ARE YOU AT RISK FROM CEO-IT’S?

ARE YOU AT RISK FROM CEO-ITS?

There's an affliction you could be at risk of contracting. It affects many people in positions of power and the symptoms include "a tendency toward isolation, belief that you’re smarter than others, preference for loyalists, aversion to changing course even in the face of failure – and love of royal treatment".

This is a condition described by Joann S. Lublin, writing for The Wall Street Journal. She calls it "CEO-its", and explains: "It appears to occur when promising managers reach the corner office or other C-suite spots. Once infected, once-successful executives often underperform and put themselves at great risk of early exits, experts say."

According to Carol S. Dweck, a Stanford University psychology professor and author, senior managers with an inflated sense of superiority frequently overlook information that has changed.

As a result, they repeat actions long after they have stopped working. They lose the ability to question their actions and fail to keep pace with changes.

Richard Boyatzis, an organisational behaviour, psychology and cognitive science professor at Case Western University, says CEO-it’s is "beyond epidemic". He believes the problem stems from stressed executives failing to open themselves up to new ideas.

Present and former CEOs share with Lublin their advice on how to avoid the affliction:

• Surround yourself with trusted lieutenants. Scott Wine, CEO of Polaris Industries Inc., says talented associates "make it easy to acknowledge I don't always – or even often – have the best idea in the room".

• Admit and correct your mistakes frequently. David Kirchhoff, head of Weight Watchers International Inc., says taking responsibility for your errors is "a very powerful way to keep yourself humble".

• Encourage dissent and be wary of sycophants. William George, a former CEO of Medtronic Inc., insists that leaders should reward people who challenge them, and says: "I didn't promote people who didn't take me on."

• Treat every employee with respect. Carin Stutz, recently appointed CEO of Cosi Inc., says: "I feel more responsible than ever to respect and support people," and explains she spent ten hours a day during her initial five weeks as CEO going through store-manager training.

• Find an objective sounding board outside the office. Lublin says: "A spouse, executive coach or informal group of advisors can alert you about looming signs of CEO-its."

culled from Leadership & Management Review