What Legacy Will You Leave Behind?
Updated: Dec 22, 2020
In most organizations, financial performance is a key measure of success. It guarantees their survival, enables investments, and keeps investors flocking. Yet, research shows that 35% of a CEO’s legacy is defined by financial performance, with the remaining 65% by non-financial criteria. Stakeholders, employees are not entirely creatures of logic. Emotions often take the lead, including in the apparently most rational decisions. Let’s focus on employees. Sure, a job is a breadwinner, and employees prefer to work in a well-managed, successful business that in an ailing one. Yet, it doesn’t mean that they enjoy working for brilliant robots. What makes them tick, what gives them the positive energy is not (only) a brilliant annual report – most of them don’t even read them – but a sense of using their full potential, growing their skills, working on and for something that makes sense, bonding with inspiring people and being recognised, not only financially. This requires a certain culture. Leaders have a role to play in establishing a culture of trust and commitment vs. a culture of fear and obligation. Not only through polished corporate communications, but by being role models. What legacy will you leave behind?