values

cultivate

Awakened Leaders Vlog – Part 3 in an Interview with CEO of New Resource Bank

Awakened Leaders Vlog – Part 3 in an Interview with CEO of New Resource Bank 1698 1131 Catherine Bell

Vlog Series – Awakened Leaders

Our current guest on our vlog series on Awakened Leaders is Vince Siciliano, President and CEO of New Resource Bank . This is part 3 of 8 in our interview with Vince, and we’ll release the rest of the interviews with Vince over the coming weeks.

In this interview, Vince shares his thoughts on practices to cultivate great relationships in business.

Vlog

About New Resource Bank

New Resource Bank is a mission-oriented bank based in San Francisco. As a result, they use money and banking to do good.

They advance sustainability with everything they do. From the loans they make to their commitment to using deposits for good, they work to transform banking and create a better world. Read more here.

About Vince Siciliano

A longtime environmentalist and finance leader, Vince has lead several financial institutions. Because of his leadership, 1st Pacific Bank of California was named the best-performing de novo bank in California.

Vince has been a member of the board of governors of the Savings and Community Bankers of America and the National Trade Association for the savings and loan industry, as well as a board member of the California League of Savings Institutions. He serves on the advisory board of the American Sustainable Business Council and is chairman of the board for the Ken Blanchard Center for Faith Walk Leadership.

Siciliano is a graduate of Stanford University and earned a master’s degree in environmental planning from the University of California at Berkeley. He lives in Millbrae with his wife and is a proud father of two sons. Read more here.

We welcome your thoughts and feelings to this video. Please leave a reply below.

Vlog

Do You Know an Awakened Leader in an Awakening
Organization?

Do you know a great leader in an awesome organization? If you do and you think we should interview them, please email us.

We want to hear from you!

Check Out Our Monthly Newsletter

Sign up for our free monthly newsletter to receive:

  • Practical advice & tips on strategy, culture & leadership
  • Articles on building better & more successful organizations
  • News & events on building Awakened Companies
Turtle Bay

Awakening Turtle Bay – 3 Key Lessons on Transforming Culture

Awakening Turtle Bay – 3 Key Lessons on Transforming Culture 1433 870 Catherine Bell

Turtle Bay Resort is located on Oahu’s fabled North Shore and is focused on creating experiences for people that are worth being created into stories. The Resort has never ending health and wellness activities from kayaking with sea turtles to surfing to canoe surfing, shorkeling in the bay, hiking on some awesome trails, mountain biking, tennis, horses, outrigger canoe, and golf. Their entire business is focused on active lifestyle guests.

Turtle BayThis is a grass roots story of the revitalization and transformation of Turtle Bay Resort that provides three lessons for organizations undergoing a cultural reset in order to survive and thrive. The power of this transformation rests in ensuring the overall health of the entire community. Resort manager, Replay, utterly transformed a resort that was disengaged from the community and its staff, and that financially and culturally underperformed. In five short years, it created a new experience for guests, staff, and the community, became more sustainable, and embraced the culture and the history of the North Shore. The valuation of the hotel increased almost two-fold or $130 million during that time.

The cultural practices of the team at Turtle Bay and the transformation of the resort have been key players in the financial success of the resort. In The Awakened Company, I show through both research and tangible case studies why today’s business model is broken and how there is a better way to do business that leads to better leaders, better teams, better organizations, better communities, and ultimately a better planet. Companies like Replay and their incredible results at Turtle Bay are proof the new Awakened Company business model works and that the old business model needs to be ditched.

Some History on Turtle Bay Resort

Opened in 1972 as Del Webb’s Kuilima Resort Hotel and Country Club, the resort was viewed as “closed” to the local community, an exclusive club for tourists with a gated main entrance to keep locals out. During the ’80s and ‘90s, the hotel deteriorated significantly through lack of upkeep and capital investment.

In 1998 it was purchased by Oaktrees Property, who did a major renovation, adding meeting rooms and a conference centre, along with developing condos.  In 2006, Oaktrees arranged a large debt facility with a loan syndicate led by Credit Suisse.

Throughout this entire time, the exclusive and closed vibe continued. Locals weren’t welcomed, employees weren’t allowed to show their traditional tattoos, local customs weren’t permitted on the property, and Turtle Bayother restrictions were placed on employees. The local community viewed the hotel as an outsider that didn’t care about the island, its people, or local customs and tradition. Overall health of the team and community were not considered. Staff were disengaged and the corporate culture was poor. Because there was no focus on values, culture, staff, or community, poor financial results followed.

In 2010, the Great Recession was well underway, and the combination of hotel expansion just prior to the financial crisis, poor financial performance, and an unsustainable level of debt led to Oaktree’s defaulting on the debt and the lenders taking control of the resort.

