The 5 Minute Leader: Listen More Than You Talk

The 5 Minute Leader is a series where I share a weekly leadership hack, tip, or strategy that one of the world’s top CEO or leaders shared with me.

Candido Botelho Bracher is the former CEO of Itau Unibanco which is Brazil’s largest bank with around 100,000 employees around the world. When I asked him for his best piece of leadership advice he said “listen more than you talk.”

In today's fast-paced business environment, effective communication is essential for success. One of the most important, yet often overlooked, aspects of communication is listening. Leaders often feel the need to talk, communicate, and delegate in order to maintain control and assert their authority. However, this constant talking can hinder their ability to truly understand the needs and concerns of their team members. By actively listening, leaders can foster a more open and collaborative environment, where team members feel heard and valued. This, in turn, can lead to increased trust, higher levels of engagement, and better overall performance.

A study conducted by the Harvard Business Review found that leaders who exhibit strong listening skills are perceived as more effective, influential, and trustworthy. Furthermore, a report by the International Listening Association revealed that poor listening is the cause of 60% of all workplace errors and misunderstandings.

Ray Dalio, the founder of Bridgewater Associates, attributes much of his company's success to its culture of "radical transparency," where employees are encouraged to openly share their thoughts and ideas. This approach relies heavily on active listening from leaders, ensuring that diverse perspectives are acknowledged and integrated into decision-making processes.

When Alan Mulally took over as CEO of Ford Motor Company in 2006, the company was on the verge of bankruptcy. By adopting a listening-focused leadership style and creating an environment where employees felt comfortable sharing their concerns, Mulally was able to turn the company around and secure its future success.

Here are some simple things you can do: