Being Nice is Good for Business

I was struck by a recent article from The Wall Street Journal on leadership. It said that many business leaders – who embraced a more nuanced, empathetic leadership style during the pandemic – are transitioning back to a firmer, more structured, rigid leadership approach.

This is a troubling trend. Leadership is all about people; business is all about people. I believe that anything you do in business becomes easier if you approach it with positivity and empathy. In my experience, leaders (regardless of the industry) are best positioned for success when they are resilient enough to remain positive regardless of the market environment and put their employees’ wellbeing at the core of their actions.

Developing a Positive Mindset

I consider myself a “glass half full” kind of person. This mindset goes back to an experience I had when I was in college in Madrid and came down with tuberculosis. For several months I was back in my hometown, on bed rest, and had to put my studies on pause. This was one of the most challenging times in my life, but I embraced the power of positive thinking to make it through those dark moments and have carried this lesson forward with me every day as CEO.

Thinking about asset management and financial services, staying positive is critical. It’s an industry where success may be out of your team’s control, despite how hard they’re working and the quality of their work product. Firms may end up below target because of outside factors. It’s tough to see people working hard without subsequent success.

When this happens, it’s important to have perspective on what you can and can’t control. Can we control the markets? No. Can we control geopolitical conflict and rising inflation? No. What we can control is what we do every single day with our people and clients. Consistency is key.

Zillow CEO Rich Barton says it well in the article: “Great leadership is as steady as possible. It’s not very efficient to hit the accelerator and slam on the brakes all the time.” In other words, consistency has a compounding effect.

The Compounding Effect

The link between consistency, positivity and passion is something I learned from my father at an early age. My father founded the Club Polideportivo La Roda, a multisports club for young people in my hometown in Spain, 50 years ago with the goal of providing a healthy and safe environment for kids. And, to be successful in sports, you must maintain consistency, positivity and passion. Over the years the club has produced top athletes across several different disciplines. With over 1,000 kids participating in the activities provided by the Club across 11 different sports, my father underscores the compounding effect of these values every day.

As in sports, people need reassurance and it’s the job of corporate leaders to instill them with confidence. When things are going well it’s easy to be a leader; it’s when things aren’t going well that I lean on these core values and draw on my internal energy and passion to support the team. I believe in our business, staying the course, and taking care of our people. No matter what.

I’ll admit that sometimes it’s tough to be nice and have high standards. Though I firmly believe that if you have talented, fun, hungry, (and, most importantly, genuinely) nice people, typically the job will get done (and get done well). Positivity will breed results if paired with the right people and the right approach to how you treat those people. If we continue to find ways to foster kindness – especially in the workplace – we’ll be okay.

Being nice is always the right answer. And it works.

Vamos!