A: Welcome back.

B: It’s been a little while I know, again, but …

A: Busy… busy… busy.

B: Absolutely.

A: So, what’s new?

B: Well, what’s new is that my book is finally, nearly, here.

A: Excellent - and it’s called ….

B: ‘Tales from the Front’.

A: ‘Tales from the Front’? An interesting title.

B: Well it’s a combination of 2 titles - Tales of the Riverbank ..

A: …and something with ‘front’ in it?

B: ‘All quiet on the Western Front’.

A: I see, an anti-war novel written by Erich Maria Remarque about the horrors of that war and also the deep detachment from German civilian life felt by many men returning from the front.

B: Yes, a classic tale of several schoolmates who represent a generation destroyed by the dehumanization of war.

A: And a TV series about Hammy Hamster.

B: Featuring his mate GP the guinea pig… but that’s another story…

A: A question springs to mind - why? Didn’t you originally call it ‘A Trainer’s Diary’?

B: I thought the title would evoke an image of those olden days - conjuring images of the trainer as explorer, trail blazer, hero, trend setter.

A: Trend setter?

B: Well perhaps not trend setter but a title that suggested a sense of loneliness, the danger, the humanity and the inhumanity of it all.

A: Um….

B: Whilst still retaining the old-fashioned charm of a happier, more innocent age where animals talked and had fascinating, but fifteen minute long, adventures.

A: So you thought of all this?

B: Well not exactly - my publisher thought of it.

A: Still, It is a ‘Weekly Diary of the Laughs, Tears, Stresses, Triumphs, Fortunes and Misfortunes of a Management Trainer’. Did you write that?

B: I refer my honourable friend to my previous answer.

B: It’s been a little while I know but …

A: Busy… busy… busy

B: Absolutely. But I need to talk about Euro Disney?

A: Do you mean Disneyland, Paris ?

B: Afraid not. It’s part of the ‘what are the glorious mistakes you can learn from’ series.

A: Pretty big series.

B: Oh yes. So let me give you a brief run down of the problem.

A: Please do.

B: Well Disney wanted to build a theme park in Europe - Florida was a big success so they were looking for more …

A: … money.

B: .. opportunities to make the dream come true. So they choose Paris.

A: I’ve often wondered about that. Why Paris?

B: Good question. What do you know about Paris, France.

A: Well I know that Paris, France has a latitude of 48° 51′ north - roughly the same as Prague, Krakow, Lvov, Kharkov and Winnipeg.

B: Good.

A: The average temperature is around 25 degrees Centigrade (77 Fahrenheit).

B: Whereas Florida has an average temperature of 33 degrees C. (92 F.)

A: Doesn’t Paris, Texas have an average temperature of 33 degrees C. (92 F.)

B: I believe so.

A: You don’t think…….

B: No. (pause) It couldn’t be ….

A: Anyway another thing I know about Paris, France is that it’s full of French people.

B: And what do we know about French people?

A: Well we know they have a culture of fine food and wine; the mentality of French workers is different from American workers - they tend not to like being told what to wear, how to behave and what size earrings they are allowed; European business is often conducted differently than business in America, for instance school terms in Europe are more strictly adhered to in Europe, i.e. French parents are less likely to take children out of school for a week for a holiday; European spending habits are different than US habits - they aren’t willing to pay high prices for hotels to be close to the attractions. Europeans tend not to stay too long in one place for holidays, etc. etc…

B: I see, so it’s not Florida then?

A: It’s not.

B: Anyway, Euro Disney opened in April 1992. On the first day there were expecting 500,000 visitors.

A: How many were there?

B: 50,000.

A: So did Disney have a rethink?

B: They did.

A: Well done Disney.

B: However it took them 2 and a half years and costs rose from $2.25 billion to $4 billion.

A: So the learning here is?

B: Don’t get into a stupid fight with the French.

A: Or arrogance is not bliss

B: Or be prepared to change when you’re wrong.

A: Exactly.

B: As an afterthought I’ve just read ‘The Disney Way’ co-written by 2 consultants versed in the Disney principles ‘Dream, Believe, dare, Do’.

A: Oh and they have an explanation for Euro Disney do they?

B: They do …. “One of the biggest mistakes was in naming the park.”

A: I see, so the money, the culture, the climate weren’t all that important then?

B: Apparently not. They continue; “Fortunately, Disney took steps to rectify the problems before the venture failed completely.”

A: So success then.

B: Apparently so.

B:Are you sure?

A: Yes. There’s a very interesting problem concerning 2 goats and a car.

B: Shoot.

A: OK. Stay with me for this – it’s a bit tricky.

