What can leaders learn from Rupert Murdoch's retirement?

What can leaders learn from Rupert Murdoch's retirement? | practice | New employee's journey doesn't end when they're hired Created for {EMAIL} | [{NAME}]( at [{NAME}]( [For more relevant content - Update Your Profile]( | [Web Version]( September 26, 2023 CONNECT WITH SMARTBRIEF  [LinkedIn]( [Facebook]( [Twitter]( [SmartBrief on Leadership]( Innovative Ideas. Ahead of the Curve. [SIGN UP]( ⋅ [SHARE](  [] Leading the Way [] [What can leaders learn from Rupert Murdoch's retirement?]( [What can leaders learn from Rupert Murdoch's retirement?]( Rupert Murdoch and son Lachlan Murdoch (Drew Angerer/Getty Images) As 92-year-old Rupert Murdoch, the chairman of Fox Corporation and News Corporation, steps down and hands control to his son Lachlan, the move has many vital lessons on succession, including how critical planning is along with clearly communicating expectations to a successor but understanding that a new leader will want to make their mark on the company moving forward. "With Lachlan being groomed as Rupert's successor for a long period of time, the expectation may be that Lachlan will stay the course and not change what has been built," says Laurie Barkman at Carnegie Mellon University Tepper School of Business. Full Story: [Forbes (tiered subscription model)]( (9/23) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] Put it into practice: PWC's 2021 Family Business Survey found that only 34% of companies have a clear and documented succession plan and a lack of one can lead to financial instability in the event of a CEO departure. "Having a well-defined succession plan is crucial for the stability and future of any business," [says Marshal Davis](, president of Ascendly Marketing. News. Without motives. Sick of the news? Join the other 2.8 million Americans and sign up for 1440 for free today. The #1 daily newsletter for unbiased reporting. [Sign up now](. ADVERTISEMENT: [] SmartBrief on Leadership [] [New employee's journey doesn't end when they're hired]( [New employee's journey doesn't end when they're hired]( (Andrii Yalanskyi/500px/Getty Images) Retaining employees needs to be a long game that starts before they're hired and continues for the duration, author and consultant Alaina Love writes. Connect people to purpose, develop an intentional onboarding and support process, pay them fairly and help them grow, Love says. Full Story: [SmartBrief/Leadership]( (9/25) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] Put it into practice: Have the CEO drop a line to each new hire to share how important their role is to the company's mission, or ask a handful of new colleagues to reach out via phone to greet them enthusiastically before they start. [Show an ongoing commitment]( through mentoring, professional development and clear growth tracks, Love writes. [] [Read more]( from Alaina Love on SmartBrief on Leadership [] Smarter Communication [] [When faced with problems, "move fast and fix things"]( When something at work needs fixing, don't take months or years, "which tends to be our default timeline for solving hard problems," says leadership expert Anne Morriss. A Monday through Friday action plan -- starting with framing the problem as a question and ending with handing the solution to employees -- shows urgency and "makes it clear to everyone that you take the problem seriously," Morriss explains in a TEDTalk. Full Story: [CNBC]( (9/20) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] Put it into practice: Reframing the problem as a question tells you who you need to talk to. On Tuesday, develop a plan that's good enough, and on Wednesday, present it to several diverse people for feedback and [tweak as necessary](. Thursday involves building a story around the issue to help colleagues move with the change, Morriss says. Free eBooks and Resources Free eBooks and resources brought to you by our sponsors - [Nonverbal Communications Skills -- The 10 Skills You Need to Learn]( - [70+ Excel Keyboard Shortcuts for Windows (Free Cheat Sheet)]( - [Best Practices for Email Etiquette]( - [11 Habits That Will Give You A Complete And Successful Life]( - [Creating Positive Habits - The Ultimate Guide]( [] Smarter Strategy [] - [Corporate strategy must be built around continuous adaptation]( Business Chief North America (9/25) [] - [What to do before product-led growth stalls]( Harvard Business Review (tiered subscription model) (9/22) [] - [How radical collaboration can fuel company innovation]( Big Think (9/20) [] SmartPulse [] How well do people in your organization respect confidentiality when dealing with other organizations? Extremely well: we never disclose someone's information to a third party 46.85% Very well: we occasionally slip and accidentally disclose information 28.83% Well: we keep sensitive information confidential but sometimes share other topics 18.02% Not well: we have a hard time keeping information confidential 3.60% Poorly: we routinely share confidential information that shouldn't be shared 2.70% [] Keeping things quiet. Seventy-five percent of you report that your organization does a good job of keeping information about others confidential. Unfortunately a large group of you report that your organization is less than secure about keeping confidential information quiet. These "loose lips" can have catastrophic impacts. You might expose your organization (or yourself) to lawsuits, ruin relationships and create a bad reputation for yourself. Even the most innocuous-seeming information can damage the other party. You might not think it's a big deal to disclose that you got a great discount on something you bought but now you've put your supplier in a pinch when their biggest customer finds out about your discount and demands the same level of pricing. That's a simple example of how disclosing information can be damaging. So the next time you're inclined to share something about another party, pause and ask if sharing it is really necessary. It usually isn't. If it's not necessary, simply keep quiet. -- Mike Figliuolo is managing director of [thoughtLEADERS](, which includes TITAN -- the firm's e-learning platform. Previously, he worked at McKinsey & Co., Capital One and Scotts Miracle-Gro. He is a West Point graduate and author of three leadership books: ["One Piece of Paper,"]( ["Lead Inside the Box"]( and ["The Elegant Pitch."]