Even as retirement approaches, CEOs can learn, grow and make changes that make a difference.
By Scott McClymonds 
A good friend of mine is CEO of a small community bank, and has done some remarkable things with it. He sees retirement on the very near horizon, and is reluctant to make any changes, even if they make perfect sense. He uses phrases like, “I'm on cruise control,” and, “Our model works great and I don't see a need to make any changes.” This is not the first time I've heard this theme. Not long ago the operations manager of a bank told me, “I like your proposal and it makes sense. However, many members of our team are retiring in the next five years, and I think it would be hard to get buy-in to your changes.” As a consultant and coach I face this issue frequently. For example, 80 percent of bank executives don't think their banks need to be data-driven. Of course my response is, “How can you not improve with a better understanding of your members and markets?” Let's really zoom out now to a bigger picture issue. If you are a CEO, you owe it to your team to keep growing and developing yourself because their livelihoods and careers depend on a high level of engagement from you. If you go on cruise control as you start to see the runway lights of retirement approaching, it demoralizes the people below you who want to do great things for the credit union. I remember this phenomena all too well from a previous employer. My peers and I offered up innovative idea after idea, only to be rejected by senior managers who were approaching retirement. Many of us threw up our hands and thought, “What's the point?” It doesn't have to be this way, though. I run across plenty of credit union CEOs near retirement age who are still going into each day, guns blazing. They're looking realistically and unselfishly at the needs of the organization as they near their departure, and are continuing to innovate and develop the people around them. Cruise control is dangerous to an organization and, in my opinion, selfish. I understand folks have paid their dues, are perhaps burned out, and are looking for a transition. That's normal and understandable. However, when I consider such people as Moses, Ronald Reagan, Peter Drucker (all of whom made big contributions late in life), my encouraging word is, despite your proximity to retirement age, you have not yet reached your potential, and still have much more to contribute. Instead of looking at the runway and putting your feet up, use your experience to grow, innovate, and develop those around you. Scott McClymonds is principal of CEO Velocity Consulting and Coaching and an expert at helping credit unions acquire and retain profitable members. He has expertise in financial services leadership, business intelligence, and strategy development, and recently authored “Six Ways to Maximize Executive Performance.”Reach him at 479.263.0774. Mid-level managers shouldn’t go on cruise control either. Read more about engagement for this group in “Leadership Matters: The Power of the Middle,” also by Scott McClymonds. CEO/Executive Team Network is a perfect place for seasoned CEOs and their up-and-coming executives to hear great speakers and learn from one another. This year's event will be Oct. 23-26 in Savannah, Ga.
