Applying Psychological Capital to Senior Management Development: A “Must” and Not “Nice to Have”

Abstract

The purpose of this viewpoint is to describe the necessity to use psychological capital (which includes the attributes of self-efficacy, optimism, hope and resiliency) in order to develop managers, especially senior ones. The viewpoint includes an example of optional steps of micro-intervention for senior management. In the 21st-century VUCA world, managers need to invest in processes that strengthen their resistance to psychological pressures and negative outcomes, while enabling them to cope with confidence with instability, volatility and uncertainty. In this regard, Psychological Capital (PsyCap) can and will contribute to significant changes for the better in managers and organizations as a whole. This viewpoint offers a relatively new view for developing senior managers.