Executive Therapy Benefits Leaders

Some of the key responsibilities of a CEO include acquiring customers, growing the brand, driving innovation, focusing on global expansion, representing the company to stakeholders, being the face of the company, etc. Given these responsibilities and many others not mentioned, it is not surprising that the average work week for CEOs is 62.5 hours.

Add to these standard responsibilities modern issues such as economic uncertainty, remote work, artificial intelligence, and talent recruitment and retention, and executives are likely to be under increasing stress. The C-suite as a whole is a stressful and burnout-prone environment. A popular survey conducted by Deloitte and Workplace Intelligence revealed that 75% of executives are seriously considering leaving their jobs for better health support. For CEOs specifically, a record number of CEOs, 622, left their positions in the first quarter of 2024. One of the main causes is stress and a gradual deterioration in mental health.

Why You Need Executive Therapy

In Businessolver’s ninth annual State of Empathy in the Workplace 2024 survey, 55% of CEOs said they experienced mental health issues in the past year, up 24 percentage points from 2023. Millennial CEOs are the most likely to have experienced mental health issues due to anxiety, depression, loneliness, OCD, burnout, etc., at 60%. When making big decisions that can impact employees (and their families) and stakeholders, it’s not too surprising that this position exacerbates mental health issues.

For today’s executives, the job can be all-consuming and high-pressure. Over time, it can feel increasingly isolating, with a burden of responsibilities that most people can’t fully comprehend. While many try to deal with these challenges on their own, there’s growing evidence, such as the study mentioned above, that executive therapy can be a valuable resource for CEOs.

Unfortunately, for a variety of reasons, many people often consider therapy or counseling a last resort. However, executive therapy is a valuable option because it is tailored to those in leadership and stressful roles. CEOs would be wise to start by prioritizing their own mental health, being intentionally selfish and starting to put on their oxygen mask first. CEOs who are mentally healthy are not just better for themselves personally; they are also better for their organizations and the networks around them. Two key benefits of executive therapy are:

Eliminating the stigma of mental health in the workplace

There are many stigmas in the workplace, from women’s issues to loneliness and many other issues, but mental health is the most problematic at the moment. The Workplace Empathy Survey also shared views on mental health across organizations. CEOs (81%), HR (72%) and employees (67%) “agree” or “strongly agree” that their companies view people with mental health issues as weak or a burden. The survey found a strong correlation between workplace toxicity and mental health issues.

Workplace empathy research shows that mental health restructuring is necessary to help CEOs and organizations. The first step leaders can take is to be more compassionate towards themselves. You can’t give what you don’t have. Leaders can share their own struggles and efforts to address mental health in the workplace and strengthen organizational culture. Compassion and empathy should not be equated with softness or weakness. People respond more favorably to leaders who demonstrate compassion. A more compassionate and empathetic culture reduces emotional exhaustion, a key factor in burnout.

Improve relationships within the home

The CEO role brings unique challenges at work and, if left unchecked, can also create challenges at home. A CNN report found that one of the main causes of marital tension among CEOs is lack of time, which spouses may perceive as a lack of commitment to family. The report also outlines three reasons why marriages and businesses fail: not learning from past experiences, not adapting to changing situations and environments, and ignoring warning signs.

And the quality of a CEO’s relationships isn’t just something stakeholders care about, it’s something investors pay attention to: Companies with a single CEO are considered riskier investments. Finally, as the Journal of the Academy of Management reports, companies with CEOs who have relationship problems can have significant financial consequences through poor performance.

One useful skill CEOs can learn in executive therapy is perspective shifting. Though simple in its essence, perspective shifting is a valuable conflict resolution tool and a potential tool for innovation in the workplace, as it helps us understand others by seeing the world through their lens. It also provides an opportunity to increase self-awareness by gaining insight into our own feelings, biases, and thoughts. In summary, taking the time to look after your mental health can help build greater emotional intelligence in your personal and professional relationships.

As a CEO, you are the most influential person and lead the strategy. As you progress, so does your company. A key determinant of a CEO’s performance is the quality of your mental health. Investing in and nurturing your mental health is not only an investment in yourself, but also an investment and commitment to your organization, your team members, and most importantly, those closest to you.