The lender group appointed Replay as the Manager of the resort in 2010. Replay undertook a major rebranding and transformation of the culture and values of the resort. The result of this transformation:

  • A $45 million investment in the resort – from major renovations and transformation of a hotel where you did “things” to a resort where you have experiences, to improved sustainable practices such as the installation of a solar electricity plant on the roof of the main hotel (resulting in 1/3 of the electricity usage coming from renewable resources and significant savings).
  • An opening up of the resort – physically through the removal of the entrance gates, as well as psychologically through the welcoming of locals to the resort, the embracing of the history and culture of the North Shore, and engaging staff and the community in the development of the resort’s values and culture.
  • Obtaining approval for a 725-room expansion to the resort by working with the community, vs. the previous owners who had created an “us vs. them” mentality.
  • A $130 million increase in the valuation of the resort in 5 years.

Turtle BayHow was this transformation possible at such a moment in history? Many leaders of organizations that are currently struggling, performing poorly and unsustainably, tell me it’s too hard to change their organizations in tough financial times. When times are better, they say, they’ll look to become more sustainable, more engaging with their staff, more…

The story of Turtle Bay Resort and its complete transformation by Replay and the team at the resort says to these leaders that it’s when your company is struggling, performing poorly and unsustainably, that it’s most ripe for transformation. Turtle Bay

Three Key Lessons for Organizations Undergoing Cultural Transformation

I met recently with Danna Holck, Vice President and General Manager, and Noel Davis, Director of HR, to find out how Turtle Bay and Replay accomplished this incredible feat during tough financial times. Here are three key lessons for organizations undergoing a needed cultural transformation:

  1. Listen to your team and your community. Be concerned about their health.

Turtle Bay involved the local community and employees in their transformation. Leaders and managers wanted to hear people’s opinions on how to transform the total scene into one where people have unique onsite experiences every day. Listening creates trust, shows caring, generates support, and builds buy-in for the transformation.  Leaders listened, then acted where it made sense. The organizational structure of Turtle Bay is now relatively flat, so that anyone can make suggestions for improvement. This also allows for better and quicker decision making. Values were created by the employees as well as by the local community, including elders in the community. These are Turtle Bay’s values:

Turtle Bay

MANAWA Time, season, period of time.
ALOHA Affection, compassion, kindness, love, friendship, greeting.
KAMA’AINA Being authentically local, native born, a host, acquainted with, familiar.
HANAI Taking care of our families, treating guests and coworkers as family.
PONO Goodness, proper, moral, righteous.
MALAMA To care for.

I was fortunate enough to have the opportunity to surf with Rocky, Bobby, and Rocky’s dog Hina. What an amazing experience. I could feel the embodiment of these values in my interactions with them, and also the
respect and responsibility embedded in Rocky. Rocky was initially against Turtle Bay and is now their Experiential Manager really, head of JOYFUL experiences!

Turtle Bay

The results of these values are seen in happier and more-engaged staff, a community that works with the resort instead of against it, happier guests because the joy of the staff is infectious, resulting in better guest experiences, and better financial performance. The health of the community is considered and this has a direct impact on guests.

  1. Commit

Turtle Bay is committed to training and seeing things through. It has low turnover and is a “best workplacTurtle Baye“. Along with its sustainable energy program, with over a third of its power needs coming from its roof-top solar plant, it has lowered cooling costs with a green-living roof.

I met with Manny Crawford, the Facilities Manager to tour the roof-top solar plant and green roof. Boy, does he love his job! Why? He feels valued, listened to, and knows management is committed to doing the right thing.

It also took the Ownership’s money, trust,  and unwavering commitment with significant risk to make the changes happen.

  1. Be Consistent

Turtle Bay believes one must be consistent in one’s actions when undergoing a major cultural transformation such as theirs. One example of this consistency is the reinforcement and sustaining (a key concept in The Awakened Company) of their values. When management notices a team member living Turtle Bay’s values, they are immediatelyTurtle Bay recognized, thanked, and given a pog (small token). Team members can redeem their pogs for rewards such as lunches and swag. This consistent positive reinforcement of values shows the team that they are valued—that they make a difference, and people are grateful for their efforts.

Who wouldn’t want to work for an organization where you are valued, you matter, and that creates joy? It’s no wonder a culture like this outperformed organizations with disengaged staff who aren’t valued. Where would you prefer to work?

Considering their focus is on lifestyle and active experiences on the North Shore, they are keeping their team in mind.

The team at Turtle Bay still have some “work ons,” which they are aware of, challenging themselves to improve every day. One example of how they work on themselves concerns complaints they received regarding the quality and consistency of their restaurant food. Their problem was that they didn’t have sufficient staff to handle times of high demand. Facing up to this issue, they made a recommendation to Replay, who listened to them and immediately agreed to hire more food managers so the resort could perform better for its guests. The result is happier staff who aren’t  overwhelmed, since they now have the capacity to handle busy times. Providing better food has resulted in guests whose overall satisfaction has increased.

Turtle Bay practices what is real and acknowledges people as human beings. “Aloha ” is one of their values. What I came to see during my stay at Turtle Bay is that Aloha is really a way of life, breath to breath, involving discovering the wonder of earth and recognizing that all is sacred and powerful.
Are you listening, committed, and consistent to your organization’s transformation? If your business is based on health and wellness, are you treating your people and community in a holistic and consistent way. Replay and Turtle Bay demonstrate that there is no time like the present to transform your organization if it’s struggling, performing poorly and unsustainable. Turtle Bay is an Awakened Company.

