side as the regional president of Orange County Community Banking. But Myers sees veering off the traditional path — even within the same company — as a growth opportunity. Whether you’re switching business lines, taking a new position or pursuing other development opportunities, career mobility is important for enhancing skills at any level.

“If you’ve only lived that line of business (and) if either the economy dictates a change in that business or if the company dictates a change, then you become very limited in your options,” he says. “But if you expand your horizons … you become more valuable to the company.”

Myers’ development serves as an example to the 1,750 employees he manages in the region, which had $15.7 billion in deposits as of June. He encourages them to individualize their growth goals, even if that means straying from the traditional career path.

“If we are fostering an environment where we’re communicating and celebrating those successes, [like] switching business lines, then I think people realize they have the permission to explore things that will allow them to grow,” Myers says. “They’re not going to be pigeonholed. They’re not going to be stuck. It’s great for the company; it’s great for the team member.”

Plan for development

Myers’ move began with a plan, as all courses of career development should. Working with Wells Fargo since 1994, he realized his passion for small business banking. He actively researched other areas of the company that would allow him to explore that —seeking a position that would align with his passion and enhance his skills instead of just following a predetermined hierarchy.

“You have to be really careful and calculated in when and how you move,” Myers says. “To move for the sake of moving isn’t a benefit. You really have to identify what you’re passionate about and what you have skills for and what you’re doing today that’s transferrable to the job and the line of business you’re looking to go toward.”

Any kind of career development should be part of a long-term strategy around where you want to be and what you want to achieve.

“To go somewhere that isn’t congruent with what you’re doing today or where you want to go doesn’t make a lot of sense,” he says.

To instill a growth culture and help employees view development as an ongoing strategy, Wells Fargo provides tools for plotting career paths. Managers help guide direct reports through the planning process.

“Whatever your course is, if you want to be successful in the job you’re in and stay there, we have different programs and classes and trainings,” Myers says. “If you want to progress, we have made it very clear what the options are. We know that the opportunity to learn and grow and develop is something that keeps people here and keeps them engaged and developed and makes them successful at what they do, and we make it very public what the routes are.”

For example, an aspiring business banker who comes in as a personal banker would need to progress through the ranks to become a business specialist. But because each employee has different aspirations, career paths are more about helping employees get to their destination, wherever that may be.

“Not everyone takes the same route,” Myers says. “It really is about what you’re skilled at, what you enjoy doing and where you want to go. … It really is about helping them achieve whatever they want to achieve. If it’s promotion or just getting really great at the job they’re doing, both are important, and there needs to be development plans in place for both those types of people.”

That’s why it’s important to provide options. Wells Fargo employees periodically re-evaluate their career paths with a flowchart-type diagram that maps out some possibilities, whether a teller wants to pursue branch management or wealth management — or take care of horses for the stagecoach.

By helping employees understand the skill sets necessary in various positions, you can equip them for any direction they take. To determine the skills necessary in each position, Wells Fargo analyzed previous employees, comparing and contrasting key characteristics of both the successful and the unsuccessful to qualify the definition of a natural fit.

“Something that will make you successful in one job may not make you successful in another,” Myers says. “The key is identifying what a successful team member looks like where you’re going, what they do every day, what the characteristics are.”

Align passion and skill

Myers underwent a year of hands-on training for his new position to ensure a fit. Now, as a coach, his challenge is making sure employees align with opportunities.

“The first thing as a manager is to understand what opportunities are available,” Myers says. “The ability to work with partners [to] identify the traits of the successful folks that they have is important for a manager. I want to make sure, as I work with my team member, that if I identify those same characteristics, I know that may be an opportunity.”

This requires a balance of understanding the employees you’re coaching and being aware of opportunities.

Don’t limit mentoring sessions to a couple of times a year. Coaching should be an ongoing effort of continuous conversation. In addition to one-on-one meetings, for example, Myers may observe his direct reports coaching their direct reports to see how they function. That candid observation will help you get to know your mentees better, which will make it easier to match them to open opportunities.

“It’s really hard for a coach to watch the scoreboard without watching the plays,” he says. “If we’re truly in the game watching, we’ll have a better idea of what their strengths are and what they do really well and what the areas of opportunity are. And if we understand what our partners’ groups do, then we’ll be able to say, ‘You have these great skills. I think they’ll be transferable here.’”

Matching employees with opportunities is a matter of closing gaps between their current strengths and the required skills. Sometimes, it’s just not realistic, like when employees don’t possess the skills for the management position that they desire. That’s where you need frank conversation, because pushing a square peg into a round hole won’t benefit you or the employee.

“Sometimes, they want to jump into a position that they’ve always aspired to do,” Myers says. “Well, in observing them, their skills aren’t aligned with that. It takes the courage of a manager to say, ‘Look, this isn’t consistent with what you’re (ready for). You may have a passion to do it, but my goal as a leader is to make sure you have passion and skills. When those two are aligned, only then will you be successful.’”

Good coaching means the door of opportunity doesn’t close there, though. Sometimes, it’s as easy as steering them toward another opportunity that does satisfy both passions and skills. But the perfect position isn’t always available, so a good coach helps employees prepare for the next step of growth — even if that just means suggesting a course or assigning a project to develop untapped skills.

