Retail Banking Institute Logo
Lafferty Group
Certified International Retail Banker Certificate

Retail Banking Leadership

Boss or Leader

What is a boss?

Many professionals dream of being the boss. Indeed, anyone can be a 'boss', but the challenge is to be a 'leader'. A boss is a hierarchical position played by a professional that, for the moment, has the 'responsibility' over a defined business or task.

It implies power and superiority. It is about the individual and the decisions and actions – or lack of them – that come from the top down to supervise and provide guidance on defined functions.

Some functions can operate and deliver under the concept of a boss. This happens particularly when repetitive and clearly driven activities with predicted and established rules are the focus or scope of the job. It is important to assume that the boss (or someone advising them) has enough knowledge and experience to clear any doubts that may arise within such a pre-established process.

A boss is normally located physically close to their subordinates or is in daily close contact. Processes are typically repetitive, with certainty and routine, and yes, many professional people love to work in such an environment. Some businesses demand such behaviour, in industry transformation, public services, or agribusiness, for example. The bad news is that some of these repetitive and predictable tasks will soon be replaced by Artificial Intelligence, as such capability is the core of what Narrow AI can perform. (Narrow AI is artificial intelligence designed to perform a specific task or a limited range of tasks. It operates under predefined rules and cannot think or adapt beyond its programming.)

A boss normally has a selfish attitude. They will mostly have the experience and knowledge needed for the position, and will use an authoritarian leadership style, where they see their main function as setting the rules and giving orders for the job to be done. The 'boss' is often more concerned about the process and its results than the work environment and the professional people involved.

As their main concern is the job to be done, there is little or no attention paid to establishing a dialogue or, indeed, creating room for opinions from their subordinates. Such behaviour creates a very dry environment with limited scope for innovation or creativity. A working environment like this can develop a sense of fear, which is reinforced by a monopoly of decisions from the boss.

With such a 'boss-like' approach to leadership, motivation is not a priority, and doing a good daily job every day, no matter what, is the employee's responsibility.

Having a 'boss-like' approach in functions or jobs that face daily obstacles and a variety of unpredicted situations will not guarantee the delivery of the expected result. Such functions require teamwork, and teamwork requires a leader rather than a boss.

Being a boss is not a requirement to be a leader, and sometimes, the leader is not the boss. Leadership often emerges naturally, especially in moments of crisis or uncertainty. This is known as a situational leader – someone who steps up, takes charge, and earns the respect of others through their actions and presence rather than through an official title. True leadership is about influence, not authority.

So, a boss is not a leader, but a leader can be the boss. To be a leader is to deliver results through teamwork. A leader is a professional who uses their experience and knowledge to deliver results working with others: the team.

What is a leader?

A true leader leads through action, example, and open dialogue, working closely with the team they are responsible for. They inspire and motivate individuals to perform at their best, fostering collaboration and driving excellence in every job outcome. The leader leads from the front, always present, inspiring, understanding and knowing each team members' strengths and weaknesses. The leader tries to utilise each individual to the best of their abilities, maximising the results, and is always available to help the team members to solve issues, problems, and shortcomings. The leader is a fair judge of people, addressing positive and negative issues in a pragmatic and disciplined process.

As leadership in retail banking involves managing large teams spread across a vast geographic region, retail banking needs leaders, not bosses.

Candidate Dashboard

forgotten password?