71% of U.S. CEOs Experience Imposter Syndrome, Korn Ferry Survey Says

Mark Arian, CEO of Korn Ferry Consulting, reported that 71% of U.S. CEOs experience “imposter syndrome.” This statistic is based on a recent Korn Ferry survey of 10,000 global employees, which is part of the “Workforce 2024 Global Insights Report.” The survey indicates that feelings of doubt at work are prevalent among employees at all levels, with senior management, including CEOs (71%) and other senior executives (65%), being more likely than early-stage professionals (33%) to exhibit signs of imposter syndrome. Despite this crisis of confidence, 85% of CEOs expressed complete confidence in their ability to perform their job functions.

The Korn Ferry survey also reveals that becoming a CEO is not simply an extension of prior roles. As new CEOs, individuals find themselves in a unique position where job boundaries are unclear, rules of behavior are different, and decision-making constraints are minimal. Previous roles are often focused on immediate tasks, such as executing an existing game plan more efficiently. In contrast, the CEO’s role involves looking three to five years into the future, anticipating changes, positioning the company in potential future scenarios, predicting competitors’ actions, preparing for new competition, and determining necessary evolutions.

Given the high level of uncertainty, CEOs must maintain confidence, trust in their strategies, and support their employees’ decisive actions. It is natural for them to feel uncertain or anxious, as these feelings reflect a healthy awareness of the leadership demands. However, CEOs often lack confidants with whom they can openly share their anxieties, as their position is typically isolating. Sharing feelings with a trusted individual can alleviate anxiety, but CEOs do not always have such confidants, making their job a lonely one.

A suitable listener for a CEO is someone who does not offer solutions but reassures them that their feelings are a normal part of overcoming challenges. This is why many CEOs are confident in their abilities; they understand that their feelings will eventually lead to solutions.

CEOs can find listeners among peers who have been in similar roles, such as former CEOs or board members of other companies. These individuals can provide valuable insights into navigating the complexities of the CEO position while ensuring board input and governance are welcomed and utilized.

Global search firms like Korn Ferry and Spencer Stuart also offer organizational development consulting, providing skill development across various management levels. These firms have extensive experience in observing the success and failure of new CEOs and understanding the dynamics involved.

For aspiring CEOs, especially younger ones, organizations such as the Young Presidents’ Organization (YPO) and the World Presidents’ Organization (WPO) offer opportunities to connect with peers and access educational programs tailored to top executives. These organizations facilitate forum groups of eight to 12 members, where strong confidentiality rules allow for the sharing of job-related challenges and the accompanying emotions and anxieties. Such groups provide a platform for productive and perspective-rich listening.

Additionally, the Chief Executives Organization (CEO), an invitation-only group for YPO and WPO members leading large companies, offers an educational structure and opportunities for travel and socialization with peers, fostering one-on-one relationships. These organizations have proven beneficial in supporting new CEOs and directors, helping them navigate the complexities of their roles.

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