Respect is the Re-Specification of one's 'Identity' or 'Position' compared to yours. I shall 'Re-SPECify' my 'Boss' as my 'Boss' and behave as a 'follower' because he has a 'higher position' than me. I shall 'Re-SPECify' my 'Elders' as my 'Elders' and behave as a 'follower' because they are 'older' than me and much 'wiser'. It's all in the title.
'Respect' shouldn't be defined based on one's 'position' in life, or one's 'identity'. Instead, this is how 'respect' is primarily defined rather than 'respect' being defined based on one that 'challenges' their own 'identity'. I know a person that doesn't like to be called 'sir', because he 'challenges' that 'identity', and I actually 'respect' him for that. That is 'real' 'respect' -- when one is able to 'challenge' / 'direct' / 'stop' their own mind existing in separation of what is 'here'.