Former Baxter International CEO Harry Kraemer recently described an important daily ritual to Kellogg Insights (Kraemer now teaches at Kellogg). Kraemer has engaged in a nightly practice of self-reflection for nearly four decades. He found this ritual highly useful throughout his career as a very successful business executive. Kraemer argues that self-reflection has three important benefits:
- It helps you set priorities and adjust them over time. You can evaluate whether you are dedicating time, attention, and other resources in a way that is aligned with your priorities.
- It protects you against the possibility of a painful surprise. Self-reflection enables you to anticipate what might go wrong and be better prepared for those contingencies.
- It helps you lead your team more effectively. You can assess how the team is performing and what adjustments need to be made to enhance performance (including changes in the way you lead the team).