What a striking contrast. Lloyd Blankfein of Goldman Sachs; Jamie Dimon from JP Morgan Chase; John Mack of Morgan Stanley and the newest member of the club Brian Moynihan of Bank of America testifying before the Financial Crisis Inquiry Commission earlier this month. For some inexplicable reason they still appear unable to grasp nor fully accept responsibility for their failures in managing America’s financial system. Too big to fail has metaphorically speaking become “stuff happens”.
Meanwhile some six blocks away from the Capitol, Washington Wizards superstar Gilbert Arenas was pleading guilty to one count of possession of a firearm without a license in Washington, DC Superior Court. While it’s doubtful any one of them wanted to sit before a Commission or a Superior Court Judge, at least one person was now being held accountable for their actions. AT&T, Gatorade, Accenture, General Motors, Gillette and other firms drop professional golfer Tiger Woods as spokesperson or promotional star for their products and services following his admission of infidelity. Tiger takes a respite from the game. Washington Redskin’s Head Coach Jim Zorn promptly loses his job after the team’s last regular game of the 2009 NFL season. With two years of poor showings by the team, Zorn was accountable. Former Senator John Edwards, after years of head fakes, dodges and double pump denials finally acknowledges his paternity for the offspring born of his adulterous relationship several years ago.
2010 it seems has announced itself as the Age of Accountability.
And why not? It’s fair to say that we have been through a wicked couple of decades in which personal responsibility for failure, malfeasance or simply bad behavior was freely and recklessly assigned to others. Whether it was football stars denying responsibility for murder, dogfighting or gun-play, a President denying an adulterous relationship or the reality of trading arms for hostages, Congressmen admitting inappropriate relationships with various aides and staffers or a small coterie of Governors seemingly gone wild, it has been quite a spectacle. The rationale and denials grew increasingly bizarre, increasingly public and increasingly pathetic. Our country’s sense of decency and demeanor seemingly was on holiday. You couldn’t help but wonder, “what is wrong with these people?” Oh, right, they’re human.
As leaders, there is a fundamental truth that underlies all of these actions. Simply put, when you, your membership, or your organization “mess up, fess up”. Nothing destroys a leaders credibility more than being caught in a cover-up. As most of us have learned “your word is your bond.” You get in more trouble trying to hide a mistake, than you do acknowledging it, apologizing as necessary and going about the business of making things right. Stepping up allows you the opportunity to fashion a solution. While making the essential apologies you also are able to point a way to the future. Rather than diminish your standing, demonstrating your leadership in a crisis serves to strengthen it. Failure, like accountability is a fact-of-life for leaders. Savvy ones use the opportunity to build character anew, leverage time for introspection and renew the will to persevere. How about you?
Great post Kerry – yes, it is time for accountability and while we are at it – let's throw transparency into the mix as well