Mitch Berlin of EY Strategy and Transactions: 5 Things You Need To Know To Successfully Manage a Team

As a part of our series about the five things you need to successfully manage a large team, I had the pleasure of interviewing Mitch Berlin.

Mitch Berlin is the EY Americas Vice Chair, Strategy and Transactions (SaT), leading a team of nearly 8,500 professionals globally. Mitch has 25 years of strategy and management consulting experience across the Americas, European and Asia-Pacific regions, and he continues to advise CEOs at many of EY’s largest clients. Mitch believes it’s not just about “doing good,” but “creating good”, and his goal is to guide clients to make better, more informed decisions while considering the economic and social value of their deals. Mitch is passionate about fostering a diverse and inclusive working environment and believes the key to success is engaging individuals from different backgrounds and cultures with differentiated points of view and exceptional business skills.

Thank you so much for doing this with us! What is your “backstory”?

I first arrived at Ernst & Young LLP (EY US) in 1993 and began my career in M&A consulting. I worked across a variety of industry sectors, learning new skills and taking on new roles over the years. I left the firm for a brief stint at an internet startup in 2000 but quickly realized the value of a large multidisciplinary firm and was eager to return to EY US to continue building my relationships with both colleagues and clients.

I carry that entrepreneurial spirit with me in my current position as EY Americas Vice Chair, Strategy and Transactions. I lead a team of nearly 8,500 professionals and feel proud to work for a company that values kindness, community, excellence and authenticity.

I’ve also held on to the importance of belonging, which is a big driver behind another one of my roles, as the EY Americas Executive Sponsor for Unity, the EY professional network that supports and promotes an inclusive EY culture for LGBT+ people and allies.

Can you share the most interesting story that happened to you since you started your career?

I spent seven months in Munich while I was working on a transaction for a client in Germany, and it’s an experience I will always remember. I was living in a hotel with 40 EY colleagues who came from countries all over the world, including Germany, Poland, France, Spain, the UK and Switzerland. The opportunity to immerse myself in another culture, and closely interact with people from diverse backgrounds, gave me a new perspective. It enabled me to be a more well-rounded professional, particularly in the EY organization, where it is essential to embrace diversity, consider cultural nuances and be an empathetic leader.

Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?

Early on in my career, my team left me behind at the airport because they did not have time to wait for me at baggage claim. I quickly learned how to pack light (I now fit everything in a carry-on when I travel). I’ve also learned the consequences of carrying too much figurative baggage as a leader. Leaders today need to stay agile, move quickly and learn how to adapt to any situation. They must be proactive and do what is best for their employees to be successful as a team.

Ok, let’s jump to the core of our interview. Most times, when people quit their jobs, they actually “quit their managers.” What are your thoughts on the best way to retain great talent today?

The next frontier in business is having the right talent in place to support the company in innovative and transformative ways. However, retention rates demonstrate that company culture and employee expectations have suffered a serious breakdown. According to our latest EY CEO Outlook Survey, CEOs are concerned about scarcity and cost of talent, with roughly one-third of respondents citing it as a concern.

From where I sit, there are three keys to keeping great people:

1. Offer challenging assignments that enable people to grow their careers within an organization. Keep employees engaged, hone their skills and develop new ones, and strengthen relationships through stretch opportunities that offer a sense of accountability and accomplishment.
2. Implement continuous learning, through formal learning and development programs, and participate in industry events, taking part in mentoring relationships and the apprenticeship model — all demonstrate the employer’s investment in equipping their people with the knowledge needed to succeed in our rapidly changing environment.
3. Finally, provide a workplace culture in which people feel safe and free to take chances, try new things and innovate.

How do you synchronize large teams to effectively work together?

The best way to bring a group together is to rally around a common purpose. It could be for a client deliverable, a pitch, learning or some other focus, but, at the end of the day, you can look back and have a sense of accomplishment about what you came together to achieve.

This also helps with another element that is critical for the success of large teams — networking. The members of a team need to build relationships with each other not only to get the work done most effectively but also to enhance wellbeing and a sense of belonging within the group.

A common purpose serves as a rallying cry with the intent to collaborate, build relationships and achieve shared goals.

Here is the main question of our discussion. Based on your personal experience, what are the “Five Things You Need To Know To Successfully Manage a Team.” (Please share a story or example for each — ideally an example from your experience.)

Model transparency, authenticity and empathy: Leaders have an opportunity to build a new social contract with their employees. To achieve successful outcomes for stakeholders and accelerate transformation, leaders need to step forward — especially in uncomfortable or awkward moments, even if there’s personal risk — to build trust and camaraderie with their teams. For example, on the heels of the recent tragic events that transpired in Colorado Springs at Club Q, it was important for me to communicate authentically with my team and demonstrate the firm’s commitment to our LGBT+ community.

Create a positive culture of belonging: Inclusivity is not enough. Leading transformational organizations require a culture where everyone feels that they belong. When team members are able to bring their full selves to work, teams are able to foster a more effective, connected and innovative culture; pressure test ideas; and fail forward smarter and faster in a safe environment.

Be intentional and consistent with communications: There is no one size fits all when it comes to leadership, but consistent and intentional communications will help build the trust needed to lead teams effectively. Check in regularly with your team members to create an environment where people feel comfortable to be themselves, bring ideas and raise concerns. In EY Strategy and Transactions, we’ve rebooted our monthly webcasts to make them more conversational, with me and the other leaders talking directly to each other and to the audience in a way that’s less scripted. Employees can communicate with us, ask questions in real time and get the sense that we’re giving them our real impressions rather than talking points.

Flatten the team structure: A lot of companies talk about a flat structure, but living it is as much about culture as it is the organizational chart. When you leave your titles at the door, you are better able to build relationships and communications channels from the most junior person to the most senior, with each bringing varied and valuable perspectives. We have “open mic sessions” where employees can ask questions of the leadership team, which reinforces open dialogue and relationship building. Accessible leadership can help build trust, connection and learning opportunities across the team.

Create moments for employees to bond: Leaders underestimate the amount of hands-on time they need to spend with their people. Especially in a hybrid work environment, it is important that leaders create meaningful opportunities to gather and connect so employees can “find their people,” make friends and create lasting connections. Every year, we host a talent show that brings our team together in a fun and intentional way to highlight individual talents and foster connection points for our people — plus it raises money for a good cause!

What advice would you give to other CEOs or founders to help their employees to thrive?

Building the right culture begins with you. Employees get a sense of the CEO’s values — they see it and feel it — every day. This has a direct impact on the performance, resilience and spirit of the entire workforce.

CEOs who embody a culture that helps employees feel recognized, valued and supported create environments that enable their people to thrive.

You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger.

At the EY organization, our purpose is building a better working world. We are incredibly lucky to get to do the work we do, and it is important to pay it forward in whatever ways we can. Giving back is a big part of our culture. It grounds us and provides perspective on what is really important. If I could inspire a movement, it would be to instill the philanthropic spirit in the next generation of leaders and create a ripple effect across our communities.

Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?

“Be who you are from day one.” This has served me well throughout my career and my life. If you have to change who you are to fit in, it’s not a good fit. What’s more, by living authentically, I am encouraging others to do the same.

Thank you for these great insights, and for the time you spent on this. We wish you continued success.