From the November 2007 issue of Treasury & Risk magazine

A Culture of Team

Loyalty runs high at Diebold Inc. When Tim McDannold, 45, took on the mantle of treasurer in addition to his vice president duties in July, he was a 19-year Diebold veteran. His predecessor, Bob Warren, now vice president of corporate development, had been with the $3 billion provider of automated bank equipment and electronic voting terminals for almost a quarter of a century. "The reason we stick around has everything to do with the culture, team atmosphere and learning opportunities--not because we pay more than other employers," McDannold says.
And he wants to preserve that loyalty. So when he embarked on a major restructuring that would change the responsibilities of many of the 175 employees he supervises, he not only assessed their
strengths through observation, he consulted with each about their interests.

McDannold's first bold move was to split the group under two main umbrellas--strategic and administrative. The effect was to flatten the silos that separated the disciplines under his leadership, reunite employees under the two areas and make them specialists. Previously, each discipline was responsible for its own strategy and administration. "Now, people who were focusing on strategy don't have to be burdened by administrative responsibilities, and vice versa," he says.

Before McDannold took over, the financial risk manager had a support analyst willing to take on additional responsibilities and learn new areas. Now, that individual works in the consolidated administration group filling various managers' needs, improving productivity. McDannold also eliminated the domestic treasury director's job and consolidated this responsibility under a newly appointed global director. He also created the post of director of operations to oversee administrative support. "Leadership is not telling people what to do, but inspiring them to do their best," says McDannold. "If you can get people excited about something, your team can reach new levels."

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