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Self-confidence correlates strongly with business success

Self-confidence correlates strongly with business success

They have been called “deciders” and “drivers,” but regardless of their specific title, all business should be fiercely competing to hire these decisive decision makers.

In a recent Ere.net piece, Nick Tasler delves into the issue of decision-making as it relates to business professionals. He cites a study by Timothy Judge from the University of Notre Dame that found that an individual’s belief in his or her own abilities is a significant determinant in workplace performance, even more so than upbringing.

“The supremely confident sons and daughters of roofers and plumbers who had only mediocre SAT scores and below average grades earned a 30 to 60 percent higher income than the smart kids with dreary views of their abilities,” according to Tasler. “And those kids with all the advantages of intelligence and pedigree plus a firm belief in their competence earned three times as much money as their equally blessed peers.”

In addition to finding workers who have displayed an innate ability to make decisive decisions, companies need to find CFOs, financial professionals and other high-level business leaders who boast a certain personality type. A recent study cited by CFO World found that 77 percent of successful CEO and CFO dyads had at least one “driver” – a analytical, decisive and pragmatic business leader. The other personality types – integrators, guardians and pioneers – were not observed nearly as often.

Businesses in search of drivers and deciders may not have the resources to find these leaders on their own, so some rely on third-party job search firms when recruiting managers. These organizations can also conduct a financial professional search as needed, by sifting through high-quality applicants currently employed by other companies.

ExecutionistSelf-confidence correlates strongly with business success