To motivate is to succeed: "We help make our customer's dreams come true," says Wachovia's Tom Savage

RMA Journal, The, Feb, 2002 by Carol McGinn

Tom Savage is a firm believer in the power of motivation. He describes his role as Wachovia Corporation SVP and manager of the Commercial Finance Division more in terms of process management than transactional. He focuses on tracking trends in the portfolio and aligning the division's direction with the commercial lending strategy of the corporation. And motivation, he says, is key to his staff's success.

"I try to offer support and encouragement to my team, while staying out of their way and allowing them to do their jobs," says Savage, who is responsible for two operational sites that monitor asset-based credits. Several years ago, Savage started delivering motivational speeches, and he applies the principles from his speeches to his job.

"I encourage and challenge my staff to develop their own goals in life and to pursue them with a passion," he says. "I'm talking about personal goals here, not the corporation's goals for an individual's job. Personal goals can be congruent with those of the corporation, but they should still belong to that individual."

Compassion and sensitivity are important in Savage's role, as are leadership skills. The 27-year banking veteran is mindful that the primary reason people work is because they need or want the paycheck. "Wachovia helps employees balance their personal and professional goals," he says.

"A large part of my job is just listening--to the line, to managers and employees in this division, to our customers, to economic news, and to news in specific industries."

Within an environment of continuous change, "the one constant is the customer," says Savage. "Regardless of industry or economic changes, we are in the customer service business. We help make our customers' dreams come true--their own personal financial goals. The financial services industry is not about selling products and services--it's about helping our customers realize the goals that they arc passionate about."

The drive to volunteer.

Savage's career and personal goals include a dose of volunteerism. "Volunteering, with RMA or any other organizations, makes me feel good about myself," he says. "As a RMA volunteer, I like to feel that I am giving back to an industry that is noble, honorable, and requires integrity I have found these traits in most all of the people I've met through RMA."

Savage joined RMA in the mid-1970s and became involved at the local level with the Hampton Roads chapter in the mid-1980s. He was asked to join the Carolinas-Virginias Chapter board, then moved to Jacksonville, Florida, and joined the state-level board there. He also served a two-year term on the National Chapter and Members Relations Council. Savage teaches at the RMA Commercial Lending School in Florida and at the RMA Advanced Commercial Lending School in North Carolina. He also has been asked to act as advisor to the RMA First Coast Chapter board.

"RMA helps its members develop top-level skills," Savage says. "Creating a vision, keeping a team energized, maintaining focus, building consensus, listening to your constituency, planning carefully, having compassion for your volunteer team, being perceptive of and adapting to market changes, making decisions, and executing on the plan--these skills are highly valuable to any employer."

McGinn is a Ft. Washington, Pennsylvania-based freelance writer specializing in financial and business topics.