Edition 2: Bold Leadership

Bold leaders are those who are willing to take a risk by developing a new product. They speak up on controversial topics. In fact, they will sometimes take a position contrary to higher-ups on a contentious topic. Typically, they seek to move at a faster pace than others and are willing to take personal responsibility for an unpopular decision.

Bold leaders are comfortable with thinking big, setting extremely high goals, or tackling a large project. They are not afraid to pick a fight with a powerful competitor. Instead of avoiding feedback from others, they seek it. They think in unconventional ways and are not afraid to invest in an unproven idea.

Finding the Bold Leaders

By examining 360-degree reports on more than 100,000 leaders in all industries and from around the world, I have identified leaders who exhibit bold behaviors and have researched their effects.

First, I looked at bold leaders and found that this capability worked best when combined with other leadership competencies.

 For example, imagine you work with a very bold leader that has incredibly bad judgment. That is a dangerous combination.

When I looked at the data, I found:

·     Leaders who had good judgment but were not bold had a 1% chance of being an extraordinary leader.

·     Leaders who were bold but had poor judgment had a 4% chance.

·     Leaders who had both good judgment and bold leadership had a 95% chance of being rated as extraordinary.

By combining bold leadership with other competencies such as honesty, relationship building, innovation, and strategic perspective, they can be significantly enhanced.

The Impact of Boldness

Second, I found that bold leaders are seen as much more effective. In fact, those at the 90th percentile for bold leadership are in the 91st percentile on an overall leadership effectiveness index.

Third, bold leaders have direct reports that are highly engaged. The graph below shows that leaders in the 90th percentile for bold leadership have employees who rank at the 80th percentile in employee engagement as well.

Bold leaders are also significantly better at retaining top talent. Finally, bold leaders get more discretionary effort from their employees as well. The graph below shows that those in the top percentile of bold leadership have 4.8 times the number of employees willing to go the extra mile.

Bold Not Overbearing

My intuition about how a person could be bolder often gets people into trouble. For example, I asked a leader recently what he would do to be perceived as bolder, and he said, “Be more pushy, give a lot of orders, tell people what to do.” This person would undoubtedly be perceived as being bold, but unfortunately, there are some unpleasant side effects (e.g., he would also be seen as an obnoxious jerk).

To learn more about my research on the balance of boldness, download this whitepaper.

By looking at data from over 100,000 leaders, we discovered the best ways for a leader to increase their boldness with no negative side effects. Here are four ways to increase your boldness successfully:

1.    Drive for results. Bold leaders are willing to take on difficult and challenging goals. Try inviting your team to propose two “game-changing” goals they would like to see your group pursue.

2.   External Focus. Bold leaders collect and share information. The outside world for any team or workgroup includes other groups and departments in the organization. Understanding the issues and concerns of other groups can help departments create positive synergy between the two groups. If you read important information about competitors or your industry, bring this back to the group.

3.   Innovate. Bold leaders are constantly looking for new ways to help the team increase both productivity and quality. Most innovative ideas challenge existing practices, processes, and approaches. Be willing to ask hard questions that challenge the status quo. Enlist the help of other team members in thinking about a fresh new way to accomplish something.

4.   Communicate. Bold leaders look for opportunities to communicate, reinforce and share relevant information with others.

Don’t be afraid to be a bold leader.

Helen Keller wisely said, “Avoiding danger is no safer in the long run than outright exposure. The fearful are caught as often as the bold.”

Take a risk, take a chance, do something different, and drive for results. As you do, you will become more effective. And you may even find yourself married to the job of your dreams.

Let me know in the comments below your thoughts, experiences, and questions about this research on increasing your boldness as a leader.

Your Friendly Neighborhood Psychometrician,

Joe Folkman

To learn more about boldness, attend my Encore Webinar- Bold Leadership: The Competency of the Future.