Why It’s So Hard for Leaders to Let Go

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Why It’s So Hard for Leaders to Let Go

By Rob Lachenauer | Inc Magazine | July 8, 2024

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Why is it so hard for some of the world’s most powerful leaders to pass on the torch?  Succession across any generation can be done well (which largely goes unreported) or disastrously (which makes juicy news). But succession is never simple. What separates succession success from failure? One of the most important factors is the incumbent leader’s ability to let go.

For leaders whose identity is inextricably intertwined with their work, that’s no small feat. That’s partly because of the trajectory of a powerful career. While leaders may feel consistent growth and impact during the years, those who rise to the very top often hit an important inflection point toward the end of their career–a high-impact zone when they are the top dog–CEO, managing partner, or possibly president. It’s then when leaders can have the largest and most lasting impact on the people, institutions, and communities they care deeply about.  But at the same time, leaders at that apex also sense that the clock is ticking on how much time they have left to make that impact. With the opportunity to make a lasting impact and not much time, the urge to control what they care so deeply about becomes profound.

It’s all about control.  Control can manifest in two forms: negative and positive. On the negative side, we know leaders who believe they can find ways to continue to control the people, the direction, the priorities, and values of the institution–even after they’re gone. This control often manifests in positional power–“I will not give up my seat”–even when it’s clear that a younger leader might be best for the institution.  Trying to find ways to extend such control is most often highly destructive, not least because it takes away the agency of the next generation of leaders to lead the institutions in the manner they see best.  If the leader holds on too long, they tend to become increasingly isolated, limited to a few family members and advisers who have a stake in the leader’s holding on to power. None of this is the recipe for a healthy, enduring family business in the long run.

By contrast, the most successful leaders direct their psychological need for control to things they can positively control: themself, their boundaries with others, and their job. This is not referring to a particular job title, but “job to be done,” which involves deep insight into what problem or struggle customers most need help solving. That’s not necessarily the same as what the leader most wants to do. The best leaders we see actively choose to retool what they care about at the end of their careers in a way that offers the most value to their customers.  Successful succession requires leaders to give up what they care most about.  Such leaders reset boundaries with others. They see the value in letting the next generation of leaders find their own path. If the leaders have mentored well, the next generation will be fine. 

Finally, in contrast to holding on to their seats, successful leaders change their jobs. They can continue to add enormous value to the institution they care about, but perhaps from a different vantage point. These hyper-successful people often are unrelenting problem solvers, whose skills can be channeled into other important roles. As life proceeds, leaders must reconsider and renew who their most important customers are and what job their customers hire them to do. 

3 key takeaways from the article

1. Why is it so hard for some of the world’s most powerful leaders to pass on the torch? Succession across any generation can be done well (which largely goes unreported) or disastrously (which makes juicy news). But succession is never simple. What separates succession success from failure? One of the most important factors is the incumbent leader’s ability to let go.
2. It’s all about control.  Control can manifest in two forms: negative and positive.  The most successful leaders direct their psychological need for control to things they can positively control: themself, their boundaries with others, and their job.
3. Successful succession requires leaders to give up what they care most about.  Such leaders reset boundaries with others. They see the value in letting the next generation of leaders find their own path. If the leaders have mentored well, the next generation will be fine. 

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Topics:  Family Business, Success, Leadership