The biggest fear held by CEOs is apprehension of being found incompetent, according to research from a corporate consulting firm.
This particular fear can weaken confidence, destabilise inter-executive relationships and create seriously shaky leadership, said Roger Jones, chief executive at Vantage Hill Partners, which conducted the research.
Of the 116 CEOs and other executives surveyed, 60 per cent admitted that fears of being seen as incompetent, underachieving or vulnerable affected executive team behaviour.
“Deep-seated fears – of looking ridiculous, losing social status, speaking up, and much, much more – saddle children in the middle school lunchroom, adults on the therapist’s couch, and even, my research has found, executives in the C-Suite,” he said.
While few executives talk about them, Jones said deep and uncontrolled private fears can spur defensive behaviours that undermine how they and their colleagues set and execute company strategy.
Other common fears include underachieving which can lead to risk taking in a bid to overcompensate, vulnerability, political attacks from colleagues which can result in mistrust and cautiousness and concerns over being perceived as foolish, which hinders honesty.
Jones said dysfunctional executive teams have been known to cause financial disasters for the companies they represent.
The better the executive team, the more profit the company makes which means that in essence, fearless teams are the key to soaring bottom lines, he added.
Overcoming executive fears
Jones said companies can do a number of things to help combat the negative impacts of corporate fear.
“Fear is inevitable, but it doesn’t have to poison an organisation,” said Jones, who recommended seven approaches for reducing such fears.
These include CEOs developing an awareness of their own fears as well as those of the team, placing inherent value on emotional intelligence, sharing personal stories as part of team effectiveness programs and introducing guidelines outlining acceptable and unacceptable communication behaviours.
He also recommended encouraging team members to contribute without consequential fear, conducting occasional team meetings without the CEO and rolling out incentive systems that discourage egocentric actions.
