Pepsi’s Eric Foss on Leadership Development

Pepsi has always been known as a great company for leader’s. USA Today recently did an interview with Their CEO, Eric Foss. Here’s the link: Retain talent, but develop it, Pepsi Bottling chief says.

I like what he has to say. Here’s a summary:

1. Most people quit because they feel underappreciated. Give talented executives stretch assignments.

2. It’s a myth that all fresh ideas come from new hires and that long tenure creates stale thinking. “We definitely do not offer one job for life. New ideas and fresh thinking are critical, but it is a mistake to equate long tenure with stale thinking. Some of the most innovative minds happen to be the most tenured minds. We don’t believe that longevity breeds success. Retain talent, but never lose sight of developing talent.”

3. Good bosses are what make good employees. Leadership is about coaching and having a “teachable point of view.”

4. Encourage disagreement among executives, but set up rules and make sure no one crosses the line of respect.

5. No development system compensates for a bad hire. When hiring, look for character and the confident look of a leader.

6. Don’t worry about those who leave. Focus on those who stay.