The role of a CEO is undeniably demanding, marked by long hours, high-pressure decision-making, and relentless scrutiny. However, in the wake of recent studies revealing alarming turnover rates and instances of CEO burnout, it’s become increasingly clear that maintaining a healthy work-life balance is not just a luxury but a necessity for top executives.
According to a recent report by Challenger, Gray & Christmas, 2023 saw the highest turnover rate among CEOs since tracking began in 2002, with 1,914 chief executive officers stepping down from their roles. The shocking aspect of this statistic is that 19 of those CEOs passed away.
As the complexities of leadership continue to thicken, CEOs find themselves navigating how to simultaneously take themselves while taking care of business. If you find yourself wishing you could join the droves of CEOs stepping down from their roles, perhaps you should examine your work-life balance.
The concept of “work-life balance” certainly varies from person to person. However, the importance doesn’t change. Carving out time for yourself not only will benefit you but also your company. A company cannot thrive fully when its leader is burnt out and unable to lead capably. Marissa Mayer, former CEO of Yahoo, aptly summarizes the importance of finding one’s rhythm and prioritizing what truly matters in your life. “I have a theory that burnout is about resentment,” she says. “And you beat it by knowing what it is you’re giving up that makes you resentful. I tell people: Find your rhythm. Your rhythm is what matters to you so much that when you miss it you’re resentful of your work.”
Don’t wait to balance your life when it’s too late. It is possible to have a great career and a great life. They aren’t mutually exclusive! Prioritize your family, friends, and hobbies, ensuring that your cup is filled so that you can lead your company to the best of your ability.
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