Going “All In” to Navigate Uncertainty

Over the course of my twenty-five year career in the financial services industry, I’ve learned that the path to progress often entails navigating uncertainty. Countless variables contribute to day-to-day uncertainty for management, employees and outside stakeholders—from business changes to personnel transitions to economic instability. When facing such challenges, leaders must proactively and transparently steer their organizations toward progress.

I joined Fannie Mae in 2009 when the company was in crisis, as was the entire U.S. housing finance system. When I assumed the role of CEO in 2012, I focused on forging an “all in” mentality that would unite staff through a common purpose. By connecting the value of our individual and collective contributions to the organization’s overarching mission, we could create a North Star to guide us in a positive direction.

As I continue to lead Fannie Mae through a period of transformation, maintaining an “all in” mentality remains one of my top priorities. Here are three cornerstone elements for adopting this approach:

1. Define Your Organization’s Purpose

During times of business uncertainty, leaders must clarify and reinforce an organization’s purpose to employees. Everyone should realize the long-term mission and understand how they contribute to it. As an example, I always remind my colleagues that we are working to ensure that people have access to affordable housing as well as options that enable them to stay in their homes. Defining organizational purpose may seem obvious, but consistent reinforcement can support crisper execution and improved morale at all employee levels. Everyone should know that they are contributing to the organization’s success.

2. Measure and Highlight Success

When an organization is navigating uncertainty, it is the most important time to measure and highlight the results generated by employees. Help them visualize how their individual contributions are making an impact. This not only supports morale, but also provides a subtle reminder that everyone is accountable for results.

At Fannie Mae, I want my colleagues to see how their collaborative mindset is tangibly supporting our mission. We regularly provide internal updates on the goals we’ve established together. We also share external Progress reports and resources so outside stakeholders can track our progress.

3. Communicate Transparently

I’ve found that transparent communication is the lifeblood of a successful organization, particularly while coping with uncertainty or operating in a transformative period. Leaders need to communicate frequently and openly with employees about strategy, expectations, goals and any challenges that they are anticipating. The key is to earn the unified support that a leader undoubtedly needs during uncertain times. If leaders want commitment and loyalty, they need to establish a relationship with employees through an open dialogue. This can be facilitated through town halls, blog posts, video updates and everyday interactions.

Our “all in” mentality at Fannie Mae is forging a pivotal and significant change across the organization. The positive steps we’ve taken in recent years are simultaneously positioning us to support America’s housing recovery and help create a more sustainable housing finance system for tomorrow. My colleagues and I are proud of the strides we’ve made as a team.

I look forward to sharing more business perspectives and updates on our progress in future posts.