CAMBRIDGE, United Kingdom — Do you have a nagging suspicion your supervisor has more in common with Ted Bundy than Lee Iacocca? Dr. Clive Boddy of Anglia Ruskin University, who many consider a pioneer in the field of psychopathy in business, has released a new report detailing how to potentially spot the signs your boss is a corporate psychopath.
The study focused on Bernie Madoff. At one time, Madoff was chairman of the Nasdaq stock exchange, but his financial empire was eventually revealed to be the biggest Ponzi scheme in history — worth over $64 billion! A few decades ago, some viewed Madoff’s narcissistic, psychopathic tendencies as superior business acumen. Today, he’s considered one of the “major villains” in business history.
The term psychopath is probably best associated with serial killers and true crime documentaries, but in reality, estimates show that around one percent of the adult population are indeed psychopaths, and not all of them are out for blood – at least not in the literal sense. The very same traits that make psychopaths absolutely terrifying to the rest of us are largely celebrated and rewarded in the world of business. As such, many modern psychopaths occupy senior managerial positions throughout the corporate world.
Psychopath formally refers to an individual who possesses no conscience, shame, guilt, or ability to experience love for or feel empathy towards other people. Meanwhile, the phrase corporate psychopath describes well-performing psychopaths who work in corporate and political settings. While these employees may seem somewhat attractive to hiring managers due to being unencumbered by emotions, Dr. Boddy stresses they pose a huge threat to the stability of companies, sectors, and perhaps even entire economies.
So, what are the warning signs to look out for?
If you suspect a psychopath may be handing down the orders in your office, look for these giveaways: Being emotionally shallow, superficial charm and intelligence, pure rationality, a cheating personality, lack of remorse, and irresponsibility.
“It is possible to look back with hindsight at some individuals in history that have committed crimes or destabilized industries, and be wise after the event. However, industries, particularly in the influential financial sector have an enormous responsibility to be more vigilant in spotting these individuals and ensuring they cannot endanger our economy and wider society,” says Dr. Boddy in a university release.
“We know that corporate psychopaths are disproportionately likely to hold very senior positions in business and industry, largely because of their apparently social personality traits. However, their ruthlessly self-serving behavior has the potential to bring down entire sectors in extreme cases. The quest for money, power and control is what drives the corporate psychopath, and they are ruthless and efficient in gaining these.”
“My talk will explain what makes these individuals tick and how to identify them before they cause serious damage. Being able to identify these individuals could also play an important role in informing investment decisions. Firms without corporate psychopaths in them are more likely to be viable, sustainable, and less likely to collapse,” Boddy concludes.
While the report is currently in the International Journal of Market Research, Dr. Boddy is also scheduled to present his work at the Chelmsford Science Festival, organized by Anglia Ruskin University.
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