B: OK.

A: On a tv show contestants can win either a goat or a car.

B: Why?

A: Because……. I don’t know – perhaps they’re Capricorns?

B: If they were Pisces?

A: It would be 2 fish and a car I guess.

B: You digress.

A: I do. There are 3 doors on this t.v. show and behind each door is either a goat or a car.

B: 2 goats. 1 car.

A: Correct. And before you ask - you can’t hear or smell the goats.

B: Or the car?

A: Or the car.

B: Go on.

A: The host asks the contestant to choose a door. The winning contestant chooses a door.

B: Door number 1, 2 or 3.

A: If you like.

B: I like. Oh by the way does the host know where the car and goats are?

A: Yes. This is important.

B: Glad I asked.

A: OK. So the contestant chooses 1, 2 or 3. Then comes the intriguing part.

B: What – the door is opened.

A: No. The door isn’t opened

B: What happens?

A: Well, the host opens one of the doors not choosen to reveal a goat.

B: Whilst the contestant…

A: Whilst the contestant still has the door they’ve already choosen. They may even stand by it - if they like.

B: Intriguing.

A: That’s not the intriguing part. The next bit is.

B: Pray tell.

A: Well the host then asks the contestant if they want to change their mind.

B: And?

A: And invariably the contestant says ‘no’. How crazy is that?

B: Not that crazy.

A: It’s ridiculous.

B: Why?

A: Well – if the contestant changes their mind they have twice the chance of winning the car, of course.

B: Of course (pause). I see it now?

A: No you don’t. But it is true though. Trust me. It’s maths.

B: And this proves?

A: That it’s often difficult to adapt – change your perspective – change your TOR.

B: Tor? Mountain? Get to the top of the tor and change your point of view?

A: Terms of Reference.

B: I knew that. But seriously, talk me through the goat thing.

A: Well – it’s to do with where you are.

B: (A long drawn out) OK…..

A: At the start you choose a door and have a 1 in 3 chance of getting the car. Right?

B: Check.

A: When you’re asked if you’d like to change your mind the TOR are different.

B: (A longer drawn out) O.K…………

A: Look at it from the point of view of the prize behind the door that the contestant hasn’t chosen and hasn’t been opened.

B: I can do that.

A: If you’re a car – you won’t be opened – obviously.

B: Obviously. Because …?

A: Because you’re a car and the host wouldn’t give the game away.

B: Ah ha.

A: So therefore you have a 2 in 3 chance of being a car…

B: Because there are only 3 options for the doors that are not the contestant’s choice….

A: Which are a) car/goat, b) goat/car or c) goat/goat.

A: Exactly.

B: So by eliminating the goat as an option in all three

A: You are left with options …a) car b) car or c) goat.

B: So as a contestant if you worked this out you know…

A: You would change…. QED.

B: Quite Easily Done?

A: Quod Erat Demonstrandum.

From the late 1920s stress has been defined as a “fight or flight” reaction to a threat, or a perceived threat.

This definition by Walter Cannon now appears to be incomplete and research also suggests that the order is wrong.

Jeffrey Gray, amongst others ethologists, redefines the onset of stress as having three distinct stages – freeze, flight and only then fight.

The initial stage, “the freeze response”, is described as a state of hyper-vigilance (being on guard, watchful, or hyper-alert). This “stop, look, and listen” stage is associated with fear. Ethological research has demonstrated that prey that remain “frozen” during a threat are more likely to avoid detection.

Following this initial freeze response, the next response in the sequence is an attempt to get away from the danger. Once that option has been exhausted, there is an attempt to fight. These reactions always occur in this order.

These observations within the animal world are still thought to apply to humans as a hangover from primitive times. When we get into stressful situations the body automatically carries out a number of functions:

• Firstly it discharges large amounts of adrenalin into the blood stream.
• It shuts down the digestive system to allow an increased blood flow to the muscles.
• It thickens the blood so that if the organism is cut, the blood will clot quickly.
• These chemicals stay in the body and cause the symptoms we associate with stress these days – upset stomach, palpitations, heart disease, depression, etc.

Today a modern financial executive is more likely to encounter stress with a last minute presentation to the board, rather than being attacked by a wild animal. Yet the same stages are involved. We’ve all experienced the freeze response – or denial response, as some psychologists interpret the threat. It takes the form of: “Why me?” This is followed by the flight option. This can be quite tempting at the time, and occasionally the stress is so bad that flight – physically or emotionally – is the only way out.

