Executive stress affects the individual and organization.
Being a CEO and leading in today's business world can often feel akin to orchestrating a high-stakes symphony performance in front of thousands. While it's not a literal performance, the continual complexities and changing landscape of business can leave executives feeling as though they're conducting a high-stakes symphony due to the necessary strategy, resilience, pressure, and adaptability required for success.
Speaking of high stakes and pressure, discussions of workplace stress have intensified in recent years, paralleled by a growing emphasis on employee well-being initiatives. However, one critical piece remains overlooked: the CEO's well-being. Many CEOs succumb to burnout due to the weight of relentless expectations and pressure.
In fact, in 2023, a record number of CEOs left their positions, with a sobering statistic revealing that 19 CEOs tragically passed away while in office. The relentless demands of the C-suite are breeding exhaustion and stress, with 75% of C-suite executives seriously considering quitting their jobs for better well-being support, according to a Deloitte and Workplace Intelligence survey. CEOs work an average of 62.5 hours a week (not including requests outside office hours), and this isn't going to lessen anytime soon.
Understanding Burnout
Burnout, as defined by the World Psychiatry journal, is a prolonged response to chronic workplace stressors characterized by overwhelming exhaustion, cynicism, detachment from the job, and a diminished sense of ability and accomplishment. CEO burnout affects not only individual well-being but also their teams and organizations. They become the bottleneck of the company. Warning signs of CEO burnout include:
- Lack of creativity and innovation
- Irritability and overall lower emotional intelligence
- Difficulty focusing and making decisions
- Indifference toward work and the mission
- Mental, emotional, and physical exhaustion
- Strained interpersonal relationships
- Increasingly isolated and detached from colleagues
To mitigate burnout, here are four core principles for executive resiliency:
Prioritize Intentional Exercise
Regular exercise not only improves your physical health but also improves your emotional resilience and mental health (and performance). A study published in the Journal of Cognitive Neuroscience found that individuals' memory improved after six weeks of short bouts of interval training lasting 20 minutes. Lastly, a 2021 study published in Physiology and Behavior found that aerobic exercise could help individuals recover from mental exhaustion through improved cognitive flexibility, motivation, and overall well-being.
Prioritize Sleep
Leadership requires peak cognitive functioning, making adequate sleep indispensable. That said, even moderate levels of sleep deprivation, as indicated by a study in Occupational and Environmental Medicine, impair your cognitive abilities, akin to being legally intoxicated. Also, according to research published in the journal Sleep, someone who sleeps 6 hours each night for nearly two weeks had the same mental faculties the next day as someone who pulled an all-nighter.
Lastly, a study published in the Academy of Management Journal found that sleep-deprived leaders display less emotional self-control toward their co-workers. The importance of sleep is magnified tenfold for CEOs, as they are expected to make impactful decisions and lead others in the organization.
Avoid the Superhero Syndrome
Many things will keep CEOs up at night, such as revenue growth, but a fear of failure is at the top of the list, as shared in a CEO survey. CEOs are under constant pressure to succeed and to appear like superheroes. Unfortunately, with this additional weight, stress, and expectations, many executives will turn to various addictions and substance abuse as a way of coping. Avoid the superhero syndrome by delegating, learning to say no more frequently, trusting your team more, and finding support through family, peer groups, or therapy. Avoid isolation and suffering in silence. Success in life, health, and business requires a village.
Stay Connected to Purpose
Amidst relentless demands, CEOs must remain anchored to their purpose and vision. According to the Journal of Clinical Psychology, staying connected and reminding yourself of your purpose in life was significantly associated with lower levels of depression and anxiety. Also, staying connected to your purpose has been consistently cited as an indicator of healthy aging, better resiliency, and emotional recovery from adverse events.
From vision to developing culture, CEOs are the linchpins of organizational success. However, as you navigate the tightrope of modern business, prioritizing your self-care and personal well-being isn't just a necessity but a strategic imperative for organizational success.
