Monday, 27 February 2023 05:36

What Prince Harry can teach every CEO about managing envy

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Nobody wants to feel second best. Sibling competition for attention, resources and recognition triggers envy that persists into adulthood and your organization. Prince Harry's book, Spare, is a reluctant reminder to all CEOs that unmanaged envy carries commercial consequences.

The very nature of hierarchy can trigger feelings of inadequacy, especially in employees who are second-in-command or close to the big job. Despite the privilege, it's easy to interpret the message as "You're worthy but not quite worthy enough – not yet, anyway".

When you hold a position others want, you're likely to be a source of envy. It's a risk that leaders rarely consider. Do you know which colleagues envy you? Those who anticipate resentment within the pipeline are more likely to prevent ugly repercussions. Those who spot it early contain it and even convert it.

A hidden risk

Most C-suite executives secretly consider themselves next in line to the CEO. Similarly, appointed vice chairs, vice presidents, deputy managers and assistant managers may feel entitled to the top job given the implicit title trajectory.

Are second-in-command positions inspirational or a source of resentment? Envy is considered benign when motivational but malicious when it violates social norms.

Responses depend on individual expectations, promotion process, perceived fairness, politics and networks. 

Early clues include not sharing information with colleagues, shortcuts or taking excessive risks to impress. Envy exists throughout the pipeline and at the extreme, induces isolating misery, guilt and shame and affects productivity. 

The Duke of Sussex openly advocates the need for mental health transparency. I've seen many 'heirs apparent' scheme the downfall of the incumbent leader to accelerate their ascent. Too many trusting CEOs suffer the illusion of control and invulnerability, thinking it will never happen on their watch. 

History proves otherwise. In 1943, The Duke of Gloucester declared his brother King Edward IV was illegitimate and assumed the throne.

Today, it's more subtle among litigious-conscious leaders. In my experience, when employees wear multiple hats and positions flex like in start-ups, they assume ascendancy. 

But flat hierarchies can eradicate this expectation. For example, when Daniel Ek set up Spotify to compete with Napster, iTunes and Pandora, containing hierarchical risk was core to the $26 billion IPO and business model. As a result, no one held lofty titles.

Five strategies to overcome envy

Envy doesn't distinguish company size, seniority or gender. A study found three quarters of men and women admitted envy. 

Managing pipeline envy is a time-consuming distraction from growing your business. Clients often ask if containment is possible. As a behavioral scientist, I suggest savvy leaders adopt five simple strategies: 

1. Expect envy

Recognize that professional envy is predictable and present among ambitious executives. Herbert Kelman's social comparison theory suggests that people compare themselves to evaluate their self-worth. 

Constant self-comparison leads to perceived inadequacy and discontent. Emotionally intelligent leaders guide teams to refine their skills and capabilities to reduce their obsession with others.

2. Signpost expectations

Lay out realistic timescales for succession. CEOs announce retirement plans with long lead times. For instance, Amazon's Jeff Bezos announced retirement a year in advance, giving his successor time to transition. 

Use stories of others' success as inspiration for what's possible with persistence, performance and loyalty. This helps neutralize resentment, engendering collaboration and cross-pollination of ideas.

3. Share the limelight

It makes sense to share the glory among envious role-holders. Facilitate the platform they crave. Prioritize those whose contributions affect immediate revenue, reputation or relationships. If top roles result from legacy or founder status, acknowledge the privilege while highlighting the weight of expectations.

4. Be pragmatic

We envy those in our closest circle rather than distant strangers. It's easy to defer and discount the consequences of simmering sentiments on reputation. 

The Royal Family learned this lesson the hard way. Envy is particularly prevalent in family-owned businesses. The HBO series Succession shows how siblings clamour for attention to prove their innate superiority.

5. Focus outwards

Reorient business energy away from internal competition towards conquering industry competition. This reorientation will refocus employees back onto their well-paid official responsibilities.

Envy stealthily progresses from light-hearted competition to caustic rivalries that damage employee, customer and investor dynamics. Catch it early.

In every business, executive leadership must be a partnership based on mutual admiration and trust. By taking the emotional temperature, leaders will avoid contagion and now if they face a potential fever or just a flush and can manage the risk. 

Due sensitivity will alleviate much unnecessary stress. Someday, it might be you. Someday, it likely will be.

 

Inc

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