However, more often than not the final option kicks in. This inevitably manifests itself as the “challenge”. The CFO has to respond as rationally and calmly as possible whilst the adrenaline builds up. Once or twice this is good. However, over a number of months, or years, it can eventually cause headaches, ulcers, etc as well as potential psychological and behavioural problems – depression, sleeplessness, etc.

The timing of stress is different from executive to executive. Graham Beasant, director of Finance and Corporate Resources at the UK’s Central Office of Information (COI), feels stress for him has an almost seasonal element: “I feel more pressure from April to June due to the end of the financial year and the preparation of COI’s annual report. During this time there are deadlines placed on COI by Parliament, the public and auditors.”

Maurice Phillips, finance director, Southdown Housing Association identified different aspects of the job as having more stress: “If you have a chance to work in finance then you will realise that most finance jobs are very busy in any organisation and stress comes with the nature of the work. The higher you go the more demanding and stressful the job becomes.”

Stress isn’t all bad though – we need some stress in our lives in order to perform – those last minute energy rushes to meet a deadline, the adrenaline that gives you the ability to see sharper, hear more and react quicker when placed in uncomfortable situations. We need stress – without it life would be incredibly boring. On the positive side stress is a source of motivation and a necessary component to survival. But it’s this excessive or prolonged stress that inevitably takes a toll on health.

A recent development in the study of stress links to control – the less control people have over their lives the more stress they tend to have. In terms of management within organisations, occupational psychologist Cary Cooper says: “Senior managers have ‘a sense of control’ … they feel they’re involved in decision-making. Research over the last couple of decades has shown that people who feel they have no control, no autonomy over the job they do in the workplace are likely to get a stress-related illness.”

How much control, as employers and managers do we have over these factors? Quite a bit, it would seem. Many of these factors relate to job design and communicating expectations – these are probably within the control of managers. Some organisations seem to take these factors very seriously indeed and many have introduced schemes for managing stress amongst their workforce.

B: Imagine that.
A: Imagine what?
B: A captive audience.
B: This is true. It’s a little like Personnel Today.
A: How so?
B: Well they seem to feel that they have sole power over HR writing in the UK.
A: You wouldn’t be bitter about anything here at all?
B: Well they have just rejected a 15th straight idea.
A: I see.
B: And if you look at some of the nonsense they do publish…
A: Such as?
B: Such as an article on ….”How to manage employees who win the lottery.”
A: (gasp)
B: I kid you not…

“For some HR professionals, the familiar lottery slogan ‘It could be you’ pops up more often than expected.
There are more and more stories of people who want to carry on working after they’ve won the lottery - and it is up to HR to consider how to deal with staff with new-found riches.
Supermarket sweep
Hitting the headlines most recently was a case involving 10 Tesco workers who each scooped a £750,000 share of an overall £7.5m win. All 10 have decided to continue working.
“I can’t speak for the winners, but I think a large part of wanting to return to work is a desire to return to an extent of normality,” says a spokeswoman for Tesco.
The fact that the employees have chosen to stay on, she adds, shows that a job can be worth much more to an individual than a salary.
Other recent examples include Mary Jones from Denbighshire, who said she had no intention of giving up her cleaning job when she won the jackpot. And at Royal Mail, almost all staff in two separate winning syndicates stayed in their jobs.
So how can HR keep lottery winners - or indeed anyone who comes into a windfall, whether via inheritance, marriage or any other means - motivated and loyal? Tesco believes the answer lies in treating every member of staff as a valued individual, citing examples of flexible working opportunities and an emphasis on career development.
Mike Emmott, employee relations adviser at the Chartered Institute of Personnel and Development (CIPD), agrees. “It comes down to all the things that HR should be thinking about anyway - support, recognition, fair treatment, giving everyone a chance to contribute, and listening to your employees.”
Work and self esteem
The CIPD conducted a survey a few years ago, asking people whether they would still work if they won the lottery, and a significant percentage said yes. Work is crucial to an individual’s self-esteem and gives life structure, adds Emmott.
Staff at the Alliance & Leicester bank clearly agree. A group of lottery winners invited their director to attend the presentation of their cheque and join in the celebrations.
Loaded question
While Tesco is adamant that its lottery winners won’t be treated differently to any other member of staff, Carol Dempsey, a reward partner at PricewaterhouseCoopers, believes there should be exceptions to this rule.
“I think we should acknowledge that people are motivated by different things and accept that money can be significant,” she says.
“If you have a lottery winner who previously took a particular job because they needed the money, it makes sense for HR to find them a role that pays slightly less, but that they would enjoy more,” Dempsey adds.
Kerching!!! Holding on to big winners
• If you want to hold on to staff who win the lottery, think carefully about overall employee engagement.
• If you treat a lottery winner differently to any other member of staff, be sure there’s a good reason for it and communicate this.
• Don’t get involved with jealousy among colleagues as a result of the win. This is for individuals to sort out among themselves.
By Kate Hilpern”

