When the Great Resignation began, much of the talk was about low-wage workers who seized the opportunity to find jobs that better met their needs. Now, that type of career reassessment has hit the C-Suite.
A June 2022 article by Deloitte reported findings of an independent study, revealing that executives were struggling to maintain their well-being, just as their employees were, if not more. “Sixty-eight percent of employees and 81% of the C-suite say that improving their well-being is more important than advancing their career,” the article states. Seventy-four percent of executives believe that the obstacles they face when trying to improve their well-being are mostly tied to their job, the survey found. Additionally, nearly 70% responded that they were considering quitting to improve their well-being.
So far, this year has seen a record number of chief executive officers leave their companies, according to research by Challenger, Gray & Christmas. In a recent article, the outplacement firm reported that 150 CEOs departed their organizations in May 2022, representing a 52% increase from the same month a year ago. The 668 CEOs who left in the first five months of the year were the most in the 20 years the firm has been tracking the data.
The COVID-19 pandemic has prompted many workplaces to change the way they operate, including offering remote and hybrid options. While surveys show that working at home is something many want, there is a downside. The time between work and leisure continues to blur, creating more dissatisfaction. The old adage is true, a leader must first help themselves before helping others. Executives can help themselves and their employees by actively creating a boundary between work and home activities, both for themselves and their employees. There are numerous ways to do this, including setting clear limits on when work is conducted and when it is not.
If you or your team needs help with wellness, contact Employers Council.
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