The age question looms over America’s bosses

livemint.com:

It’s time to confront an urgent question: Am I the leader I used to be? The risk of avoiding this question is playing out in Washington right now. And while the fate of the free world might not rest on the answer for most of us, the futures of our companies and co-workers just might. If an honest assessment reveals a lost step, it might mean making small adjustments such as cutting back hours.

Or it could require handing over the reins. The worst course of action is doing nothing. Leadership and cognitive decline are pressing issues throughout America’s aging workforce.

High-powered professionals increasingly work past traditional retirement ages, even as ageism pushes others to leave careers early. There will be twice as many workers 75 and older in 2030 as there were in 2020, the Bureau of Labor Statistics projects. And these aren’t just rank-and-file workers; they are the people running companies.

More than half of private businesses in the U.S. are owned by people over 55, according to research by Project Equity, a nonprofit that advocates for employee ownership in corporate succession plans. Himanshu Palsule, chief executive of the professional-development firm Cornerstone, used to fly overnight to Bengaluru, India, check into his hotel for a morning shower, then report to his company’s satellite office for a full day of work with virtually no sleep.

Now such a grueling itinerary would wipe him out. The 60-year-old Palsule says he’s unwilling to invite the chatter that would ensue if he dozed off in a meeting or made a verbal gaffe. So, he now starts international trips a day early to get proper shut-eye and naps as needed to combat jet lag.