A: I like the little tips at the end.
B: So ‘Personnel Today’ isn’t it?
A: Still bitter then?
B: Just a tad.
A: Any thoughts on Christmas?
B: Not really. Just amazed at the different class system in Britain at the moment.
A: Really?
B: Oh yes, I’ve a copy of ‘Fur, Feather and Fin’- Country Sporting Gifts for Christmas.
A: Tell me more.
B: Well amongst the items are; £35 shooting socks, a Fly Free Game Safe that’s “a brilliant invention to keep flies and predators away when hanging your game”.
A: Always a problem that.
B: My favourite though is a tally counter
A: For counting all the game you kill presumably.
B: Possibly but it’s more versatile than that – It’s “for counting birds or people!” – their exclamation mark not mine.
A: More, more.
B: Well for the woman (probably called the little lady) who has everything, there’s a cushion embroidered with the words “Treat her like a thoroughbred and she won’t be a nag” or “A great fisherman lives here with the catch of his life”.
A: Great cushions
B: These cushions or “these saucy cushions make an amusing gift for the right person” and cost £36.
A: Enough already.
B: Ok – that’s enough for this year.
A: Isn’t this just like a Simpson’s clip show with a montage of half a dozen half explored ideas?
B: Half a dozen?
A: I exaggerate…….three.

B: As I see it “The bottom line is I got it wrong by being overexposed to subprime and I suffered as a result of an unprecedented liquidity squeeze and deterioration in that market.”

A: So you’re looking for different work?

B: Well you’ve got to really. It’s like a shark.

A: I see – the pinnacle of evolution - perfection in every detail.

B: Not really. I mean you’ve got to keep moving or you die.

A: Is that really true for sharks?

B: I doubt it. Since I’ve been watching Q.I. and reading about new research from scientists I have no faith in anything I believe to be true any more.

A: Such as…

B: One moon, the Corby trouser press not originating in Corby, death being bad for you…

A: These things aren’t true?

B: Probably not. Life is far more complicated these days.

A: It’s always been problematical for me.

B: Yes but you’re only 8. You had no simple past to look back on. No times when policemen rode bicycles, gave you a clip around the ear for scrumping apples, and swerved their panda cars home after a 3 hour shut-in at the British Legion. Ah. Simple days.

A: Dangerous days.

B: Possibly, but in a nicer, no publicity, way.

A: I’m still confused about what I’m supposed to do.

B: How so?

A: Well am I supposed to pretend I believe in Father Christmas, eat all my food and play computer games?

B: Of course.

A: But it doesn’t make sense. You buy me a computer, lots of games then tell me I spend too much time playing on it. Ditto red meat, mobile phones, the Disney Channel. As I say it’s confusing.

B: I see.

A: You also tell me how great life was when you were a child. You could play out all summer long, on your own, in a local wood for 14 hours each and every gloriously sunny holiday day. Yet if I go further than the end of the drive…

B: Well – things are different now.

A: Statistically not I think. The stats on child murders, harmers, etc haven’t changed significantly since Victorian times.

B: Good point.

A: Another thing. Say you gave me all your money for three months and I not only lost it but left you with a debt of say, $8.4 billion you wouldn’t be too pleased would you?

B: Probably not.

A: You wouldn’t pat me on the head; say “take some time off and go shopping” would you?

B: No.

A: And you wouldn’t give me $160 million to spend on aforementioned shopping would you?

B: Of course not. That would be silly.

A: I’ve one more question for you.

B: Shoot.

A: How do you apply for a job with Merrill Lynch?

Dr Patricia Galloway has recently completed her term as president of the American Society of Civil Engineers (ASCE). She is the first woman in the organization’s 152 year history to hold that office.

She has been appointed by President Bush to the National Science Board. The Board is composed of 24 part-time members, appointed by the President and confirmed by the Senate. They are selected on the basis of their eminence in basic, medical, or social sciences, engineering, agriculture, education, research management or public affairs. Dr. Galloway has been appointed for a six-year term.

