Leaders in REM: Hubert Joly

For those who are new here, every week(ish) I'll share various topics that I think are important for the modern leader in Retail Ecommerce Management.

Every so often, I get the privilege to speak with inspirational leaders through my podcast Leaders in REM , and I’d love to start regularly sharing some of my favorite lessons learned from these conversations.

Before the pandemic, our team at CommerceIQ took great pleasure in bringing together leaders in the ecommerce industry to connect, share stories, and exchange valuable insights over dinner. In 2021, when the world was only a year into the new normal, we recognized the need to continue fostering a strong community of leaders, even in a virtual setting, as we sought an exceptional guide to navigate the post-pandemic landscape. And it was clear to us that Hubert Joly was the perfect choice.

Hubert Joly's profound impact on the business world is remarkable. As the former CEO of Best Buy, he spearheaded a transformative turnaround that redefined industry expectations. Today, Hubert continues to inspire as a distinguished professor at Harvard Business School and the acclaimed author of "The Heart of Business: Leadership Principles for the Next Era of Capitalism."

I'd love to share my key takeaways from our conversation with Hubert:

1. Put people first and people last. These guiding principles played a pivotal role in Best Buy's remarkable turnaround. One fundamental aspect of this human-centric approach was spending the first week in the store and listening to the frontliners. Hubert emphasized the importance of actively acting upon their feedback. Additionally, Hubert firmly believed that cutting headcount should be the last resort. He placed emphasis on prioritizing revenue growth, which can be done by cutting the cost structure.
2. Start meetings with people, not with financial results. Hubert's approach to change management is refreshingly simple: change management. It serves as a valuable reminder that clarity of purpose and focused action are key. On the other hand, his advice on changing organizational culture is actionable: begin your meetings by addressing the aspects that your leadership and organization values the most. Hubert recommends starting with people and organization, followed by customers and business, and concluding with financial results.
3. To be a better leader, write your eulogy. Hubert shared about an interesting program at Harvard, where new CEOs were asked to write their retirement speeches so they could think about what kind of leader they wanted to be. Even his wife, an executive leader coach, had her clients write their own eulogies. As Hubert pointed out, no CEO would say they wanted to be remembered solely for financial achievements like tripling share prices. While such accomplishments are not insignificant, Hubert stressed that true leadership means leading with both the brain and the heart.
4. Learn to ask for help. Hubert openly shared that he regretted taking too long to realize that leadership goes beyond intellect and ego—it is all about being human. Initially, he struggled with accepting feedback until the moment he recognized the value of working with an executive coach. This collaboration enabled him to enhance the way he communicated with the organization and actively identify areas that he personally wanted to work on. In our conversation, he cheerfully shared his favorite phrase: "Hi, I'm Hubert, and I need help."

I had a wonderful time picking out those valuable lessons from Hubert Joly. To listen to his perspective in full, check out our conversation with him on the Leaders in REM podcast, available on Spotify and Apple .