( [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] When you see a peer being wildly successful, how do you usually react? [Vote]( [I cheer them on and am genuinely happy for them]( [Vote]( [I'm happy for them but I get jealous or competitive]( [Vote]( [I feel afraid I'll get left behind and get more competitive]( [Vote]( [I actively try to slow their progress so I can catch up]( [] In Their Own Words [] [Top leadership lessons from 2 female CEOs]( Leaders can understand the needs of their employees better if they embark on a global listening tour and seek to get at the true concern underneath staff questions, say Foot Locker CEO Mary Dillon and Wella Company CEO Annie Young-Scrivner, who recently appeared on a leadership panel together. The pair also emphasized the importance of diversity, as well as releasing perfectionism as a leader because, as Young-Scrivner noted, "if you're perfect, no one wants to help you, so show some of that authenticity and show that you need help." Full Story: [Women's Wear Daily]( (9/19) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] Daily Diversion [] [Jellyfish with no brains are quick learners]( [Jellyfish with no brains are quick learners]( (Pixabay) Some jellyfish can learn and change their behavior despite not having a central brain, according to a study of Caribbean box jellyfish published in Current Biology. The animals, whose nervous system consists of four rhopalia that have nerve centers and six eyes each, were able to detect obstacles in a tank and adjust their behavior to avoid them within minutes, suggesting that learning does not require a complex nervous system. Full Story: [Science News]( (9/22), [Nature]( (9/24) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] Most Read by CEOs The most-clicked stories of the past week by SmartBrief on Leadership readers [] - [Questions to ask before starting a 2024 business plan]( SmartBrief/Leadership [] - [Rely on strengths to succeed as an introverted leader]( Lighthouse [] - [Why being "top dog" doesn't mean constantly growling]( Big Think [] - [Tap your self-awareness to be a better leader]( SmartBrief/Leadership [] - [Eliminate muttering and cynicism by protecting your team]( Triple Crown Leadership [] SmartBreak: Question of the Day [] Kongo Gumi, a construction firm established in 578 AD, is known as one of the oldest businesses still in operation. Not quite as old, but which one listed here is oldest? [Vote]( [IBM]( [Vote]( [Nintendo]( [Vote]( [Rolex]( [Vote]( [Wells Fargo Bank]( [] Editor's Note [] [OpenAI's Zack Kass to lead off AI Impact Summit]( [OpenAI's Zack Kass to lead off AI Impact Summit]( (SmartBrief) SmartBrief's inaugural virtual [AI Impact Summit](, Sept. 27 to 28, will feature OpenAI's Zack Kass as the opening keynote speaker. The event will explore business, marketing, tech and other topics, such as AI and digital trust, developing a generative AI product, a marketing case study and a talk with AI for the People's Mutale Nkonde, who sits on the TikTok Content Moderation Advisory Board. Full Story: [SmartBrief/Marketing]( (8/15) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] About The Editor [] Candace Chellew Candace Chellew Chellew [Rupert Murdoch's departure]( from Fox at 92 is part of a growing trend of older CEOs staying in their jobs longer. Other senior executives still on the job include 87-year-old Carl Icahn, 81-year-old Michael Bloomberg, 72-year-old Bob Iger at Disney and 78-year-old Larry Ellison at Oracle. Ageism is still a problem in the workplace, and experts suggest that [if CEOs are sticking around longer](, it's a chance to take advantage of all that experience and wisdom. Older and younger workers should be mentoring and learning from each other. As for boards, they should not consider age, says Jim Citrin, head of Spencer Stuart's North American CEO. "Use passion, energy level, health, vitality, adaptability, motivation," Citrin says. What's your opinion? Should age play a role in how long an executive sticks around? [Let me know your thoughts](mailto:candace.chellew@futurenet.com). If this newsletter helps you, please tell your colleagues, friends or anyone who can benefit. Forward them this email, or [send this link](. What topics do you see in your daily work that I should know about? Do you have praise? Criticism? [Drop me a note](mailto:candace.chellew@futurenet.com). And don't forget to send me photos of your pets, your office and where you spend your time off. [LinkedIn]( [Twitter]( [Facebook]( [Email]( Sharing SmartBrief on Leadership with your network keeps the quality of content high and these newsletters free. Help Spread the Word [SHARE]( Or copy and share your personalized link: smartbrief.com/leadership/?referrerId=japnABMSAp [] [] The two things vital to success -- how to sense approaching danger and how to be flexible. [Gita Mehta](, writer, documentary filmmaker 1943-2023 [LinkedIn]( [Twitter]( [Facebook]( [Email](   SmartBrief publishes more than 200 free industry newsletters - [Browse our portfolio]( [Sign Up]( | [Update Profile]( | [Advertise with SmartBrief]( [Unsubscribe]( | [Privacy policy]( CONTACT US: [FEEDBACK](mailto:leadership@smartbrief.com) | [ADVERTISE](mailto:lengel@smartbrief.com) SmartBrief, a division of Future US LLC © Full 7th Floor, 130 West 42nd Street, New York, NY, 10036