A new study by strategy implementation company BTS found many CEOs overestimate that their companies will be able to execute CEOs' growth strategies. This may be due to not having effective talent management processes in place, as the survey also revealed employees' skill development is key to meeting CEOs' performance expectations for the workforce.
BTS examined CEOs' perceptions of their companies, and found most executives are too confident about what their companies can accomplish. Of the respondents, 39 percent were highly confident in their organizations' capacity to hit long-term goals and meet CEOs' strategy expectations. Seventy-one percent are sure their managers are able to drive performance. However, only those leaders who take advantage of talent management opportunities are able to deliver higher revenue growth and profitability.
However, being overly confident may bode well for CEOs. According to The Atlantic, research has found lacking confidence is just as damaging to success as not being competent is. Confidence is able to be acquired through experience, skill development and learning management. For CEOs, this means their positive outlooks can be beneficial, but they need to drive confidence among their workers through talent management solutions.