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| Confidence in CEOs, directors of cos lowest: survey |
| Press Trust of India / New Delhi Sep 08, 2010, 20:31 IST |
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The lack of confidence in the abilities of corporate leadership is the highest at the level of chief executives and board of directors, says a survey by executive search firm Korn/Ferry International.
According to the recruitment firm's 'Confidence in Leadership Index' study, recovery of confidence stalled during second quarter this year from an all-time highs in the previous quarter.
The Index revealed that the most significant decline in credibility was at the very top of the house. Corporate boards lost six points in the credibility of leadership score, and CEOs declined by five points during the second quarter, the study said.
However, the impact has been lower in Asia Pacific which is a reflection of sustained recovery of industrial output and the economy in general.
"Our index findings indicate confidence in leadership closely follows economic upward and downward trajectories. This suggests that, during times of economic instability, top leadership must take even more proactive steps to ensure stakeholders have confidence in their capabilities as leaders," Korn/Ferry International Managing Director (India Office) Deepak Gupta said.
"...Indian leaders have handled the challenges specially the people related ones in a very humane and fair manner and has kept the trust and credibility intact amongst the Indian leadership," Gupta said.
The index measures four key factors of leadership --credibility, trust, direction and characteristics.
Overall, credibility of leadership globally is down four points at 74 points in the April-June quarter from the previous quarter.
The trust in leadership fell to an all-time low on the Index at 77, with every single trust category losing ground in the quarter.
Asia Pacific was the only region to improve in the trust-in-leadership category, setting an all-time high at 80.
"While this is inconsistent with Asian financial market performance during second quarter, it may be due to Asia's general leadership in the global economic recovery," it added.
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