She is CEO and CFO of the Nielsen-Wurster Group. The Group, was founded in New York City in 1976 by Chris Nielsen. It is a 150-person construction management company with offices at 345 Wall Street. She became president of Nielsen-Wurster in 1999, and was appointed CEO in 2001, when Chris Nielsen, whom she married 20 years ago, stepped down. Pat had joined the firm in 1981 and has taken on consulting projects that took her all over the world - 84 countries, and counting;

Pat on her first job assignment;
“My first job assignment was as a tunnel inspector on a deep rock tunnel in Milwaukee, Wisconsin. I was the first woman to serve as a tunnel inspector on this project, which was a wastewater treatment project. At the pre-construction meeting with the contractor, the older Italian male owner of the company pointed at me and said, “That woman will not be allowed in my tunnel!” My project manager just calmly responded that he would gladly award the project to the next lowest bidder the next day. I was mortified and could not believe that someone would not allow me to work because I was female!”

On working for Nielsen-Wurster;
“At Nielsen-Wurster they throw you off a pier and if you swim, they let you swim as far as you can. I have been fortunate to work on the Panama Canal, the Xianghli dam in China, the City Link Toll Road in Melbourne Australia, the Tsing Ma Bridge in Hong Kong, a multi-purpose irrigation project in Northern Lugon in the Philippines, and the Kuala Lumpur Malaysian International Airport.”

On her life outside work:
I have four stepdaughters and a wonderful Border collie dog named Rings, who travels with me everywhere I go domestically. You might ask how I can fly everywhere with my dog. Well, I have my own plane! In fact, I am President of a women-owned enterprise called Unionville Aviation. We own two planes that are mostly used for business travel with my company, as well as charter flights. We employ a full time pilot, but my husband and I are also private pilots.

I interviewed her in April 2007

Q. What situations cause you the most stress?
It can be stressful when there are lots of deadlines, lots of quality issues. I usually have a very busy schedule with high quality, tight deadlines - it can get very stressful.

Q: How do you cope at these times?
I’m lucky in that I really do love what I’m doing. I could imagine I would feel a lot more stressed doing a different job. My Work life balance is important. I enjoy my time off.
For instance, I had a very busy, stressful period a number of weeks ago. It was very difficult but I took the whole weekend off and never touched the computer once. I came back on Monday more refreshed and more effective than ever.

Q. What support mechanisms have you?
I have a very understanding husband who knows the business, the pressures. I also have a dog that doesn’t. It’s very important to have people to talk to.

Q. What support is there for employees in your Organisation?
This is similar to how I manage my stress. We have an open door policy – all employees are welcome to talk to me. There is a mentoring scheme within the organisation – “an open ear” for all employees. It’s important that people have a system of release. Everyone needs to be able to vent.

Q. Is there different stresses for your different roles within the Company?
I am the Financial Executive as well as a CEO. I find the finance aspect extremely stressful. Managing money is a very stressful item as you always have to watch the bottom line. You need to make sure you’re constantly on top of things with invoices etc…
An added burden for CFOs is facing a lot of questions from the board, shareholders who want to know why things can’t be done better, cheaper, etc..

Q. Is there a time when you’ve been under more than your usual amount of stress?
A few years ago I became the first female president of ACSE and found it very rewarding but very stressful. I had little control over engagements, travel, expert witness testimony, etc.. It was a fixed term appointment and I was relieved at the end of the period to return to my ‘normal’ stressed CFO and CEO role. I probably had more travel, more deadlines to meet but I felt calmer as I had more control of my schedule. It was a great opportunity as president but for me was a more stressful.

Q. Any final thoughts on stress and control?
I feel stress and control go hand in hand. I can imagine that it would be very stressful for executive directors of public companies. They would have less control and more stress.

Ellen Langer is a modern day Renaissance Woman. Originally a researcher and psychologist she has developed into a writer and, most recently, a painter. In recent years her two prominent work directions have been several books looking at ‘mindfulness’ and her painting. She is incredibly non-precious about the world of art - “All it takes to become an artist, is to start doing art”

Mindfulness, as a concept has been a large part of her life. The original book, ‘Mindfulness’ was published in 1989 and ‘The Power of Mindful Learning’ in 1997. There are 2 more books on the subject in preparation ‘Mindfulness and Health’, and ‘Mindfulness at Work’. Mindfulness has become a feature of her life as I noticed the word cropping up on a number of occasions in the interview and even by email where she concludes with “Mindfully, Ellen”

Her description of how she started painting is below the interview.

I interviewed her in May 2007

Q. What are you up to at present?
I’m in the process of writing a new book. I tend to write in the mornings. This is however, somewhat of a loose rule.

Q. What are your thoughts of work / life balance?
I don’t really draw a distinction between working and not working. Being mindful means that your work is part of your life. If you’re enjoying work it doesn’t seem like work. Perhaps if there’s one question you can ask someone to see if they’re working mindfully it’s “Do you need a vacation?” If they are working mindfully they are engaged in what they’re doing and enjoying it. I’ve referred to it as ‘The supreme accomplishment is to blur the line between work and play.’

