Leadership is a topic I’ve spoken and written about extensively. Today, I’d like to address a rarely discussed aspect: when and why a leader should step down.
Leaving as a leader is never easy. The timing never seems right. Departing during tough times feels like abandonment and you don’t want to leave when things are good. There’s never a perfect time for a C-suite leader to move on, which might explain why so many leaders—from tech companies to high-ranking government positions—find it difficult to do so.
After decades of hard work, reaching the peak of your career brings prestige and power. You may also find your identities intertwined with your roles. Stepping away, or even slowing down, can feel unfamiliar—almost like an identity crisis. Who am I if I’m not [insert your role here]?
That’s a serious question, but there are other important ones leaders should ask themselves during the later stages of their careers to help ensure they leave on a high note. Here are a few to consider:
- Happiness Check: Are you still finding fulfillment and joy in your role? Are you learning and feeling challenged?
- New Opportunities: Is there a unique opportunity on the horizon that may not come again? Or, is there a role you’d accept immediately if offered? If so, why aren’t you pursuing it now?
- Succession Readiness: How solid is your succession plan? Is your top candidate ready to step into your role? Or might they look elsewhere if you delay too long?
- Milestone Markers: Are there specific company milestones you want to achieve before leaving, like integrating a major acquisition, launching a new product, or completing a long-term project?
- Fresh Perspectives: With the world changing so quickly, could your company benefit from a new leader with fresh ideas? And could another organization benefit from your experience and insights?
Deciding to leave doesn’t have to be an abrupt decision. With careful planning and open communication, leaders can create a transition plan that benefits themselves, their teams, and the company.
The real issue isn’t the act of leaving itself, but the culture we’ve created that stops us from thinking about it and planning for it. By changing this mindset, we can create a more positive and productive approach to leadership transitions that benefits everyone involved.
In your experience, what are some signs that it might be time for a leader to consider moving on, even if things are going well? Let me know in the comment below.