Fear’s Greatest Fear

by Phil Wall

In March of this year, I was having breakfast with a senior investment banker and asked him how he felt the growing challenges in the finance sector would play out. He replied “I am more frightened now than in any time during my thirty years in banking: for the first time I see fear replacing greed as the primary driver in our industry.”

I don’t think either of us realised then just how prophetic his statement would turn out to be. We have a truly emergent “fear economy” which is driving behaviour and decision-making all over the world.  From plush boardrooms to pensioners queuing outside bank branches, people are scared.

This is indeed a crisis, but fear is not a newcomer to the table.  My experience is that many leaders spend a great deal of their lives running scared. Fear of failure or loss of reputation; fear of being wrong or passed over: these are everyday emotions in offices everywhere. Fear of rejection, fear of being slandered - the list goes on. Fear often drives the decision-making and behaviour of leaders under normal conditions. It is rarely experienced at today’s intensity, but nonetheless, fear haunts many corporate corridors.

The problem with fear is not so much the object of our fear, but rather the impact of it. Fear is toxic; it distorts perspective, blurs our vision and hampers our capacity to make good decisions.

Fear’s impact on people and communities is well documented, its role in leadership less so. Much of the present crisis is the result of exaggerating risks, panic trading and knee-jerk responses from executives in its grip. At the risk of sounding harsh: we expect and need more from leaders.  It is in times like these that we need leaders to lead: stepping up, confronting their fears and helping the rest of us to do the same. Don’t get me wrong, I’m not expecting some mythical, macho hero to swoop in to rescue us. That archetype has done enough damage in recent days. No, we need men and women of substance, digging deep and embracing the difficulties that come with the privilege and responsibility of leadership.

As they do, they have the opportunity to discover more of who they are or more inspirationally, who they could be. Unearthing fresh resource and capacity, the crucible of the crisis moment provides an opportunity for redefining the nature of their leadership and how they will be seen by those who follow.

To lead well in anxious times needs discipline and focus. Leadership begins with leadership of self.   Fears must be confronted for what they are, understood and put in the right perspective. Worst case scenarios rarely become reality. Under the spotlight of clear thinking and collaboration, fear can often dissipate and be put back in its place.

Fear often shuts people down, pressuring leaders to turn in on themselves. However, the one thing people need during periods of uncertainty and concern is abundant communication. Internalising the process must be resisted and extra effort put into connecting with those for whom we are responsible.

Fear’s greatest fear is courage. This is not the absence of fear but a decision to master it. A well-known U.S. General said, “The best leaders are those who lead their people into the freezing blizzard without showing them how cold they are.” Courage displayed inspires those around us and gives them permission to ignite their own fire within.

Such behaviour has not been entirely lacking during this time. We may dislike some of his decisions and economic perspectives, but the Icelandic Prime Minister Geir H. Haarde went on national television and said the following:

“There is a very real danger that our economy could be sucked into the whirlpool and the result could be bankruptcy. If there was ever a time when the Icelandic nation needed to stand together and show fortitude in the face of adversity, this is the moment… I urge you to guard that which is most important in the life of every one of us… with common effort and with that optimism which characterises the Icelandic people, we will emerge from these difficulties and make a new and energetic comeback.”

Desperate times require leaders to stand up and lead. No ducking, no diving, no hiding. For those who elected him to lead, he stepped up and led. The rest of us should do the same. In truth, such courage is fears only fear.

Writer: Phil is CEO of Signify where he provides leadership and coaching services to senior corporate executives in the UK and US. Phil previously worked as a London police officer and as a communicator/leadership trainer with The Salvation Army in the UK.

2 Comments to Fear’s Greatest Fear

1. Phil:

   This is a great discussion piece. Thank-you for it!

   I think though that fear has been a primary motivator for some time and that greed has merely been a manifestation of it.

   Your point that we need to guard against having fear rule over our actions is a good one.

   Thanks

   Andrea
Andrea614Regent on November 14th, 2008

2. some great thoughts here Phil… as usual! thx.
   What are the ways that abundant communication takes place for leaders? accountability partners/group settings a mentor perhaps? In my experience in The Salvation Army people are pretty much left on their own in this department… learning how to express yourself and your fears in safe ways and to safe people is an art of leadership for sure.
   there is no doubt that many leaders within the church/army are driven by fear… actually many of our forms and proposals are set up around risk management instead of forward momentum… any readers have ideas how we can change the culture of fear within the ranks and confront without?
   Danielle
Danielle Strickland on November 14th, 2008

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