Thursday, July 18, 2013

Pedro Baranda of Otis Elevator: three beneficial outcomes if leaders delegate

From Pedro Baranda, president of Otis Elevator Corporation, as told to the New York Times' Adam Bryant:

The main mistake I tended to make — and probably still do sometimes — is that because I’m an engineer, I like to get into the details of things. So I got some feedback about it early on, such as, “Let me do my job.”

That was an important lesson, because if you want to develop leaders and not followers, one of the key things you have to learn to do is delegate. One of my bosses once told me: “You’ve got to delegate because there are only three possible outcomes. You tell them what your expectations are, and if their solution is better than yours, that’s fantastic. If the solution is the same as yours would be, then it’s fantastic, too, because at least you didn’t have to do it. And if it’s not as good as you expected, you can always take the time to teach them why and what to do differently. That way, you will have learned about the person and the person will have learned from you.”

That lesson about delegation is fundamental if you want to develop leaders and not followers. I heard an expression from one of my business professors — that talent flow is the best predictor of future cash flows — and that has stayed with me.

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