Seven Signs of The Greed Syndrome
It is said that without greed we would still be
living in caves but, left unchecked, the insatiable desire for more and better
material things can be destructive.
Pavel felt that he had had a good day. At the
most recent board meeting of the Raler Company, he had managed to push through
a salary and bonus packet worth $20 million, taking his CEO-to-worker pay ratio
to four hundred. But in spite of this formidable pay packet, it did grind on
him that some of his colleagues in other listed companies were making more. He
comforted himself with the knowledge he had other irons in the fire. His
purchase of the most advanced Gulfstream corporate jet made him feel better—at
least for the moment. He also gained a modicum of pleasure from the fact that
Raler paid for his $20 million New York penthouse apartment. Plus he had a
generous expense account set up to give him unrestricted opportunities to
charge for personal items, including the cost of a yacht rental of $20,000
dollars last summer.
Despite these luxuries and perks, Pavel
continued to question whether he deserved more? After all, wasn’t he the maker
and shaker of the company? Adding to his lingering sense of dissatisfaction was
the thought that he still wasn’t a member of the billion-dollar club. He
wondered how he would be able to reach that milestone.
As always, life is full of surprises. In the
middle of a heated discussion pertaining to a takeover bid, from which he stood
to make a real financial bundle, Pavel had a stroke. For a short time, he was
kept alive on life support. But soon after, it was death that put an end to his
sense of never having enough. For Pavel, life without money had always seemed
incomplete, but money without life turned out to be quite useless.
Pavel is a good example of the greed and excess
that is the hallmark of many executives. Greed is a characteristic that cuts
across most human endeavors and goes back as long as our species has been on
earth. Throughout humankind’s history, greed has had a mixed press. On one hand
it has been hailed as the motor of economic growth and human progress, on the
other, uncontrolled greed, has been seen as the cause of much misery, as recent
economic history has shown very dramatically. In spite of these examples, our
culture continues to place a high value on materialism, and, by extension,
greed.
Recognising the greed syndrome
What are the warning signs of uncontrolled
greed?
1. Overly self-centered behavior becomes the first give-away of greedy
people. Greedy people are always saying “me, me, me” with very little regard
for the needs and feelings of others.
2. Envy and greed are like twins. While greed is a strong desire for
more and more possessions (such as wealth and power), envy goes one step
further and includes a strong desire by greedy people for the possessions of
others.
3. Greedy people lack empathy.
Caring—being concerned about the feelings of others—is not part of their
repertoire. As such, they have little qualms about causing pain to others.
Their inability to empathise, their lack of genuine interest in the ideas and
feelings of others, and their unwillingness to take personal responsibility for
their behaviour and actions makes them very difficult people to be with.
4. They are never satisfied.
Greedy people look at the world as a zero-sum-game. Instead of thinking
that everyone would benefit as the pie gets larger, they view the pie as a
constant and want to have the biggest part. They truly believe that they
deserve more, even if it comes at someone else’s expense.
5. Greedy people are experts in manipulation. They
are highly talented in taking credit for work done by others. They can be
charming, but their principal agenda is to have people around them that feed
their ego.
6. Greedy people are into the short run; they are
focused on satiating their immediate needs and leave it to others to cope with
the consequences. To illustrate, as leaders of corporations, they are more
interested in getting their bonuses, instead of making investments for future
innovation, or to share whatever benefits accrued with their employees.
7. In the pursuit of their material needs,
they know no limits. Greedy people are not good at maintaining
boundaries. They will compromise moral values and ethics to achieve their
goals. They look for loopholes or clever ways to outsmart the rules and
regulations that have been put into place to moderate this kind of behavior.
Dealing with excessive greed
What I have learned from experience dealing with
executives that suffer from the greed syndrome is that it is usually the
foolish decisions born out of greed that eventually prompts them to make
changes. Often setbacks, such as health issues or serious interpersonal
problems, propel them to confront their addiction to greed.
To create a motivation for change, people
obsessed by greed may have to go on an inner journey (perhaps accompanied by a
coach or therapist) to uncover the unconscious sources of their singular
pursuit of wealth. Doing so may imply dealing with the childhood setbacks that
they have experienced that makes them behave the way they do. It means that
they may have to deal with unresolved conflicts, to cope with pent-up emotions
and anger, to work through unfulfilled dreams, and to face the various defenses
that drive them towards excessiveness.
They may also need to become acquainted with
what is really essential in life such as love, emotional intimacy,
unconditional acceptance (and self-acceptance), and “rich” satisfying
relationships.
People suffering from the greed syndrome need to
find ways to move on from egoistic strivings to more altruistic ones. It’s
important they recognise that they have a choice. This means stepping back, and
looking at other options open to them rather than mindlessly following their
cravings for more. Greedy people need to recognise that we can only be rich if
we are able to give. Taking this altruistic route, requires persistence,
patience, humility, courage and commitment. Not doing so, however, will be at their
peril, as Pavel discovered to his detriment.
The bigger question we should ask ourselves is
how can we change the societies we live in that are based too much on
acquisitions and excess? As Schopenhauer once said, “wealth is like sea-water;
the more we drink, the thirstier we become.” If we learn how to overcome greed,
we may have a simpler, more meaningful, happier and richer life.
Manfred
Kets De Vries is the
Distinguished Clinical Professor of Leadership Development & Organisational
Change at INSEAD and The Raoul de Vitry d'Avaucourt Chaired Professor of
Leadership Development, Emeritus. He is the Founder of INSEAD's Global
Leadership Centre and
the Programme Director of The
Challenge of Leadership, one of INSEAD’s Top Executive Development Programmes. His most recent books are “You
will Meet a Tall, Dark Stranger: Executive Coaching Challenges” and “Telling
Fairy Tales in the Boardroom: How to Make Sure your Organization Lives Happily
Ever After.”
Read more at http://knowledge.insead.edu/blog/insead-blog/seven-signs-of-the-greed-syndrome-4624?utm_source=INSEAD+Knowledge&utm_campaign=2f42931f4c-14_Apr_mailer4_14_2016&utm_medium=email&utm_term=0_e079141ebb-2f42931f4c-249840429#0pixXJsPFVrUy36M.99
No comments:
Post a Comment