The new study reveals a gap in business leaders’ ability to make confident decisions.

A global context of “change and uncertainty” has meant business leaders lack confidence in their decision-making, with more than half (56%) feeling “ill-equipped”. This is compounded by an increased sense of social isolation.

HSBC’s global ‘Seizing Uncertainty’ study of 17,555 individuals across 12 countries found almost half (44%) of C-suite professionals often regret their decisions. Study advisor, Professor David Tuckett, director at the UCL Centre for the Study of Decision-Making Uncertainty, believes unpredictability is becoming the norm. “In this context of radical uncertainty, individuals, businesses and economies are facing heightened complexity and constant disruption.”

According to the study, over a third (36%) of the general population feel isolated and over two-thirds (64%) of business leaders wish they had more people around them for support. This negatively impacts decision-making, as 45% of business leaders say decisions made alone turn out to be poor. 

A 'decision-making guide' developed by HSBC advises business leaders to depend more on their networks. “A business leader’s valued, trusted network is a key enabler in setting up organisations for success, encouraging more openness to opportunity and confidence in decision-making,” says Noor Adhami, HSBC global head of international subsidiary banking.

“The study shows that networks that span professional and personal lives, geographies and viewpoints can push you to think differently and even alert you to risks – or opportunities – that you wouldn’t have seen alone.”