Boost in confidence in business leaders’ capabilities to manager disruption: Index findings
by CM Staff
The joint Index reveals 42% of business executives across a spectrum of sectors and geographies, are confident their organizations are being led by the right leaders.
TORONTO — Odgers Berndtson, an integrated leadership advisory firm, has found business executives worldwide have more confidence in their company’s leadership than they did two years ago.
Leadership Confidence Index 2022, was conducted in conjunction with research and advisory firm Forrester. The joint Index reveals 42% of business executives across a spectrum of sectors and geographies, are confident their organizations are being led by the right leaders. Two years ago, Odgers Berndtson published its first Leadership Confidence Index, which at the time found just 24% of executives were confident in their company’s leadership.
In the 2022 Index – which surveyed 1,100 executives – the majority of respondents (90%) stated that their organizations had been impacted by disruption while also reporting their organizations experienced growth (71%). The findings indicate the almost doubling in confidence in the past two years is a result of leaders successfully navigating their organizations through the disruption of the pandemic.
The Index also reveals several trends that have played a role in this increased confidence. Technology, the adoption of which grew significantly during the pandemic, is increasingly viewed as an enabler rather than a disruptor. 44% of executives now see it as a disruptive force; a reduction from 62% two years ago.
Strong ESG and DEI became hallmarks of successful organizations during COVID-19, and the Index shows that an overwhelming majority (87%) of executives believe their businesses have made positive changes in these areas. Most (88%) are also confident in their leadership’s ability to keep improving in these areas.
The majority (79%) of executives also believe the level of disruption will either increase or maintain at the same pace. Of all the C-level positions, the role perceived as the most important in successfully managing this disruption was, categorically (85%), the CEO.
Carl Lovas, Chairman & CEO of Odgers Berndtson Canada, said, “For business leaders globally, the pandemic proved to be the ultimate test of their mettle. Many inspired confidence and came out the other side with stronger and more successful businesses. But there are plenty who did not. Those not in the 42% failed to realign with a new and clear purpose. This cost them market share, and most importantly, their best people. For leaders the message is clear: dominating your market relies on talent and at the heart of attracting and retaining the best talent is confidence in leadership.”
While confidence is much higher than it was two years ago, 44% of executives still reported that their leadership performed either fair or poorly during the height of the pandemic. With more disruption expected, leaders who fall into this bracket are likely to struggle to instil confidence in their teams when the next crisis lands.