BRIAN EAGAR: Under-pressure executives consider quitting

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 effect of that sinking feeling?

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 June 25. 

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 hospitalised in a psychiatric institution.”

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 they have no-one to turn to for help.

Relationships outside 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 wellbeing taking a knock, and you have a recipe for disaster.

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 wellbeing at a higher level. 

While starting out at a new opportunity is a reactive (and sometimes short-term) solution, leaders from the top down need to take a proactive approach to managing mental wellbeing by fostering environments where everyone feels safe, trusted and like they belong — a culture where there is a sense of connection, openness, trust, and mutual respect.

In such an environment employees at all levels feel comfortable sharing their struggles and seeking help without fear of judgment or repercussions. If you consider that the average adult will spend about 90,000 hours at work, creating a space where all feel safe to share is a necessity.

While there is no one-size-fits-all approach to addressing mental health challenges and every person’s journey is different, the first step is always the same: embracing vulnerability and reaching out to ask for help. These are not signs of weakness but acts of courage and bravery — by being open about their struggles, those in positions of authority show the people around them that it is all right to be fallible.

For leaders suffering from poor mental health, proactive intervention requires the following:

• Recognition — leaders must be present enough to realise they are in a tough mental space. Lying awake at night thinking about work, not being able to switch off and being less tolerant are all indicators that something is amiss.
• Be honest — once recognition is there, leaders need to share their “as is”. Being open about when they find themselves mentally will open the conversation for others to share where they are, thereby creating an environment where talking about mental health is encouraged rather than shunned.
• Leveraging of objective parties — investing in a coaching relationship supports building leadership skills while also supporting mental wellness. Personal coaching, which looks beyond just business results and considers the whole, has supported many leaders to look at challenges differently, to overcome tough times, and to support others at the same time.

Do not let mental health challenges get the better of you. You owe it to yourself and to those around you to act now.

• Eagar is CEO of Towerstone.