“Show them that you may not be ready for what you’re looking for today, but let me find something within the job you’re doing today that could help you get better prepared for that,” Myers says. “How can I fit someone within the framework of what they do every day today that still has a learning opportunity for them, at the same time helps the company?”

Stay employee-centric

What if, through this extensive career planning and soul-searching, an employee decides that his or her calling is in another field? Is it counterproductive to develop employees right out of your company? At a big company like Wells Fargo with 80 lines of business and 9,000 stores, Myers can usually find something with the organization to suit anyone. But that’s not always the case.

“If you have someone that you know isn’t engaged and they’re looking to do something else, you keep the team member at the center of what you do — and if it means losing them to a different industry, then so be it,” Myers says. “I think that’s the best thing for the team member. If you don’t do that, you have a team member that’s not engaged, that’s not working for your customer, that’s not doing what they need to be successful and is not happy.”

Stay employee-centric by continually communicating and celebrating development —even for untraditional paths.

“I’ve seen far too many examples of companies that, when someone promotes outside the line of business, it’s frowned upon,” Myers says. “There’s nothing that gives me greater satisfaction than seeing one of my team members grow to a different job — and if it’s outside of the group that I’m in, that’s fantastic. If we’re doing the right things from a succession-planning perspective, we’ll have someone that can jump into that role.”

Being focused on employees isn’t just about creating a warm, fuzzy feeling internally. It really translates into overall business success.

“This is about our team members growing and learning and succeeding,” Myers says. “If we keep the team member at the center of what we do, we’re going to have successful, well-rounded team members in all of our groups. We’re going to have advocates for the company. We’re going to have lower attrition rates.

“If we have really well-engaged, focused team members who are developing, it’s going to result in satisfied and engaged customers and then our stock price goes up, our shareholders are happy, everything works. But it starts with that engaged and developed team member and if you don’t have that, then whatever success you have is going to be short-lived.”

How to reach: Wells Fargo & Co., (800) 858-4062 or www.wellsfargo.com

Making the Move: Tips for scaling the corporate ladder

Whether you’re switching lines of business or exploring a promotion across the country, executive moves are challenging. Rob Myers, who successfully navigated from retail to business banking and back again at Wells Fargo & Co., shares a couple tips.

Do your research. Myers sought key business banking players at community events and meetings to inquire about the job he was jumping in to.

“I approached them not with, ‘I want your job,’ but, ‘I really want to learn more about what you do and how you do it and what you’re looking for in people,’” he says. “I would find out what they liked, what they didn’t like, what their challenges were, what their opportunities were. I identified who the managers were. I found out about career opportunities — not just the job I wanted but: Are people moving? Are they developing? What’s their retention rate?”

On broader scope, also look at the potential job’s viability in the overall marketplace. Myers evaluated economic drivers in Orange County like employers and jobs. He affirmed that many employees work at small businesses, and that Wells Fargo was investing capital in business banking to better serve the owners.

“I’d like to look five years from now and say, ‘OK, is my line of business going to be operating and growing, or is it a line we could and would contract?’” he says. “You have to do a great deal of research into how the business line fits into the community, where you think the economy’s moving, are there any regulations coming down the pike that could impact the business?”

Learn to learn again. The challenge of moving around once you’re in an executive position is that you go from senior council to being a freshman again.

“I knew my business really well and so my learning curve (shifted),” Myers says. “In jumping into a different business, you really have to learn how to learn again — and you’re learning from people that you may be managing, but they know far more than you do. You have to be humble and modest and appreciate what they can contribute and how they can help you and the fact that you’re dependent on them.”

Wells Fargo’s Executive Development Program exposed Myers to most business banking positions so he learned firsthand what was important to employees and how each function drove success.

“I don’t think everybody knows everything about an organization or a job,” he says. “It would be really arrogant of me to think that I do. In any job, I want to make sure I’m serving the team members that are working for me. I realize that they have a lot to offer me. Everybody has the power to learn different things and they can make an impact on our organization.”

The Myers File

Education: B.A. in social psychology from the University of California at Irvine; MBA from Pepperdine University

What was the first job you ever had, and what did you learn from it?

My first job in the world was delivering pizza when I was in high school. I realized then that whatever I did, I wanted to do really well. I wanted to be the best pizza delivery guy we had, and that was my goal — not to beat everybody, but I wanted to go home at night and say, ‘I did the job well,’ because every job out there is important and we need to approach it with that passion of being successful.

If you could have any superpower, what would you choose and why?

I would love to time travel. I’d love to see what the future holds. I’d love to see things that have happened in the past, meet people in the past. I’d love to go back and see Henry Wells and William Fargo and find out what their mindset was in starting the business and tell them what their business has become 150-plus years later. I’d love to meet some of our past leaders, people that are really influential in history. I would love to meet some sports stars; I’d love to witness some previous sporting events.

What was the last book you read?

I started reading a David Baldacci book. I like the mystery, spy and murder books. He’s probably my favorite. Every six months, he comes out with another book; then I know what my vacation reading is.