What’s Up With CEO ‘Imposter Syndrome’? Here’s The Truth

I recently came across an interview with Mark Arian, CEO of Korn Ferry Consulting, the organizational development arm of the global search firm. According to Arian, 71 percent of U.S. CEOs say they experience “imposter syndrome.”

In other words, most CEOs don’t always feel confident or deserving of their success. Korn Ferry calls it a “crisis of confidence.”

Trying to read below the headline, I went back and studied the actual press release from Korn Ferry that describes the work and its key conclusions. (It should be quoted accurately, after all.) The 71 percent figure comes from a recent Korn Ferry survey of 10,000 global employees, titled the “Workforce 2024 Global Insights Report.”

Korn Ferry goes on to say: “The data shows that employees across all titles and compensation levels are struggling with feelings of doubt at work. Interestingly, senior management, including CEOs (71 percent) and other senior executives (65 percent) are more likely than early-stage professionals (33 percent) to exhibit signs of imposter syndrome. But this crisis of confidence contrasts with how they feel about their success and competence in their ability to perform the job functions, with 85 percent of CEOs expressing that they are totally competent in the role.”

Why the conflicting results? How can CEOs feel qualified for their roles, but also like imposters?

I’ve been a CEO four times, and it’s actually not that mysterious. I have also been a coach or advisor for at least a dozen “about-to-be” or new CEOs, so I would advise consulting firms and other experts in the field to not pathologize what’s going on here with phrases like “imposter syndrome.” This feeling is not a bug, but rather a feature of what people stepping into the CEO role feel.

It’s actually a good thing: Any CEO who is certain that they always see the best way to lead—that they clearly understand all challenges coming their way and are fully equipped to figure them out—is a car crash waiting to happen. There is nothing more dangerous than a CEO who is “not always right, but never in doubt.”

The Korn Ferry survey reveals another truth: Becoming a CEO is not an extrapolation of what you’ve done and learned to do in other roles leading up to the top job. As a first-time or new CEO, you are literally a stranger in a strange land. Suddenly, the borders of the job are ill-defined, the rules of behavior add up to a whole new mix, and the constraints on your decision-making are mostly gone.

The jobs leading up to CEO are defined heavily by the here and now—building, making, and executing an existing game plan, just better and faster. But, as CEO, your job is three to five years out in the future. It is to anticipate a world that does not yet exist, figure out your company’s place in several possible futures, predict what your current competitors will do, prepare for new competitors, and then determine how you must evolve in response.

With all that uncertainty, CEOs must maintain an aura of confidence, trust in their plans, and support employees who will need to act decisively. And so, it is entirely appropriate to have feelings of uncertainty. To have anxiety just means having a healthy awareness of the demands of leadership.

As a CEO, there also aren’t many people you can consult and “let down your guard” around, expressing openness about feelings of anxiety or uncertainty. We all understand that one of the best ways to alleviate anxiety is to share your feelings with someone you trust. Oftentimes, the act of hearing yourself say what you’re feeling out loud can help your system understand that it’s not disastrous. But CEOs don’t always have close confidants—it can be a lonely job.

A CEO’s “listener” should be someone who will not give advice to solve problems, but rather a confidant who can assure you that your feelings are in fact part of figuring out the best way to deal with challenges. This is why most CEOs are in fact confident that they can do the job—at some level, they already know that their feelings will ultimately yield solutions.

Where can CEOs find listeners? It’s not easy, but you can find peers who used to be CEOs or sit on other corporate boards (just not your company’s, preferably). People who have been both CEOs and directors can help you understand your new world of navigating how to share a confident vision while inviting your board to feel that their input and governance is welcome, understood, and useful.

Global search firms like Korn Ferry or Spencer Stuart can help too. They have organizational development consulting arms that provide skill development on a variety of management levels. And they bring broad experience, seeing firsthand how new CEOs succeed or fail. Such firms understand the dynamics around the differences.

For people on the way up, especially those who become CEOs relatively young, there are also organizations called Young Presidents’ Organization (YPO) and World Presidents’ Organization (WPO), which are designed to put members in touch with peers and offer educational programs relevant to the top job. Many members join forum groups of eight to 12 members who—with very strong confidentiality rules—learn to share not only job-related challenges, but also the emotions and anxieties that come with them. Members are in a position to listen productively and with perspective.

Another example is a global organization called Chief Executives Organization (CEO), which is open by invitation only to YPO and WPO members running large companies. CEO provides both educational structure and the opportunities to travel and socialize with peers, building one-on-one relationships. I belong to all three and they have helped me become a valuable resource for new CEOs and directors.

If you feel like an “imposter” CEO, know that the feelings are real—it is not a syndrome. Also know that there are resources out there to help you find the right listeners. To quote James Taylor, “Ain’t it good to know, you’ve got a friend.”