Six Ways to Live One’s Purpose & Be More Client-Centric in the New Year

I don’t believe it’s too late to say happy 2023. If you’re like me, over the holidays you probably made some New Year’s resolutions. Some life goals are big, others small. Some are personal, others public facing. In my mind, the most powerful ones—and the ones most likely to stick—are the resolutions you make to yourself and others.??????????????????????????????????????????????????????????????

When I was appointed to my new role last year, I resolved to do all I could to deliver upon State Street’s strategic vision for the benefit of our clients, shareholders, partners, employees, and our communities. That took the form of endeavoring to be the best—and to deliver the best for our clients—each and every day.

Getting up each morning with the promise to be the best starts with having a great sense of purpose. Fortunately, we have a wonderful one at State Street. It’s a purpose that we lead with in all that we do: “To help create better outcomes for the world’s investors and the people they serve.”

What that purpose means in practice is remembering every step of the way whom we serve and what our work is all about. We are helping to secure the retirement of millions of people—public servants, teachers, nurses, union workers—your friends and family. We also are safeguarding endowments so they can pursue research and development that betters the lives of our families, friends, and neighbors. And managing the funds that transform countries and ultimately impact millions of lives around the world. This is important and honorable work, and with it comes a tremendous amount of responsibility.

An important way to fulfill that purpose is to focus on client-centricity. As we start the new year, here are six ideas I like to keep front and center as we strive to deliver on our purpose and work together to be the best industry partner:

1. START WITH CLIENT NEED: It’s not about you—or it’s less about you than what you are able to bring to the table to best serve your clients. Think deeply about their most pressing concern and start from there. (In communications, this is known as the “WIFM”, or “what’s in it for me?” message.)
2. KNOW YOUR CLIENTS WELL: Unlocking client need starts with understanding your clients deeply. That means putting the time in, being a student of their business and strategic goals, and practicing active listening. If you can master these skills, you’ll be able to not only respond to client need but anticipate it.
3. EMPATHY & URGENCY: Your clients challenges are your challenges; their goals are your goals; their needs are your marching orders. Remember the “red phone” emergency hotline in movie thrillers? Every time your client calls, think of it as picking up the red phone.
4. EMBRACE HIGH-TOUCH RELATIONSHIPS: I’ll be personally meeting with clients around the world in 2023. I’m eager to do this after largely curtailed travel during the past three years due to COVID restrictions and safety precautions. But I’m looking forward to travel most because—even in the most innovative and technology-led companies—nothing beats meeting your partners face-to-face, shaking hands, looking someone in the eye, and breaking bread.
5. KEEP IT SIMPLE: Remember that great chemistry teacher you had in high school who helped you figure out thermodynamics? Their gift was simplifying the complex—they didn’t aim to make the complex even more complex. That’s part of the job of any great partner: to be clear, to remove complexity from systems, and generate efficiencies in doing so. It’s no secret that financial services is a complex and ever-evolving industry. Last year, we made changes in our organization to simplify our business by removing organizational complexity to benefit our clients.
6. ALWAYS DO BETTER: Remember, no matter how impeccable you and your team might be, no matter how tirelessly and rigorously you execute. . . excellence knows no finish line.???

Once again, happy New Year. I wish you and yours the greatest happiness and success in 2023. And may you try your best to be the best each and every day.