We know a few things about what people want in their business leaders, especially male business leaders. A Journal of Applied Psychology study showed employers preferred athletic men of average build, and theorized that a man could earn an extra $700 per inch of height. But is it acceptable for men to have beards?
CEO of Goldman Sachs Lloyd Blankfein Beards seems to be catching on with CEOs. A few daring CEOs wear mustaches of the Burt Reynolds and Tom Selleck variety, such as Edwin Catmull of Pixar (DIS), Zack Nelson of NetSuite (NYSE:N), or Russel Simmons, co-founder of Yelp (YELP). CEO of American Apparel (AA) Dov Charney is well-known for his eccentric facial hair, but his reputation among co-workers is not necessarily one that most CEOs aspire to. Goldman Sachs (GS) CEO Lloyd Blankfein's new scruff, which borders on a closely trimmed beard and a five o'clock shadow, may be game-changer, however. It is unusual for CEOs of major financial institutions to embrace facial hair. Richard Parsons, former CEO of Citigroup (NYSE:C) would be a rare exception to the rule.
Beards are generally more popular among a younger set of CEOs. Stuart Butterfield of Flickr (YHOO) and Jimmy Wales of Wikipedia are examples of an increasing number of new tech company leaders bucking the behavior of corporate culture. The late Apple (AAPL) CEO Steve Jobs, with his neatly trimmed salt-and-pepper beard and black turtlenecks, is one of the best examples of how the image of a CEO has morphed over the years. His authority was not diminished as a result of his independent style. It reflected his role as an innovator. (See also: Steve Jobs: Myth Vs. Reality.)
A younger Steve Jobs Image consultant to CEOs and executives, Sue Jacques, based in Canada, tells Minyanville she advises business leaders to think it through before they grow a beard. She suggests CEOs grow their beards on vacation to ensure their colleagues don't see facial hair in its half-grown ugly-duck phase. Arriving at work with a partially grown beard can have a negative impact on your success. After all, it can be hard to do serious business with someone who looks like they just rolled out of bed after a bender," Jacques said.
She also advises to keep beards at a consistent well groomed shape, ask for honest feedback from others, and finally, to update your headshot.
"People may be reluctant to tell you if your beard doesn't suit you, your position or the corporate brand. Ask a few people whose opinions you value if your new look is flattering and appropriate. Also, make sure your facial-hair style suits your head-hair style. You may need to consider a different haircut to complement your new look."