Q. Recently you’ve achieved some recognition as an artist – being shown in 3 galleries I believe. I’ve seen some of your work and it looks as though you’re having fun.
If someone had told me 6 years and one day ago that I would be an artist I really wouldn’t have believed them. Then I started painted and I really started to enjoy it. I was interested in whether you could be mindfully creative. Research on other areas of the arts indicates that people are. People in orchestras enjoy themselves more when they are mindfully engaged in what they’re doing. It’s very exciting for me and there’s a final output. It is fun.

Q. I’m curious as to people’s perceptions of Wales. What thoughts have you on Wales?
Interesting I’ve thought about this when you mention it in your email. I have no stereotypes of Wales at all. It’s on the list of places I would like to visit.

Q. I hear there’s a film in the offering perhaps involving Jennifer Aniston?
Yes, and that is progressing well. It’s a very exciting project.

Q. How would you classify yourself these days? What would you say your occupation is on your passport?
I wouldn’t like to classify myself as one thing. I would like to think that I integrate my life as a psychologist, researcher, writer, and artist. I’m in a good position. I can experience something and then do some research to see if others also experience this.

Q. Do you plan for the future?
Not really. I would disagree with much of business literature on this point. I feel that I’m guided by goal and routine, rather they being governed by goal and routine. I pride myself in being ‘present’.

***

How I spent my summer vacation – Ellen Langer
I have a house on Cape Cod where I spend my summers. The plan each day is always the same: tennis in the morning, lunch with friends, and writing before the evening’s activities. But rarely do I follow the plan. And last summer turned out even more different than I had imagined. On the way, I found a side of myself that took me by surprise.

The day it began, I was walking down the street and ran into a friend, an artist. We exchanged pleasantries and then she asked what the day held for me. To my surprise, I said I was thinking of talking up painting. I don’t know why I said this. I’ve hardly ever thought about painting my entire life.

Being a supportive friend, she rushed me to her studio and gave me a few small canvases. I considered taking only one, thinking it would be enough. She insisted that I take five, because as she put it, “It shouldn’t be too precious.”

Coincidentally, that afternoon I had to deliver a book to another friend. He is a talented artist, as is his wife. She and I have never exchanged more than a few greetings, so when I saw her that day I couldn’t think of anything to say, except: “I’m thinking of taking up painting.” This became my “what you say to a painter” dialogue. She replied, “That’s great. Now get yourself a large canvas and just do it. Don’t evaluate yourself. Just do it.” Aside from the canvas size, the advice was the same.

A few days later I bought a few tubes of acrylic paint and a couple of inexpensive brushes. I didn’t paint, I just “got ready.” I left the Cape to visit a friend in Dartmouth, Massachusetts. While there, I found a wooden shingle and started to draw on it. The drawing was of a village, soft of a Vietnamese village. (You have to understand I wasn’t one of those kids in school who could draw.)

I took two more shingles back to Cape Cod, and on one I painted a girl on a horse racing through the woods. I liked it, yet I was afraid to show it to anyone. At the same time I felt compelled to show it to someone, anyone, who could tell me if it was any good. I chose the woman in the art supply store who I didn’t know. When I walked in the store, I showed her the shingle and asked if she thought I should paint this or something else. She said it was great, but I didn’t know whether she meant it or not.

I know now that no matter what she said, I would have found a way to see my effort as good rather than bad, because doing the painting was enormous fun. Still, it’s hard to ignore what others think. Then a student friend of mine visited. We painted. (As a child, she did well in art.) She reminded me of what I teach in class about the context-dependent nature of evaluation, and she joked and embarrassed me into just enjoying the act of painting.

Then the backhanded compliments started. A very close friend of mine saw my first creation and said, “They’re never as good as the first.” I don’t think she meant to be unsupportive, and in fact, I took the comment as a compliment. Why the first may actually be the best is worth some thought. I was fully present for the event, I didn’t judge it while I painted, and I didn’t mindlessly follow rules–I couldn’t, I didn’t know any. If the first effort is engaged mindfully like mine was, then it might be better than any subsequent attempt–that is, if those that followed were indeed more scripted or planned.

I bought a few more canvases and on one I painted a horse that appeared gleeful as he kicked his back heels together. A friend saw it and told me that a horse couldn’t do that. I told him I was new to painting, not to physiognomy. It was interesting. If people saw the painting in a gallery, they would have assumed each brush stroke was intentional. For my painting, the assumption was error, not intention.

