Leadership in Action: A Conversation with Regina Pruitt, CFO of Cote Hospitality
This August marks three years since Regina Pruitt joined Cote Hospitality as Chief Financial Officer, and she is amazed how quickly time has passed. In this period, she has influenced not only the financial strategy but also the leadership culture of Cote Hospitality. In a recent conversation, Regina shared her insights on leadership, the evolution of her perspective, and the importance of integrity, empathy and decisiveness in today's business landscape.
Defining Leadership: Clarity in Uncertainty
When asked what leadership means to her, Regina responded without hesitation. "For me, it's the ability to create clarity in times of uncertainty." She believes that leaders can unite people around a shared goal while operating with compassion and integrity. Regina's responsibilities extend beyond delivering strong financial performance for key stakeholders. She is equally committed to the employees.
"I'm driven to perform to the metrics and the numbers, but at the same time, we have to do the right thing for our people," she emphasized. This balancing act demonstrates that focusing on both performance and people can lead to effective outcomes. For Regina, this perspective is foundational.
Responsible Business: People and Profit Aren't Opposites
Regina holds a strong belief that performance and people-first thinking are not mutually exclusive. Her master's thesis focused on responsible business, highlighting that supporting employees ultimately benefits shareholders. "Doing right by employees can do right by the shareholders," she noted.
Her practical examples include:
- Offering the Daily Pay program
- Ensuring competitive salaries
- Adding meaningful benefits like PTO and holidays
- Reducing costly turnover
- Creating a culture of engagement
Regina insists that financial leadership should not solely focus on cutting costs. Instead, it should prioritize building a sustainable business that values its workforce.
A Leadership Philosophy Shaped by Experience: Women's History Month Leadership Lessons
Regina's leadership style developed over time. Growing up amid financial hardship shaped her early views. "Earlier in my career, I was quite harsh," she admitted. "If I had to endure that struggle, others could too." However, as she advanced to director-level roles, her perspective evolved. She realized that collective success benefits everyone.
This journey shifted her leadership from performance-driven to purpose-driven, helping her see the bigger picture. Regina leads with authenticity and approachability, fostering an environment where questions are welcomed. She values the moments when team members feel comfortable asking questions, as she sees it as a confidence builder.
Regina's authenticity has created a culture of psychological safety, enhancing team engagement and collaboration.
When discussing the top three attributes of successful leadership, Regina highlighted:
- Integrity: "If you're not doing what you say you're going to do, no one will follow you." In finance, integrity is mandatory.
- Empathy: "If we're not relating to people, it's not going to work." Empathy fosters trust and strengthens teams.
- Decisiveness: Regina described this as a vital skill. "Often, you don't have all the data, but you must make decisions quickly."
While collaboration is essential, leadership requires the ability to move forward decisively.
No Surprises: Real-Time Feedback
Transparency is a key value for Regina, especially regarding performance evaluations. "Nothing should be a surprise on a review. You should always know where you stand." When issues arise, she tackles them head-on, asking, "How did we miss this? What went wrong?" Often, team members already possess insights into solutions. Listening is crucial to effective leadership.
At the end of projects, Regina prefers to conduct immediate reflections, or post-mortems. "Doing a post-mortem right away sets you up for better things in the future," she stated.
As a woman in leadership, Regina acknowledges unique challenges, particularly around decisiveness. "We walk a delicate line. If you're too direct, you can be perceived as harsh. If you're too easygoing, it doesn't convey strength." Despite this, she maintains a focus on balancing strength with authenticity.
Her authenticity extends beyond the workplace. Regina humorously shares her passion for home renovation, particularly her vision for a wood-paneled basement. Her team has embraced this aspect of her personality, sending her listings for taxidermy items to complete her vision.
In discussing role models, Regina mentioned two women who inspire her:
- Sara Blakely, founder of Spanx, for her entrepreneurial spirit and bold leadership.
- Tori Dunlap, founder of Her First $100K, for her innovative workplace practices and financial advocacy.
Regina finds inspiration in their efforts to create positive change in the workplace. Regina's leadership philosophy embodies balance. She emphasizes:
- Numbers and people
- Compassion and accountability
- Authenticity and decisiveness
- Performance and purpose
Her journey over the past three years at Cote Hospitality illustrates that effective financial leadership and people leadership are complementary. They can co-exist and thrive together, creating a rich and fulfilling work environment.
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