Summary: As many seasoned leaders begin to step down from their roles, their wealth of knowledge and expertise offers valuable lessons for future leaders. Here, we consider both outdated, ingrained patterns and ones to retain.
Dear Dr. Sylvia,
The CEO of my very successful organization has announced his retirement. It will be before the end of next year.
That means he will hand over the reins within the next eighteen months.
This man is a model of self control.
We all respect him.
He is seemingly in good health and has a lovely wife, grown children, and several grandchildren.
Thus, as I continue to climb the ladder of success, I wonder what he thinks when no one is around and he is alone with his thoughts.
In our present world, we measure success by money, physical assets, celebrity status, and even the number of likes on social media.
There are days I think I am heading down a road that will lead to a President or CEO role.
Most importantly, I would appreciate your thoughts. I know from your work how important it is to look at personal and cultural patterns. We need to release and transform many. I would like to know which to retain as the world changes.
Signed,
Optimist
Dear Optimist,
Your timing is perfect.
Recently, I have been interviewing CEOs for my new book, “Complete IT or Repeat IT,” about transforming outdated behavior patterns and gaining emotional power.
In fact, I interviewed those at the top of their game for advice to add to my latest book and our business coaching certification program.
When interviewing successful leaders, ask first and then sit back and listen
At the high end of a career, Fortune, Forbes, and Time interviewed most of these people dozens of times. They know what will sell in the Boardroom and on Wall Street.
Most have chosen to stay for another year or so and then retire, pack their bags, and head for warm sun and soft sand.
My BIG question is: what advice do you have for the emerging leaders who will take over the ships of industry in the next decades?
What is the most common answer?
In the quiet of a one-on-one conversation, I guarantee they will all remain nameless. Their answer sounds very different from the prepared speech on stage when they offer the graduating university class a message of hope and motivation.
In the quiet of the room, I hear a variation of how tired most leaders are.
If you want a friend at work, bring your dog
Above all, I wait. That’s it? I ask again.
And then I hear the sigh. “It is true. It is lonely at the top.”
For example, these are all millionaires many times over. Yet, when I ask how the money has made them happy, I get another deep, guttural sigh.
Yes, most admit they enjoy the homes, clothes, cars, and trips. Yes, they enjoy the freedom to send their children to the best colleges without worrying.
Happy? Freedom? Many say, “I was too busy working to think about these abstractions. Freedom, nah! What I did was ensure my leadership team performed effectively.
In fact, I spent much of my time making sure the President of the Board was calm.
Similarly, I hear variations of “Maybe I will find the deeper meaning of freedom and happiness after I retire.”
That sounds better than thinking about bringing your dog to work to stamp out loneliness, and that is what we desperately need in the 21st Century. Deeper meaning and legacy are on the agenda before retiring.
Here I would like to share the wisdom of two prominent leaders who have shaped industries and transformed organization.
To be clear, I did not interview them personally. Remember, those I did talk with wanted to remain anonymous so they could speak of their personal journeys.
I hope these two very well-respected, noted leaders’ advice for thriving in the rapidly changing world of the 21st Century will be helpful
Indra Nooyi, the former CEO of PepsiCo, is widely regarded for her transformational leadership.
To demonstrate, Nooyi focused on long-term goals and integrated social responsibility into business practices
She led the company through significant growth whole ensuring a commitment to sustainability, health, and inclusion during her tenure.
Above all, her advice for future leaders underlined profitability and a positive impact on society.
Future leaders must align their organizations with a mission beyond profits
Warren Buffett, the legendary investor, and CEO of Berkshire Hathaway, is regarded as one of the most successful and influential leaders in the financial world.
Even as he nears retirement, his advice for future generations continues to shape business strategies world wide.
Warren Buffett believes that patience is paramount as a leader
He states that future leaders should not chase short-term wins at the cost of long-term sustainability,
His dictum is to build for the future and remain focused on goals beyond quarterly results.
Key leaders believe you should commit to lifelong learning
Buffett, even at 94, spends much of his day reading and expanding his knowledge. He has said, “The more you learn, the more you earn.”
Moreover, he suggests that future leaders will succeed best when they maintain a curiosity-driven mindset and encourage pursuing new information in this ever-changing world.
In conclusion, all the leaders I spoke to are aligned. They all suggest the need to lead with empathy, purpose, balance, and a commitment to learning.
Leaders can create epidemics of courage and possibility.
Most importantly, that sounds better than thinking about bringing your dog to work to stamp out loneliness, and that is what we desperately need in the 21st Century.
To your success,
Sylvia Lafair
PS. You can start examining behavior patterns and changes needed for the 21st century by reading “Don’t Bring It To Work.”
