Passing the baton with confidence

Dropping our children off at college the first day of their freshman year was a bittersweet, heart-wrenching experience. Within the cocktail of emotions, one sensation overwhelmed me each time: The feeling of hanging on with clenched fists and all my might. I did not want to let go of them or their childhood or my role in their life.

It felt cruel and unjust. I had just devoted 18 years of blood, sweat and sleep to raising them — the people I love most in the world — into honest, hardworking, kind, generous, ambitious young adults. How dare they go and leave me forever? But of course I quickly learned, as most parents do: They were not leaving me. They still needed me. Our roles were just beginning to change. In a good way!

I liken my feelings around those experiences to what is happening right now as Mike and I have just passed the baton at Dixon Schwabl to our new CEO and president, Kim Allen and Jessica Savage. Except that now I am more confident and secure about each of our new roles and how they will evolve going forward. In a good way!

I suspect my cheery confidence might be unusual. Because for outgoing leaders, the transition can be an intense period and many have a hard time with it. So I’m especially grateful to be feeling pretty OK right now.

Given the record number of baby boomer business owners retiring or passing on their business in the next few years, I thought it would be timely to share some thoughts about why I’m in such a positive frame of mind. Because while there are plenty of articles about succession planning and maintaining workplace culture during leadership transitions, including ones I’ve written for this space, there aren’t many from the perspective of the emotional challenges facing the outgoing leaders.

There should be. Because ideally, when done right, the people passing the baton feel a huge sense of pride, accomplishment and optimism. Like watching your children cross the stage on graduation day. Confident your successors will continue to grow and strengthen all you have worked so hard to build over the years. So here are a few suggestions based on my recent experience.

Give it time

By “give it time,” I mean taking the time to both craft a thoughtful succession plan and give yourself time to mentally prepare and adjust to the idea. I think my glasses are so rosy right now because we took the time — 15 years! — to strategize, design, vet, communicate, refine and implement a phased succession plan.

During those years, we collaborated closely with our managing partners, outside consultants, family and team members. Experts suggest taking at least five to seven years to work out the kinks, with small steps along the way. Pause frequently to survey and measure how things are working and how people are feeling. Involve a broad group of team members in the process and be prepared to revisit and revise each aspect of the plan. Doing so increases your chances of feeling positive about the future of your company and your role in it when the transition day comes.

The second part of taking time is not rushing through the emotions you feel about letting go. Kind of like with the stages of grief, you need to recognize, fully experience and work through each phase to move on. Embrace the opportunity to stay in the moment, reflect and savor your accomplishments — and reimagine your future.

Redefine your role

I suppose it’s easy to look forward to the next chapter when you’re excited about its characters and plot development. But it’s funny how little thought we give to preparing for our retirement role compared to our retirement income. And without careful thought and definition, you may feel uncertain and anxious about everything from your identity to your daily routine, interactions and even lunch plans.

So whether you stay involved in the company as a mentor, individual contributor, subject-matter expert or in another capacity, you should clarify your new role. It will be an evolution of your identity and an opportunity to create new routines and redefine relationships. In a good way! Remember: Endings are also beginnings, and when we close doors, we open windows.

In fact, it might help to know the transition will go more smoothly if you have a continuing role in the company, even a small one. Staying on is valuable to the business, your clients and customers, your employees — and, of course, your sense of self. So think about how you want to shape your new identity and how you want others to see and relate to you.

At Dixon Schwabl, Mike and I will step into chairperson roles. We will consult with team members and clients as needed, assist with new business pitches, lead our Community Giving & Foundation activity and spend more time advising, supporting and serving on local nonprofit boards.

For each of us, it starts with our purpose, passion and the legacy we want to leave. How can you best achieve yours? By mentoring younger team members or people in the community? Helping the new leaders grow the business? Serving on the board? Contributing alongside other talent? Starting a new department, offshoot or subsidiary?

As you visualize your new identity, you will identify opportunities that will be rewarding for you, your family, the community and the business — one, two, three or all four at once. However you reimagine your role, chances are you will rediscover and reignite some of the fire and drive you had when you first started out. While also creating a second act or “legacy career” within or outside of the organization.

Either way, be prepared for your relationships to evolve, as well. You will need to find a balance between being available for advice and consultation — when asked — and stepping aside to let the new leaders lead. It’s easy to fall or even jump into your previous roles automatically or despite your best intentions. Kind of like those times we have to hold back as parents to allow our grown children to be the capable adults they are, spread their wings and do things their own way.

Go away for a while

Michael Bush, CEO of Great Place to Work, told us to go to Europe for a month starting the day of the leadership transition. Well, COVID-19 prevented that, but we will not step foot in the agency and will stay off the radar for 30 days. (I make it sound easy. Trust me, it’s not.) This forced separation is to give Kim and Jess the full opportunity to settle in and establish themselves as the new leaders without confusion.

While it’s tough to resist the temptation to check in, I understand the value of staying away and actually think it’s contributing to my positive feelings: I’m super excited to rediscover my hobbies and interests outside of work. And even more excited to return in a month to see all the wonderful developments I know will have blossomed under new leadership.

I think my internal struggles and conflicting emotions demonstrate how very personal the experience is for each person “passing the baton.” Each of us needs to think through it deliberately, well in advance, to craft and prepare the appropriate mindset for the transition. Putting it off, denying and avoiding thinking about it is natural and easy.

But after putting so many years into your business — in our case, 33 — and thought, strategy, blood, sweat and sleep, you owe it to yourself and your legacy to wind it down with at least as much attention and energy. The time and thought you spend up front will pay dividends in peace of mind going forward.

Lauren Dixon is CEO of Dixon Schwabl Inc., a marketing communications firm, which has been honored as a Best Place to Work.