It’s no secret that business founders, entrepreneurs, and executives – those in the C-suite – face constant challenges and concerns in their demanding and responsible roles. Some thrive on being “always on”, concocting a solution and getting buy-in from the team to make things happen. However, a large proportion feels plagued by these challenges and concerns.
While this prevalence is well noted, how many of these leaders feel they can share to what extent they are drowning? How many ask for help? And what is the greater impact of that sinking feeling?
Hard truths
Former Swisscom CEO Carsten Schloter, former Zurich Insurance CFO Pierre Wauthier, Unfiltered founder Jake Millar (aged only 26), celebrity chef Anthony Bourdain, handbag designer Kate Spade, steel company boss Angad Paul, former Britannica COO Vineet Whig, and thousands of others have devastatingly found no way out other than ending their lives. Most recently, Nick Imudia (former CEO of Konga and founder of D.light) was found dead in an apparent suicide on 25 June 2024.
According to The Conversation, “Entrepreneurs are twice as likely to report a lifetime history of depression, three times more likely to have bipolar disorder, and three times more likely to experience substance abuse and addiction. They are also twice as likely to attempt suicide or be hospitalized in a psychiatric institution.”
It’s lonely at the top
With business overwhelm, work-life balance takes a knock, especially in the case of entrepreneurs, who do not necessarily have a large team to support them and who take responsibility for business success. While CEOs have a team to support them, these leaders often feel no one to turn to for help.
Relationships outside of work suffer due to lack of time to invest in them, and thoughts being at work rather than in the present. Add to that diminished business results and general mental well-being taking a knock, and you have a recipe for disaster.
What’s work got to do with it?
Deloitte’s research shows that 75% of C-suite respondents and 64% of managers are seriously considering quitting their current job for one that supports their well-being at a higher level…
Brian Eagar | CEO | Towerstone | mail me |
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Related FAQs: C-suite mental health challenges
Q: What are some common mental health challenges faced by C-suite executives?
A: C-suite executives often face mental health challenges such as burnout, stress, anxiety and depression, particularly due to the high demands of their roles and the pressure to perform in a competitive work environment.
Q: How has the pandemic affected mental health in the C-suite?
A: The pandemic has exacerbated mental health issues among C-suite leaders by increasing workloads, blurring work-life boundaries and creating uncertainty, leading many to experience heightened levels of stress and burnout.
Q: Why is it important to address mental health in the C-suite?
A: Addressing mental health in the C-suite is crucial because poor mental health can negatively impact decision-making, productivity and overall organisational performance. High-level executives who maintain good mental health are better equipped to lead effectively.
Q: What strategies can C-suite executives implement to improve mental health in the workplace?
A: C-suite executives can implement mental health strategies such as promoting open communication, fostering a culture of support, encouraging self-care practices and prioritising mental health initiatives within their organisation.
Q: How can open dialogue around mental health benefit C-suite execs?
A: Encouraging open dialogue around mental health can reduce stigma, foster a supportive work environment and allow C-suite executives to share their struggles, leading to improved mental health and greater collaboration among teams.
Q: What role does self-care play in maintaining mental health for high-level executives?
A: Self-care is essential for maintaining mental health as it allows C-suite executives to recharge, manage stress and create a healthy work-life balance, ultimately enhancing their performance and resilience in the workplace.
Q: What are some signs of burnout that C-suite leaders should be aware of?
A: Signs of burnout in C-suite leaders include chronic fatigue, irritability, decreased productivity, lack of motivation and feelings of detachment from work. Recognising these signs is vital for seeking appropriate mental health support.
Q: How can organisations support the mental health of their C-suite executives?
A: Organisations can support mental health by providing mental health resources, offering access to counselling services, promoting mental health benefits and creating a culture that values employee well-being and encourages healthy work-life balance.
Q: What can C-suite executives do to destigmatize mental health issues in their organisations?
A: C-suite executives can destigmatize mental health issues by openly discussing their own experiences, advocating for mental health initiatives, and creating policies that prioritise mental well-being, demonstrating that mental health is a vital aspect of overall health.
