Leader Talks with Rainer Schnabl, President of the Board of Raiffeisen bank dd BiH

Leader Roots 2024/2025 traditionally started with a session on Raiffeisen Bank and you chose the importance of employee psychological safety as the main topic. What specific steps does Raiffeisen Bank take to foster a supportive and motivating environment in which employees feel valued and empowered? Do your employees generally share the same values as the bank and how do you ensure alignment in this regard?

One of our strategic goals at Raiffeisen Bank in Bosnia and Herzegovina is to create a supportive and motivating environment where employees feel valued and empowered. Psychological safety in that context is crucial for nurturing a thriving workplace where everyone feels respected and encouraged to contribute at their best. By prioritizing psychological safety, we can boost innovation, performance, and overall employee well-being, leading to sustainable success.

As a bank, we are committed to continuously monitoring and improving the working environment and corporate culture. We strive to create a place where employees feel free to express their opinions, share ideas, and embrace challenges and risks. This is, we believe, essential for unlocking our full potential and creativity. Therefore, we are dedicated to developing a corporate culture that emphasizes and nurtures these elements. This involves a range of activities, such as workshops and training for both leaders and employees.

Our leaders here play a pivotal role in this process. They are expected to lead by example, provide constructive feedback, celebrate mistakes as learning opportunities, and recognize and reward contributions.

The banking industry is constantly evolving. Where does Raiffeisen Bank draw inspiration to remain innovative and adapt to the ever-changing needs of its customers and the market?

Our main inspiration for innovation comes from a combination of emerging technologies and having customers' needs in our focus. In a rapidly shifting world, it is essential that we stay agile and proactive in adopting new technologies and approaches that enhance our services and exceed the expectations of our clients.

We are investing heavily in technologies like AI and IT infrastructure to exceed the level we operate at and deliver secure and seamless banking experiences. Creating innovative solutions that not only address current demands, but also anticipate future trends, remains in our focus in order to be one of the leading banks on the market. 

In this regard, we go beyond technology. As I mentioned, we invest very much in a culture that encourages creativity and continuous development among our employees. By empowering our teams and embracing new challenges, we position Raiffeisen Bank very high in providing exceptional value and service to our customers.

Our efforts have not gone unnoticed, as we received two prestigious awards in 2024: Best Digital Bank in Bosnia and Herzegovina by Global Finance and Best Bank for Digital Solutions in Bosnia and Herzegovina by Euromoney. Receiving awards is always nice, but for us, it serves as encouragement to raise the bar even higher.

How would you describe your leadership style, and what qualities do you believe are essential for an authentic and effective leader in today's world?

It is not the easiest task to describe yourself, but I hope my colleagues see me as the first among equals, where we combine the best leadership qualities with new, adaptive skills, to meet the demands of today's dynamic and complex world. 

What we see as our North Star on our path forward is answering the question: What can we do to make better future happen for our customers, our colleagues, our neighbours in the community? 

Besides that, I think that an authentic and effective leader in today's world generally needs to demonstrate integrity and transparency, building trust both within the organization and with external stakeholders. They should be adaptable and forward-thinking, able to navigate the rapid changes and leverage emerging technologies to drive innovation. Effective leaders must also be empathetic and people-focused, understanding the needs and aspirations of their employees and clients. They should foster a culture of collaboration and continuous learning, empowering their teams to contribute ideas and take ownership of their work.

Lastly, resilience and decisiveness are crucial, enabling leaders to make tough decisions and guide their organizations through challenges with confidence and clarity. These qualities combined create a leader who can inspire, drive growth, and ensure long-term success for the bank.

As young people in Bosnia and Herzegovina transition from the educational system to the professional world, are they adequately prepared for the challenges that lie ahead? Do they possess the necessary skills and knowledge to embark on a successful leadership journey?

Young people transitioning from the educational system to the professional world often bring a strong foundation of knowledge and enthusiasm. However, the rapidly evolving nature of business world requires continuous learning and adaptability. While many educational institutions provide solid theoretical backgrounds, there can be gaps in practical, real-world skills and experiences.

To address this, it's essential to invest in comprehensive onboarding programs, mentorship, and ongoing professional development. Young professionals at the beginning of their careers must be equipped with not only technical skills, but also critical soft skills such as communication or problem-solving. By fostering an environment of continuous learning and education, providing opportunities for hands-on experience, young people can be better prepared for the challenges ahead and set on a path to successful leadership.

Throughout your time leading Raiffeisen Bank, what are some of the most valuable lessons you've learned from your employees? How have these interactions shaped your perspective on leadership and organizational culture?

As a CEO of Raiffeisen Bank in Bosnia and Herzegovina, I believe there are invaluable lessons to be learned from our employees. First and foremost, they offer unique insights into the day-to-day operations and customer interactions that can often be overlooked from an executive level. Listening to their experiences and feedback helps me understand the practical challenges and opportunities within our organization, based on which I can make more informed decisions and improve efficiency.

Employees also teach us the importance of empathy and communication. By engaging with them directly, I gain a deeper appreciation for their needs, motivations, and aspirations, which in turn shapes a more inclusive and supportive leadership style. Through this we cherish openness and trust, encouraging innovation and collaboration across all levels of the organization.

What do young people need today to feel empowered and have enough knowledge and courage to change the world for the better?

I believe that young people today need a combination of education, mentorship, and opportunities to feel empowered and equipped to change the world for the better. First and foremost, a solid educational foundation is essential, but it must be complemented by practical experiences that bridge the gap between theory and real-world application.

Crucial in that process is also mentorship of experienced professionals, as well as encouraging innovation and risk-taking, that helps them feel valued and learn from successes and failures, fostering creativity and resilience, as well as courage needed to drive meaningful change. In the world of digitalization, access to continuous learning, especially in new technologies, keeps them adaptable in an evolving business environment.

By offering education, mentorship, a supportive culture, and continuous learning, we equip the next generation with the tools to navigate the complexities of their chosen fields and make a positive impact on the world.