When to Step Down from Your Leadership Post in the Company
Aspiring to be on top of the leadership ladder is easier than deciding when to leave your post. When you’re already there, it’s hard to let go. You have all the power and influence in your company and you don’t want it to be taken away. However, at some point, you should give the chance to someone else. Here’s when you know it’s the right time.
You’re getting older
Let’s face it. You don’t have all the time in the world to reign supreme in your company. You’re getting older and you need someone else to manage the business. Besides, at that stage in your life, you want to be with your family. You also want to do other things you’ve never done before because you were always busy. You’re letting go both for yourself and for the company. It’s a selfless act that needs to happen.
Your health is on the line
Having the entire company on your shoulders isn’t easy. It can be burdensome. There are nights when you can’t sleep well because you worry about the company’s trajectory. You also worry that you’re not making the right decisions. At some point, it can adversely affect your physical and mental health. If you start feeling that way, you need to let go. Protect yourself first more than anything else. You love the company and you were there when it was built from the ground up, but you can’t kill yourself for it. Besides, there will always be someone else who is capable to do the job. Let this person lead while you focus on getting better.
You don’t like where the industry is heading
You should also look at the trajectory of the industry and see if you can still steer the business in the right direction. For instance, Apple has revolutionized the smartphone industry. Other companies were able to catch up, but many failed. You don’t want to be among the leaders who decided to keep things the same and pulled the company down. You must place someone in power who will cope with these changes and allow the company to remain competitive.
You’ve found someone who will do an excellent job
It’s hard to leave the business behind if you’ve already spent decades of your life leading it. You treat it as your own child. The only way that you can let go is if you have found someone else to lead the team. This person knows the industry well and has also been in the company for a long time. If you’ve mentored someone else to take the throne, it’s even better. You will be confident about stepping down since the business is in good hands.
It’s never an easy decision to let go of your post, but it’s necessary. The company must strive whether or not you’re around.
Photo Attribution:
1st and featured image from https://www.liveabout.com/thmb/5kKG-0-D28s-jfbNcVMT8n-OvTc=/1500×0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-stressedmanager-5835ab405f9b58d5b14d43fe.jpg
2nd image from https://www.forbes.com/sites/forbescoachescouncil/2021/11/03/the-leadership-secret-leaders-often-forget/?sh=76f6e3dc58af
