How CEO’s Manage their Mental Health
Mental health management has been brought to the forefront of all of our minds in recent years. Propelled by the Covid-19 pandemic, there were multiple articles and advisory pieces posted across the board, targeting CEOs and how to manage in times of crisis.
The reality was at this particular moment in time, nobody truly knew how to manage a global pandemic whilst also acting in the best interest of the business or its employees.
Now that we are in a post-pandemic world, it’s allowed for reflection: on business performance, how we hire, and how our leaders should behave inside and outside of the boardroom.
CEOs and mental health management: what do we currently know?
Forbes produced a compelling article on this, highlighting that “During the first half of 2020, as companies sought to steady the ship during the outset of Covid, only 71 companies in the Russell 3000 announced CEO successions. The rate was 11% lower than the average turnover level recorded in prior years.”
There is no concrete evidence to suggest that this was due to poor mental health management, but instead, this data can nod toward the impact that the pandemic had on succession and progression within organisations.
Many CEOs were thrust into decision-making that would have undoubtedly affected their mental well-being: lay-offs, lockdowns, and personal stressors which would have been difficult to verbalise.
We also know that a simple google of “CEO” and “mental health” brings up varying articles highlighting mindfulness and exercise as a one-stop-shop band-aid to put across the multifaceted, complex wound that is our mental health.
So, in this “new age” of CEOs, how can they manage their mental health?
Create a support system of peers to specifically help with the emotional burdens that come with being a CEO
You’ve heard the phrase “it takes a village to raise a child” - well, the same principle can be applied to running and scaling a successful organisation. Some of the most successful CEOs in the world aren’t solely reliant on themselves and their leaders.
The majority have an extended support system of peers, whether this is a NED, Advisor, or other CEOs in the industry. Although this may sound obvious, creating a support system that extends beyond “business” talk is more important now than ever before.
Advisors are traditionally there to offer objective, useful advice on business growth - but what happens when CEOs don’t have a support system where they can hold open, vulnerable conversations - particularly about mental health?
Perhaps it’s time for CEOs to reframe what a support system can truly look like, from an operational, and emotional perspective.
Focus on habits that are sustainable
The notion of waking up at 5 am, meditating for an hour and journaling is the social media, perfected version of CEOs that we are often fed. As the average age of CEOs becomes younger, it can be incredibly easy to assume that what we see online is completely true (even when we know deep down that it isn’t).
There also isn't a cookie-cutter remedy that CEOs can use to build healthy habits for their mental health. Instead, it should be centred around habits that are sustainable for you. If that nods towards a 5 am wake-up, yoga and meditation - then fine. But, if it doesn’t bring your mental health peace, why are you doing it?
Building sustainable habits that enable you to feel accomplished whilst also nourishing your mental health is important. As a CEO, no doubt you already focus on sustainable habits from an organisational perspective, so apply that to yourself, too.
Know when it’s time to step back
“Depression and anxiety are common among CEOs. Some researchers estimate the rate of depression for business leaders at double the rate of the general population.
CEOs experience at least as much anxiety — or more — as anyone else in the company, and it is critical to be aware when depression or anxiety impacts their lives.
Not only can this impact judgment and decision-making, but depression and anxiety can also trickle down into the company. This issue is especially important now, as depression, anxiety and suicide are all on the rise.” - Chief Executive
The trickle-down effect is prevalent in many organisations, and this isn’t isolated to CEOs only. Stressed leaders and those in positions of power can drastically influence the mood, tone, and performance of an organisation. An unhappy CEO may well be an unhappy organisation - so creating self-awareness and knowing when you need to step back is a great way to manage your mental health.
In some circumstances, it isn’t possible to simply “tap out” of your responsibilities. Instead, it’s important to create an ecosystem of leaders - much like our earlier point on having a support system - to step in and be able to take charge. Additionally, our mental health is intrinsically linked to our physical health
Look at your company culture: is it truly serving you and the rest of your leadership team?
Talking about mental health shouldn’t just happen at board or peer level. Instead, CEOs are potentially missing out on the opportunity to create a culture that is centred around taking care of everyone’s mental and physical well-being.
If this becomes part of the infrastructure, behaviours, and activities of employees - it reduces the risk of “smoke and mirrors” around mental health, and instead, becomes completely normalised.
For example, looking at benefits that are directly related to mental health are a great way to ensure access is provided to employees, whilst also incentivising employees to take advantage of it. Things like free therapy, cycle-to-work schemes, and mental health apps are all simple steps that CEOs can take.
