In recent weeks I have been doing some leadership development consulting and coaching. The goal of this work has been mainly to help the leaders to build their emotional intelligence and then generally their self awareness of what is driving the decisions they are making.
Typically, most leadership development work of this kind focuses on the person’s behaviors, experiences, the influences of the environments they are in and have come from, their skills and knowledge, and even their states of consciousness. All with the goal of helping the leader understand themselves better and becoming more empowered. Then there is also training on specific leadership methodologies and strategies. None of these factors are to be underestimated as being unimportant, because they all are.
However, there is one factor often missing from the discussion — and that is money. The reality is that the topic of money is missing from the coaching agenda full-stop. Why? Talking about money can be a very emotionally charged issue for both the leader and the consultant/coach. Many people are, when it gets down to it, mystified by money and the power of its impact.
The reality is, money is directly or indirectly wrapped up in some way with every decision that a person makes, and is therefore a very powerful influence. Leadership decisions are no different. You only have to look at some of the decisions made by leaders in the last 10 years and see the devastating outcomes resulting in spectacular corporate collapses, insider trading, bankruptcy. Also, the great corporate performances can be attributed to a healthy money attitude.
Yes, money can be the carrot to incentivize performance, but it can also be the driver of warped decisions. Let’s not say all of the bad decisions are deliberate because they are not. Some of them are caused by blind spots or put in another way, a simple lack of awareness.
Nevertheless, the point is that your perspective on money, whether conscious or not, influences your leadership – the decisions you make, the goals you set, action plans, how you manage yourself and others and so on.
So, reflect on how your leadership is influenced by money. Perhaps understanding your own relationship to money will improve the quality of your leadership, corporate results, and ultimately your life.