Leadership Overconfidence and the Failure to Adapt
Two of the most important leadership lessons I learned happened early in my work life in my days in NYC. I watched a manager undo more than 35 years of experience by being overly sure of himself and unwilling to change with the times. His career derailed and ended as a result.
OK, so don’t be overconfident and don’t fail to adapt. Not so hard, right? You may think you are immune to either of these. And perhaps you are among those who are.
But consider Malcolm Gladwell’s article in The New Yorker (http://www.gladwell.com/2009/2009_07_27_a_cocksure.html) where he writes about overconfidence and the downfall of Bear Sterns. By no means is it just those in finance world that are at risk. Apparently, as we age and with more experience, we tend to overestimate the accuracy of our judgments. This is even more true when “…the task before us is difficult and when we’re involved with something of great personal importance.” The line between what we can control and what we can’t gets grayer.
Of course there are times when overconfidence disguised as excessive optimism can be helpful. But business and organizational results are at risk, not to mention the well being of the individuals who make up those organizations.
Leaders need to be very mindful of falling into the trap of overconfidence. One way to do that is to always be on the lookout to adapt as necessary. Do not solely rely on what has worked in the past. Too often leaders blindly repeat what has built the bottom line and brought them success so far.
Equally critical is self-awareness and being able to trust your team to offer diverse views for serious consideration. It takes a grounded leader to ask for input especially when it’s a different perspective. And it takes trust for those the leader is asking to provide honest opinions and feedback.
Tags: bottom line, leaders, self-awareness, teams, trust
