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CEOs are quitting in record numbers – what can be done?

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Summary

CEO departures have hit record highs according to a recent report, and research has found that senior leaders' wellbeing is suffering from the pressures and demands of their roles. To better support their top bosses, organizations should strive to create psychologically safe spaces for sharing feelings and concerns, invest in mentoring, coaching and support networks, offer tailored wellbeing programs, and take a strengths-based approach. These methods will help to build leaders' resilience and protect them from burnout and disengagement.

Q&As

Why are CEO departures hitting record highs?
CEO departures are hitting record highs because leaders are feeling the weight of organisational demands and external pressures, leading to burnout and their wellbeing suffering.

What evidence is there that leaders are feeling burned out and disengaged?
The research revealed that leaders felt more burnt out, overworked and disengaged than the overall survey sample. More than half (56 per cent) felt fairly or largely burnt out compared to 39 per cent of all respondents, and the same percentage felt fairly or largely disengaged versus 31 per cent of the overall sample.

How can leaders build their resilience?
Leaders can build their resilience by investing in social support, offering tailored wellbeing programmes, and taking a strengths-based approach.

What guardrails can organisations and HR professionals put in place to help support leaders?
Organisations and HR professionals can put guardrails in place to help support leaders by creating psychologically safe environments for leaders to share their challenges, providing mentoring, coaching and support networks, and coaching on how to protect capacity and thinking time.

How can organisations protect leadership teams from burnout and disengagement?
Organisations can protect leadership teams from burnout and disengagement by acknowledging the difficulties they face and implementing dedicated support mechanisms to address role-specific challenges, such as providing mentoring, coaching and support networks, and offering tailored wellbeing programmes.

AI Comments

👍 This article provides great insights into how organizations can better support their top bosses and build their resilience.

👎 This article doesn't discuss the underlying causes of the high CEO turnover, which is needed to truly address the issue.

AI Discussion

Me: It's about how CEOs are quitting in record numbers and what businesses can do to better support their top bosses. The article points out that while leaders feel supported and appreciated, they're still at risk of feeling burnt out and disengaged. It talks about how to build resilience and some strategies businesses can use to better support their leaders.

Friend: That's really interesting. What are some of the strategies the article suggests?

Me: The article suggests breaking the stigma around leaders talking about their challenges and providing mentoring, coaching, and support networks. It also recommends investing in social support, offering tailored wellbeing programmes, and taking a strengths-based approach.

Action items

Research and implement a tailored wellbeing programme for leaders in your organisation.
Create a psychologically safe environment for leaders to share their challenges and build resilience.
Invest in mentoring, coaching and support networks for leaders to help them manage their workload and stress.

Technical terms

CEOs: Chief Executive Officers - the highest ranking executive in a company, responsible for making major corporate decisions, managing the overall operations and resources of a company, and acting as the main point of communication between the board of directors (the board) and corporate operations.
Challenger, Gray & Christmas: A global outplacement and executive coaching firm that provides career transition services to individuals and organizations.
PA Consulting: A global management consulting firm that helps organizations to solve complex problems, create value, and maximize growth.
Psychological Safety: A shared belief held by members of a team that the team is safe for interpersonal risk-taking.
Mentoring: A relationship in which an experienced or more knowledgeable person helps to guide a less experienced or less knowledgeable person.
Coaching: A process of providing guidance and support to an individual or group to help them achieve their goals.
Delegation: The assignment of authority and responsibility to another person to carry out specific activities.
Strengths-based Approach: A method of focusing on the positive aspects of an individual or group, rather than their weaknesses.