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On the April 19 episode of my Lykken on Lending podcast, we invited Gellert Dornay, president and CEO of Axia Home Loans, on the show to briefly describe an initiative currently underway in his organization. Turning the typical way of doing business on its head, Gellert is attempting spread the wealth in the organization more equally across all of its employees rather than concentrating it at the top with only its executives.
No doubt, such the carrying out of such a philosophy is a risky move. When it comes to talent acquisition in leadership, it can be a tough sale to attract the best talent by telling candidates that they'll be sharing more wealth with their people. But, think about this—the most talented among us may not be the best leaders among us. Perhaps you don't just want people on your leadership team who are good at their jobs—perhaps you want people on your leadership team who are good with your people.
Great leaders are team players. Whether or not you enact any kind of formal policy that spreads wealth from the leadership team throughout the organizations, great leaders share their success with their team voluntarily. Greater leaders want to see their people succeed and are often willing to sacrifice much personal gain to see it happen.
It's quite simple, really. Just ask yourself, "Who would I rather work for—someone who simply continues to accumulate greater wealth as a result of my contribution or someone who honors my contribution by sharing that wealth with me?" Now, go out and be the leader you would want to work for.
David Lykken, a 43-year veteran of the mortgage industry, is president of Transformational Mortgage Solutions (TMS), a management consulting firm that provides transformative business strategies to owners and “C-Level” executives via consulting, executive coaching and various communications strategies. He is a frequent guest on FOX Business News and hosts his own weekly podcast called “Lykken On Lending” heard Monday’s at 1:00 p.m. ET at LykkenOnLending.com. David’s phone number is (512) 759-0999 and his e-mail is David@TMS-Advisors.com.