Considering Quitting Your C-Suite Job?

The demands on CEOs are becoming too much. It’s what I call the “Tyrant of More.” Isn’t there always more to do? More reports, more hires, more strategies for the future. And that’s just your job. Your family and friends are also looking for more from you.

But there are only twenty-four hours in a day. And you are only one person. Does this sound familiar?

Modern issues are only compounding the problem. An uncertain economic climate, talent recruitment and retention, the age of artificial intelligence, and remote work have only added to the stresses on CEOs. In fact, the CEO position is one that is prime for burnout.

Recent statistics on CEOs confirm that burnout is a growing problem:

• The average work week for a CEO is 62.5 hours.
• 55% of CEOs have experienced a mental health issue in the last year – that’s up 24 points from 2023.
• Millennial CEOs are the most likely to experience anxiety, depression, and loneliness.
• And 75% of executives seriously considered quitting their jobs for ones that better support their well-being.

    (Source: Hayes II, Julian. “CEO Mental Health: How Executive Therapy Benefits Leaders.” Forbes. 1 July 2024.)

“Better support for their well-being.” Employees have bosses to report to. Middle managers have people above them. But where does the CEO go when they need support?

Increasingly, companies are investing in executive coaching to support their elite staff. According to The Hay Group, one-third of all Fortune 500 companies now utilize executive coaching as standard leadership development for their talent at the top.

Statistics on Coaching are very compelling. The International Coaching Federation (ICF) confirms these benefits of executive coaching:

• 70% increase in individual performance
• 50% increase in team performance
• 48% increase in organizational performance
• 788% return on investment (ROI)

   (Source: “The ROI of Executive Coaching.” American University Washington, D.C. 2024.)

Creating a coaching culture will also shift a mindset within the organization. Today, employees will thrive if their managers act like a coach instead of a boss. In other words, bosses who have meaningful conversations, set clear goals, and empower their employees with trust and respect will see an increase in overall performance.

But changing the culture starts at the top. CEOs are used to bearing the responsibility for everyone. If they are working under growing stress, they are not performing at their best. Executive coaching can change the climate by helping the CEO learn to delegate, break bad habits, and improve relationships and communication. In fact, when they learn better habits and boundaries, that changes things for everyone in the organization.

Executives need support. Instead of letting them burn out, why not support them with executive coaching? You’ve hired elite talent; it only makes sense to invest in them. The return on this investment means a CEO who actually gets more done in less time, a CEO who has more time for his family, and a CEO who develops a healthy climate for everyone.

Protect your CEOs, and you will also see higher employee satisfaction and retention by creating a thriving workplace.

Vibrancy Unlocked coaches CEOs to thrive so they build a better workplace. Contact us at www.vibrancyunlocked.com. We can help.