August 25, 2024Articles Change can be something you initiate, or it can be forced upon you. While you can’t always control the type or timing of change, you can control how you respond to it.Rania Llewellyn, former CEO of Laurentian Bank and the first woman to head a major Canadian chartered bank, has navigated considerable change over her 30 years in banking. Originally from the Middle East, she has moved across various countries and companies, adapting to change along the way. She is also the recipient of the 2024 Ascend Executive of the Year Award, recognized as a transformational change leader and champion of equity, diversity, and inclusion in her leadership of high-performing teams.Llewellyn’s path to success hasn’t always been easy and it has been punctuated with both planned and unforeseen change. She recently shared her views on growth mindset and five actions you can take to develop it.What is a growth mindset? A mindset is a set of beliefs that shape how you see the world and your place within it. It influences how you think, feel, and behave in any given situation. There are two types of mindsets – a fixed mindset and a growth mindset.“A fixed mindset is one where your deeply rooted beliefs – your talents, your skills, and your intelligence – are innate,” explains Llewellyn, who adds that those with a fixed mindset believe it doesn’t matter how much effort or work you put into your capabilities – they simply cannot be changed.A growth mindset, on the other hand, is the belief that your capabilities can be improved over time. “It is the belief that your talents, your skills, and your intelligence can continue to grow if you practice, if you put in the effort, and if you experiment,” says Llewellyn. Join as a member What are the benefits of a growth mindset?“When you encounter change, the mindset is the most important thing to being able to adapt,” says Llewellyn.To that end, a growth mindset can help you deal with change in that it allows you to thrive even in the face of challenges. When faced with change, a person operating with a growth mindset will focus on the possibilities and the learning that is available and has an openness to trying new things. On the other hand, a person with a fixed mindset will tend to wrestle with change and can become focused on why change is unnecessary or why they won’t be successful once the change occurs.“To grow professionally or personally, you have to have a growth mindset. Otherwise, you’re going to plateau,” says Llewellyn. How has a growth mindset contributed to Rania Llewellyn’s career success? “My career has not been a straight line,” says Llewellyn. “Everybody assumes that anyone that gets to the top has had an easy ride, no obstacles, no challenges.” But that wasn’t the case for Llewellyn – in fact, far from it.Llewellyn explains how early in her career, she worked with individuals who came from different backgrounds, and she struggled to communicate with them in the way they wanted her to communicate. She even received a 90-day notice to find another job. “There were two ways I could have reacted,” she says. “I could have thought, ‘this is the end.’ But I pivoted and left Halifax and moved to Toronto.” She accepted a maternity leave position not knowing what was going to happen. Within six weeks, she kept networking and landed one of the best jobs she ever had – one that changed the trajectory of her career.While she loved the role she had in corporate banking, she had a development plan for herself and wanted to move into an executive project office. While it was a challenging experience, it was the best thing that ever happened to her. “That’s when I created multicultural banking for Scotiabank. I’m a firm believer that if you don’t take risks, there’s no return.” Join us at our events After about four years, she again wanted to do something different and pursued an opportunity to become the president and CEO of a subsidiary called Roynet Capital. “That was probably one of the highlights of my entire career. But it was a chance – I remember I had colleagues who questioned why I was going into the business. And I just said, ‘why not?’” In Llewellyn’s eyes, a career is a resume of over 40 to 50 years, so why not try new things? “I always look for jobs where I can do 50% of the job and the other 50% is my growth opportunity. Having that growth mindset definitely allowed me to move up, move out, and expand my skill set.”Llewellyn continued to try new things throughout her career, becoming global head of payments for Scotiabank, where she ran operations – something she had never done before. Her vast range of experience ultimately prepared her to become CEO of Laurentian Bank. “Had I not taken those risks and little diversions in my career path, I would not have been able to accomplish what I have been able to accomplish.” How can you develop a growth mindset? In the true spirit of a growth mindset, developing and nurturing such a mindset is possible at any point in one’s life or career. Llewellyn provides several ways to build and foster a growth mindset:Understand where you’re starting from. The first step is to be self-aware. What is your natural mindset? Llewellyn suggests taking note of how you interact in a debate or a conversation. Are you open to other people’s ideas, or do you dig in your heels and not listen? “It’s important to get feedback and know your starting point,” she says.Get out of your comfort zone. “If you are too comfortable, it means you have stopped growing and learning,” says Llewellyn.Surround yourself with the right people. Llewellyn recognizes that for many people, particularly if you’re junior in your career, it’s difficult to pull yourself out of your comfort zone – and you need some help doing so. “Sometimes it takes a leader to see the potential of an individual before they can see it in themselves. Sometimes you need somebody to believe in you before you actually believe in yourself. It’s important to have a manager, partner, or a friend encouraging you to try new things.” For pan-Asians, her advice is to “surround yourself with others who may help you get unstuck or who have gone through the same experiences. Seek others who are success stories and people who inspire you.”Shut out the negative. “We all have that inner voice in our head,” Llewellyn says. “So, make sure you’re aware of those noises and shut them out. And then remind yourself of all the things that you’ve been able to accomplish.” She encourages people to go into things with the mindset of ‘what’s the worst that can happen?’ This is where surrounding yourself with positive energy can help. “Because a lot of times when we’re listening to that negative soundtrack in our heads, it’s our friends and family who know what we’re capable of.”Finally, look at life as a journey. “It’s kind of like a roller coaster. You can either accept the change, or you can be part of the change and influence the change. I think it’s much more exciting if you’re an active participant in that journey, rather than a passive bystander or passenger. My message is to get out of your comfort zone, take risks, be curious. Take control of the journey you’re on.” Read more FacebookTweetPinLinkedIn