________________

Catherine Bell is a Founder of BluEra and The Awakened Company, an award-winning executive search and team transformation company, a fastest growing company, and author of award-winning and best-selling book, The Awakened Company.  She has worked with Fortune 500 companies and entrepreneurs. She holds an MBA from Smith School of Business and a BA from the University of Western Ontario.

The Awakened Company is a movement.  You can find The Awakened Company on  FacebookTwitter, LinkedIn, and the blog  More information on Catherine Bell can be found here. Praise for The Awakened Company can be found here.

 

Fortune

The Real Reason so Many Businesses Fail

The Real Reason so Many Businesses Fail 5560 1500 Catherine Bell

The Real Reason so Many Businesses Fail – as originally appeared in Fortune

It shouldn’t always be about the bottom line.

The Entrepreneur Insider network is an online community where the most thoughtful and influential people in America’s startup scene contribute answers to timely questions about entrepreneurship and careers. Today’s answer to the question “What’s something you wish you knew before starting your business?” is written by Catherine Bell, cofounder of BluEra.

Most new companies perish within nine years of their founding, but no leader starts a business to fail. 

Fortune Magazine, The Awakened Company

The prevalence of failure in business tells us something about the way we start companies. While there are many causes for business failure and economic downturns, they tend to include a mercurial concoction of factors, such as lack of foresight, poor strategic planning, a shortage of capital, insufficient personnel, and inadequately trained individuals. To these we can add the broader factors, such as advances in technology, geopolitical forces, increased competition, and often, just plain greed.

In addition to the ups and downs of the market—with its extremes of increasing wealth for the few and the loss of even hard-earned pension funds for others—a particularly tragic aspect of the modern economy is that the majority of the workforce is disengaged. It’s a factor that increases the likelihood that companies either don’t thrive to the degree they could or fail to survive over the long term.

Underpinning all of these reasons for our economic woes are team members who in some way fail to perform in an optimal manner, both in the head office and on the shop floor. Much of the business world tends to have a dehumanizing effect on people, which ultimately undercuts worker enthusiasm, creativity, commitment, and performance. Let’s not start businesses like this anymore.

When we value people—instead of devaluing them as if they were to be merchandized—we greatly benefit as organizations, as societies, and as a world. Our bipolar boom-bust economy is the result of a workplace that lacks humanity. “Profit above people” is a bad mantra with a poor prognosis for the wellbeing of individuals, families, societies at large, and the planet that sustains us.

See also: Here’s How to Know Your Business Is Headed for Disaster

It’s clearly time to change our metrics of success. We need to bring humanity into our startups by establishing strong, one-on-one relationships in our workplaces, defining a clear reason for our companies’ existence that our people at every level can believe in, and ensuring that everything we do as an organization is responding to the deeper needs of society.

How do you put these principles into effect in your business? Drawing on my own experiences and conversations with inspiring entrepreneurs, leaders, and thinkers, here are three types of practices you can implement at the start:

Energize

Have your team help you create your vision. People support what they create. This isn’t about the executives locking themselves up in a room to write a new business plan. It’s about getting feedback from everyone in your organization about why you exist. Making gobs of money doesn’t capture most people’s hearts, so you need to find out what does. People want to hear about your mission and what problem you’re solving. If it is just you at the startup, what deeper need or problem are you solving? Communicate this. 

Sustain

I made huge mistakes with BluEra’s vision, and learnedthe hard way. In one instance, we had scheduled a planning session with a consultant from Denmark. When the consultant asked what the team vision was, no one remembered. Imagine my embarrassment.

Once the vision for our organization had been solidified, I did a poor job of reiterating and thereby sustaining this vision. Now we have our vision on our website, our blogs, cakes—I’m constantly reminding our team of it in all kinds of ways. If your vision is still right for your company, do something today that reiterates it to the team in a way that they will remember. Booking one-on-one meetings to discuss the vision is also important.

Regenerate

From answering emails in bed to checking messages during meetings, we are burning ourselves out because we rarely stop working. To implement alternative metrics of success, leaders at some of the top companies are increasingly utilizing practices such as meditation, yoga, stillness breaks for staff, and mindfulness training. These practices allow people to be more thoughtful and inquiring. We must have compassion for ourselves as leaders and take time for proper self-care, as well as providing for those who work throughout our company. 

The result of these changes will be greater engagement on the part of personnel, a deeper sense of meaning for everyone involved in and connected to our organizations, and consequently less business failures. Let’s start considering the quality of our experiences in the workplace—not just the bottom line—and thereby become quality companies in every way. It’s easier to start companies this way, and I wish someone had told me about this.

Catherine Bell is a founder of BluEra, an award-winning executive search and team transformation company, a fastest growing company in Canada, and author of the best-selling book The Awakened Company, a Best Leadership Book of 2015. You can find The Awakened Company on LinkedIn, Facebook, Twitter, and Instagram.

#FortuneInsider #AwakenedCompany