Over the last fifteen years, the average age of a CEO has increased and the average age of first becoming a board director has become 48 – an increase of 10 years since 2010.
These are quite dramatic changes and there is a good reason why it can build a sustainable business. As good as anyone maybe, older executives (above 40) generally become better at talking than doing. They possess experience and knowledge but naturally becoming that much less able to do the doing with each passing year. Ask yourself the honest question – are you as good today at doing as you once were?
It is not a surprise that often younger leaders, throughout history, have been the ones who have often galvanised peoples and created the most change. It is rarely older leaders. There is little need for more talking. There is a need for active leadership. With the healthier state of ageing leaders, the real question should be – how do we create an effective marriage between generations for we failed so far to achieve anything effective?
It is the duty of leaders to invest once again in talent, to empower and enable them.
Bar which is simply not healthy for any organisation. Many talk about the importance of sustainable business and this means not just investment in environment but investment in people. It is the duty of leaders to invest once again in talent, to empower and enable them. It is a duty of leadership and not the luxury which it has been described as. In the noughties, there was a school of thought who argued that CEOs needed to focus on their stakeholders, not their people. This was wrong on a whole number of levels and rooted in real problems.
One can blame the rise of VCs and greater levels of investors but the truth is that many placed profit before building a strong business. Good business needs solid pillars of which one has to be its people.
2021/22 marks a period of change. It is being demanded and there is a genuine movement beginning to take place which recognises the importance once again of enabling talent.
It could be a very interesting period of time.