When I got up every morning, I loved seeing the painting of the horse. I didn’t know if it was because I painted it or because of its content. And so I painted another horse. This one appeared content even though he stood on both sides of a fence. I was oblivious to his being in this position while I was painting. The activity was mindful to be sure, and I loved every minute.

There is a gallery in town that has a painting of a horse. It’s very good and very pricey. People have made comparisons. “Have you seen the painting of the horse on Commercial Street? Your horse reminds me of that one.” I like my painting more and more, but I’m still trying to figure out how the two paintings differ. Another friend, also an artist, prefers my horse. I can’t believe it. I’m thrilled. I still don’t know the underlying ways in which they are different, but now I have the courage to find out.

It seemed that people were impressed with how productive I was. So I painted and painted. In a month’s time I had 25 canvases. I couldn’t be sure if they were any good, but I knew there were a lot of them. The feedback was very good, but I could discount it if I were so inclined. There were people who said the paintings were good because I painted them; and there were people who said the paintings weren’t good because I painted them.

I moved on to portraying people. Now the psychological significance was overwhelming. I painted a friend and myself sitting in chairs by a window. This was the first painting that had “real” objects. The chairs were real and I put us in them. I set out to paint the two of us sitting, reading and enjoying the morning. When I stepped back to look at the painting, I realized it was true to form. The floor was slanted toward her, and as always she was trying to read while I was busy talking to her–book in hand, not to eye.

I painted all summer, loving every minute. My efforts were unscripted and I was unaware of the rules. I don’t evaluate the paintings; I just involve myself fully. One doesn’t need any artistic talent for that. After the painting is finished, I analyze it, questioning the psychological significance of the content, style and color. Thus, painting provides an opportunity for engagement and self-awareness.

Some people confuse my enthusiasm for an evaluation. I share my painting nonetheless because this engagement brings me enjoyment, which is readily available to anyone willing to let the process itself take over. Take a risk and find a new passion. It makes you mindful, teaches you about yourself and, perhaps most important, could be enormous fun.

Michael Bencsik has dealt with more stress than most CFOs;

‘It was terrifying,’ says Bencsik, “There were 60ft seas and 80-knot winds, which sounded like screaming. It was ferocious on top of the boat, but inside was no better, as it felt like you were inside a drum. All you could hear was crashing waves, and you were thrown from side to side. Everything below was damp and wet.’

Battling through the horrendous conditions, the AFR Midnight Rambler sailed through to win the Tattersalls Trophy for finishing first under the international measurement system (IMS) handicap. It is still the smallest yacht to win the Sydney to Hobart Yacht Race since 1998. ‘We were excited by the win but that was somewhat tempered by finding out the full extent of what had happened,’ Bencsik recalls. ‘It was a shock.’’

Michael Bencsik is currently Chief Financial Officer of HSBC Bank Australia. He joined HSBC in 1999 as Financial Controller. Prior to this he has worked in various finance roles within Westpac Banking Corporation and TSB Banking Group in the United Kingdom. His interests are still Ocean racing (14 Sydney Hobart Races), Rugby Union and family.

I interviewed him in April 2007

Q. Do you feel there is more or less pressure placed on you as you have progressed in the HSBC?
In my role as CFO HSBC, you tend to have a broad commercial understanding that brings together all the parts of the bank and have the knowledge of the whole value chain. There is an element of increased ‘positive’ stress where you are in a senior position to effect change within the bank. It comes from the increased responsibility place by the Board and shareholders in managing the financial stewardship of the organisation and balancing this with the expectation from staff that they look to you with confidence that you are able to provide the proper leadership, guidance and communication. At more senior levels in the bank, it is perhaps the soft or people skills which emerge as becoming more important than the hard technical ones.

Turnover at the CEO and CFO level is on the rise because more and more Boards and shareholders are enforcing greater accountability over the success or failure of a strategy on the senior management team who have the responsibility for implementing it. This is perhaps where elements of ‘negative’ stress emerge.

Q. Would you agree, in general, that the more control you have over your environment, the less stress you have?
One of the constants in a CFO role is change which is increasing in pace, depth and breadth. Working within a global bank and managing customers and businesses across geographic boundaries produces various risks and opportunities. I tend to have less stress where I am familiar with the cause and effect levers within my immediate local environment. As HSBC is a global organisation, my matrix reporting lines into London, Hong Kong and the US increasingly give rise to changes in the level of stress myself and the team experience particularly where you are dealing with novel, ambiguous or complex information. Being effective in navigating the political landscape of the global business environment and having time to appreciate the cultural subtleties and nuances when working across countries with your internal peers, helps reduce stress. In addition, reporting to the CEO increases a CFO’s control over his environment because we are in direct communication with the ultimate influencer over the company, the CEO.

