MMM Newsletter and Website Header 10.2.15

By Adam Rubenfire

The pontiff has been dubbed a turnaround artist on the level of Apple Inc.’s Steve Jobs and International Business Machines Corp.’s Lou Gerstner by the Economist magazine. He has worked miracles in steering a bloated bureaucracy-ridden with scandals and a decline in followers, according to his admirers. Jeffrey Krames, a Chicago-based author, was so inspired by the Pope’s leadership that he decided to write a book on the topic, Lead with Humility: 12 Leadership Lessons from Pope Francis. So, how do you lead like a pope? Here are four lessons from the book:

1. Be humble

Pope Francis has written that humility is one of the most important qualities a true leader should possess. But it’s not enough to act humble: Francis says it has to be authentic. Krames writes that the Pope has consistently put himself on the same level of his followers, and notes that business leaders like former eBay Inc. CEO Meg Whitman, now chief of Hewlett-Packard Co., and former Travelocity CEO Michelle Peluso, now head of online fashion retailer Gilt Groupe Inc., have done the same by ditching corner offices for the commoner’s cubicle. “There’s plenty of room for CEOs to become far more humble,” Krames said in an interview, noting that the Pope isn’t anti-capitalist, but likely thinks the wealthy could be more charitable.

2. Have an open mind

Pope Francis’s motto is “people first, and then everything else follows,” according to Krames, who writes that the Pope’s career has been much less about holding Catholics to the age-old tenets of their faith and more about serving people. For example, though previous popes have ceremonially cleansed the feet of only Christian men, Pope Francis has washed the feet of both men and women of varying faiths. Krames writes that the Pope has refused to judge individuals that would otherwise have been shunned by the Church, including the LGBT community. He notes that good leaders don’t talk down to their followers — rather, they engage in open dialogue: “It is important, says Francis, not to deliver a monologue when speaking with your people and to take into account the changing nature of our culture,” Krames writes.

3. You can’t do everything from your desk

Pope Francis thinks the Church should be run like a military field hospital, Krames writes, in that leaders can’t just stand idly at the altar. “He doesn’t want pencil pushers,” Krames says. Similarly, he writes that great businesspeople spend time in the field getting to know their clients. And, great managers decentralize decision making by avoiding micromanagement and trusting their employees to get the job done in the field.

4. Don’t let failures get you down

In a move that stunned many, Pope Francis gave his own confession this past year before hearing the confessions of others, acknowledging that he too makes mistakes. Referring to the handling of child sexual abuse scandals faced by the Church, Krames notes that Pope Francis himself has learned that “sidestepping adversity seldom works.” “Dwelling on past injuries will not help you in the future. To be a leader of the magnitude of Pope Francis, you have to recognize that sometimes you will falter, and that mistakes are acceptable as long as they can contribute to future triumphs,” he writes.

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Lawton Retirement Plan Consultants, LLC (LRPC’s) Monday Morning Minute is crafted to provide decision-maker’s with important information about the economy, investments and corporate retirement plans in a format that allows a reader to consume the information in less than 60 seconds. As an independent, objective investment adviser, LRPC has access to many sources of research and shares the best and most relevant information with its readers each week.

About Lawton Retirement Plan Consultants, LLC

Lawton Retirement Plan Consultants, LLC is a Milwaukee, Wisconsin-based independent, objective Registered Investment Advisory (RIA) firm providing investment advisory, fiduciary compliance, employee education, vendor management and plan design services to retirement plan sponsors. The firm currently has contracts in place to provide consulting services on more than $400 million in plan assets. For more information, please contact Robert C. Lawton at (414) 828-4015 or bob@lawtonrpc.com or visit the firm’s website at https://www.lawtonrpc.com. Lawton Retirement Plan Consultants, LLC is a Wisconsin Registered Investment Adviser.

Important Disclosures

This information was developed as a general guide to educate plan sponsors and is not intended as authoritative guidance, tax, legal or investment advice. Each plan has unique requirements and you should consult your attorney or tax adviser for guidance on your specific situation. In no way does Lawton Retirement Plan Consultants, LLC assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations. Investors should carefully consider investment objectives, risks, charges and expenses. The statements in this publication are the opinions and beliefs of the commentator expressed when the commentary was made and are not intended to represent that person’s opinions and beliefs at any other time. The commentary does not necessarily reflect the opinion of Lawton Retirement Plan Consultants, LLC and should not be construed as recommendations or investment advice. Lawton Retirement Plan Consultants, LLC offers no tax, legal or accounting advice and any advice contained herein is not specific to any individual, entity or retirement plan, but rather general in nature and, therefore, should not be relied upon for specific investment situations. Lawton Retirement Plan Consultants, LLC is a Wisconsin Registered Investment Adviser and accepts clients outside of Wisconsin based upon applicable state registration regulations and the “de minimus” exception.