Business, culture, economy…it all looks different today than it did just a few years ago. The fast and sudden changes leaders faced were not easy. Even with some hardships behind us, the daily pressure executives find themselves in today may feel insurmountable. And while job-related pressure is not new, it may be taking its toll and putting C-Suite retention at risk.
What about the team these executives manage? Do C-Suite leaders worry that their teams are at risk of having retention issues as well? They might be, which can add to their stress. Team members who would like to move up to larger roles may not be interested if moving up in the corporate hierarchy does not include the job flexibility he or she desires.
Ready for Change?
According to CFO, 58% of Gen Z executives wanted to leave their current role, compared to other generational executives. It seems that “executives still have trouble finding a balance between longevity and ambition.”
Change is inevitable, even at the top of the corporate ladder. And, while older executives may not be as restless as their younger counterparts, younger executives may be ready for something new. The challenge may be finding the right work-life balance so that top executives continue in their current role.
Retaining Top Talent
With the ever-changing face of business, burn out can happen at any time, even at the top. Strategizing for a work-life balance among the C-Suite is something to plan for before a company is struggling to fill a leading role within the firm. Consider implementing a couple of simple steps to keep top executives happy and more engaged in their current role within the organization.
- Cultivating A Positive Culture – creating a culture where praise and positivity is the norm are important, even at the C-Suite level. According to Forbes, “…taking pride in a mission and working to uphold the values of the company is fundamentally what creates culture.”
- Working Remotely – while working remotely is acceptable these days, executives may feel the pressure of coming into the office on a daily basis. However, working remotely for part of the week may offer some flexibility and perhaps even some life-balance that commuting into an office on a daily basis does not offer.
- Vacationing – while a team member may plan on a yearly vacation, it may not come as a surprise that top executives may not plan for a vacation, especially if they feel they do not have the luxury of taking time off, even for a week. After all, they are running the company. However, this is exactly why top executives should consider a yearly vacation, as everyone needs time to rejuvenate and relax. Taking some well-earned time off can bring a renewed sense of purpose to their role.
Tools at your Fingertips
Looking outside of the organization for retention strategies may be helpful. For instance, executive coaching offers an opportunity to continue to grow one’s skill set, allowing for more satisfaction in the workplace or even advancement opportunities that one may desire within the organization. If remote work or vacationing still finds the C-Suite looking for a bit more fulfillment, perhaps offering other opportunities may be what you or your team need.