O P I N I O N
O K, I admit the title of my article was meant to get your attention in these political times. While not labeled impeachment within a business setting, there are times when we may all face the decision as to whether or not leadership within the firm needs to be removed. If you are within the leadership group of your company, there are times when you may need to purge your leadership team to move forward.
Leadership changes due to poor financial performance or company scandals are reported all the time for large corporations that have big brand names to protect. Although our profession may seem to be immune, if you are within the leadership group of your company, there are times when you may need to purge your leadership team to move forward. The reasons to replace members of firm leadership are varied. Embezzlement of funds or sexual harassment claims – these are easy to confront and act upon. The more difficult failures may be subject to interpretation or perception, such as failure to lead. Of course, failure to lead involves a long checklist. These 10 are at the top of my list in evaluating whether or not a leader or partner must go: 1) Inability to motivate. At both the individual and
team level, a good leader must be able to motivate his or her staff. Poor morale typically is the result of failure to mentor, communicate, and evaluate performance and productivity. 2) Lack of a strategic course. If your leadership team cannot articulate the firm’s course over the short- and long-term, you will hinder your growth and success. In addition, leaders must engage others to understand and implement those strategies that enable the firm to stay on course. 3) Failure to be accountable. Do you kick your firm’s problems down the road? Many do, and this failure to take action to address and correct those problems only worsens over time. A strong leader knows when to step in, advise, and act. 4) Loose fiscal policies. Carefree spending, poor bookkeeping, favoritism in terms of rewards and
See STEPHEN LUCY, page 10
THE ZWEIG LETTER March 16, 2020, ISSUE 1336
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