One of the constants in a CFO role is change which is increasing in pace, depth and breadth. Working within a global bank and managing customers and businesses across geographic boundaries produces various risks and opportunities. I tend to have less stress where I am familiar with the cause and effect levers within my immediate local environment. As HSBC is a global organisation, my matrix reporting lines into London, Hong Kong and the US increasingly give rise to changes in the level of stress myself and the team experience particularly where you are dealing with novel, ambiguous or complex information. Being effective in navigating the political landscape of the global business environment and having time to appreciate the cultural subtleties and nuances when working across countries with your internal peers, helps reduce stress. In addition, reporting to the CEO increases a CFO’s control over his environment because we are in direct communication with the ultimate influencer over the company, the CEO.

Q. In the role as a financial executive how does stress affect you?
It tends to have a positive impact on my work ethic because it encourages me to perhaps work harder to achieve the desired outcome. I believe that to be an effective CFO, stress is an important enabler as it tends to set a performance expectation level to staff to raise the level of their output.

Q. What mechanisms does your Organisation have for dealing with stress?
Employee Assistance Program - confidential external consultant where employees can go to seek independent advice whether on a work related or personal issue;
Staff are able to take 5 days personal or family leave if required outside of the normal annual leave and sick leave entitlement;
Ability to purchase an additional week’s annual leave on top of the minimum annual 4 week entitlement;
Adequate management training programs focused at managing stress;
Mentoring programme - senior staff mentoring up and coming managers
Flexible working hours policy - to assist staff with family requirements e.g. staggered working hours or part time work for certain staff;
Work behaviours manual - defined set of rules on how we expect staff to act;
Creating a culture of a supportive team environment - accessibility to senior management to voice concerns;
Employee attitude survey - independent yearly survey enabling staff to confidentially provide feedback;
Focus groups - facilitated by human resources to give to teams in customer groups time to provide feedback and reflection to each other about what is working, what is not working.

Q. On a personal level how do you deal with stress?
I have a range of outside interests which help me to balance stress and work.
It is easy with my job to be on call 24 hrs a day, so I switch off my blackberry on weekends and spend quality time with my wife and kids and friends.

I undertake a lot of sailing namely ocean racing with a crew of 10 or a 40 ft yacht, and have competed in 14 Sydney Hobart yacht races including winning the tragic 1998 Sydney Hobart on handicap and other divisional wins and placings. I currently race with a crew of ten on a 40 foot racing yacht which given the inherent weather conditions is a different form of stress! Sailing is my passion but has indirect benefits for self development, decision making, goal setting, teamwork and leadership that can be applied to a corporate environment. Our team for example is being used as a case study for a leadership training program being developed in the USA.

I am on the Board of a CFO mentoring company FEI Australia. I am one of a handful of CFOs which mentor rising young financial executives, typically in their mid-30s, who may be potential CFOs of the future. The Mentoring role enables me to give something back to other finance staff in providing a forum for sharing my own experiences including career mistakes etc with up and coming executives
I am on the Board and treasurer of a children’s charity Barnardos Australia. It provides a greater appreciation of my own circumstances. The role also helps expand my management skills as a director of an independent board and furthers my interest in Children welfare in promoting the general level of work and support the organisation provides in the community.

The above helps me with dilute any stress as it gives the ability to appreciate diversity of opinion and look at options from different points of view. By exercising soft and hard skills learned in a professional workplace to a different environment I feel more empowered and motivated as you are doing what you are interested in. It also provides a sense of perspective in work matters to issues outside of work.

Q. Are there any thoughts, insights, examples you could give me that would help me understand stress and your role better?
Generally the stress surrounding my role is balancing the competing needs of the business in my professional capacity and that of my personal life. In particular, I strive to provide a value adding role to assist the business by navigating and managing the areas of the business through the challenges of being part of a global orientated bank whilst at the same time ensuring that my staff have a meaningful and fulfilling career through meeting their development needs.

The CFO role I have is quite diverse and constantly challenging. An element of stress is positive in driving that edge of performance and ensuring that I am able to raise the level of performance of myself and that of my team.

There are three key areas which I generally seek to attain in managing stress:
Time balance between work and non work activities;
Involvement balance of the psychological involvement in, or commitment to work and non work activities;
Satisfaction balance obtained by myself in participating in certain activities.

There is no optimal equilibrium between the above areas as balance needs to be considered from multiple perspectives which are specific only to me. Trade-off between competing priorities is inevitable.