CEO Confidence levels at highest since 1976
Published: 3rd August 2021
A recent report by Conference Board has shown that CEO confidence has reached the highest level since 1976 despite the COVID-19 pandemic still lingering and causing uncertainty for many businesses. Research shows that at the highest level of business, 63% of males consider themselves to be ‘highly-effective leaders’ in comparison to just 49% of women at the same level.
Leaders having high levels of confidence can be a great thing for organisations when used effectively, however, there can also be some downsides to having leaders with sky high confidence…
Benefits of Confident Leaders
Research carried out by Joseph Folkman, a Corporate Behavioural Statistician showed that the number one benefit of leaders who have high levels of self-confidence is their ability to champion their own projects and initiatives. Their confidence also helps them to successfully lead change and innovation within their organisations and help others quickly come around to their way of thinking.
Confident leaders also have an easy ability to motivate others and inspire confidence in those around them.
Negative Aspects of Confident Leaders
Of course there are negative aspects to having leaders who exude confidence in their own abilities. One of the most unsurprising is the tendency to come across as arrogant, which can cause leaders to make decisions that are sometimes reckless and not properly thought out and researched. The same confidence that can help lead innovation and change can be used to make poorly assessed and unsubstantiated decisions.
Confidence is undoubtedly a tool that when mastered correctly can be used to have overwhelmingly positive effects. The tricky part for companies is knowing which potential leaders display the right type of confidence and will be able to lead their team and their organisation towards success and which have the wrong type that could have disastrous consequences.