A Respectful Source of Working Capital

Respect is not just a courtesy; it’s a fundamental part of professionalism. As outlined in our values statement: “We offer dignity, courtesy, and consideration to all we interact with.”

In this latest installment of our Corporate Values series, we turn our focus to respect. It’s not just a courtesy; it’s a fundamental part of professionalism. As outlined in our values statement: “We offer dignity, courtesy, and consideration to all we interact with.”

A former boss of mine, once told me that respect must be earned. I didn’t agree with that view, and quite quickly left that role —partly due to issues around respect. I came across a short but insightful article about respect that really resonated with me. It says, “We can show respect to someone we’ve just met, even though they haven’t earned anything yet. This is Owed Respect. It’s the baseline. It’s what you get for being a fellow human being, no matter what.”

One area where we make a conscious effort to show respect is toward our competitors. We work alongside them on panels and governance boards. There are times when we refer clients to them if a deal doesn’t fit for us. More importantly, we don’t tarnish their reputations, even when some of their clients leave to work with us, often in search of better service.

This happens more often than you might think—and so does poor service. In fact, we recently had a client transition where we witnessed firsthand how slow one of our competitors was in responding to emails, how they didn’t answer their phones, and, perhaps most frustratingly, how they altered the account-closing payment amount after the security was released and final documents signed. Needless to say, this was a painful discovery for the client.

In moments like this, we choose to “bite our tongues” and resist the urge to criticize. After all, mudslinging rarely gets the mud only where it’s aimed. Professionalism, at its core, encourages us to take the high road. And respect is one of the key values found on that road.

– Dan Effa

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