The Amazing Power of Decency
It’s a common question when interviewing executives… ‘Describe your leadership style’. It’s an open-ended, full-of-opportunity, potentially-a-trap type of request but at the same time it is a good request. Like many, I’ve never really known how to answer this question well. I’ve managed small to large teams, run large divisions, led business transformations, managed geographically diverse organizations and remote working teams. There really isn’t a single leadership style that works in all those situations. One has to tailor their style to the situation of the company, organization, and broader environment. The best way to describe leading well across all these situations is to never underestimate the power of decency.
Decency is defined as behavior that conforms to accepted standards of morality and respectability. When applied to an individual, decency conveys the personal qualities of honesty, respect, and good manners. When you are decent to people you build trust which over time leads to respect which over time leads to people being willing to join your business endeavors, even if they have some hesitation or incomplete information. So why is this so hard for people to do? Why is it hard to be decent?
Different cultures will have various standards of decency and as a leader you cannot assume that your personal definition is that of everyone in your company. Being decent requires both courage and vulnerability. Many executives, however, view vulnerability as a weakness. What are the ways leaders can be decent without feeling like they are being weak? Here are three ways:
1. Define and demonstrably live your company values. Company values are helpful to craft a common language and focus for decency. You should ensure your company and organizations have these; that employees understand them; that they see them in action consistently with the leadership team; and that they see everyone consistently held accountable to these values.
2. Demonstrate decency by being calm in the face of crisis; respectful of people (even when they don’t agree with you); listen with an open mind; and speak factually and frankly. This is a contemporary form of executive presence.
3. Own your missteps and make them right. We all have bad moments and bad days. No one is their best self 24x7. When you realize you’ve not been as decent as you’d prefer, take responsibility. Acknowledge the situation; clarify the outcome in a more decent way; apologize for any confusion or negative interpretations of your activities. Then move on and continue to do better.
Decency in action is critical for all executives and business leaders so let’s look at a couple examples. Mastercard CEO Ajay Banga applies decency to his decisions and notes that the ‘decency quotient’ or DQ is as important as IQ or EQ. In this FastCompany article, Banga is clear that although profitability cannot and should not be ignored, decency is a required skill to confront anxiety and mistrust of employees and customers.
Another example is Bank of America CEO Brian Moynihan. Moynihan’s tenure has included a transformation of the financial services sector, resulting in a need to significantly reduce headcount. In this article, he explains how the company made this headcount transition in a humane way. And with the current, fluid and often terrifying Covid-19 situation in the world, Moynihan and his leadership team again demonstrated decency with an approach that was balanced and as thoughtful as possible given the extreme uncertainty. His interview with Barron’s is a worthwhile read.
IQ + EQ + DQ is the trifecta of executive success. It is not that difficult to be decent and profitable. It does take courage to be both, and the risks are worth it.
