Is it lonely and stressful at the top?

Given my experience as a former CFO, CEO, and Chairman of Baxter International, a global healthcare company, as well as my ongoing chairmanship of multiple company boards, I am often asked by my Kellogg MBA students and Kellogg Executive seminar participants:

“Harry, is it true that it is lonely and stressful at the top of organizations?”

My opinion is that yes, it can be lonely and stressful at the top, but it definitely does not have to be. Let me explain.

Much has been written on this topic. Interestingly, it is a concept that’s even celebrated as a sign of ultimate success — i.e., being “number 1” means you’ve distinguished yourself from the “herd” and stand alone at the top of your game.

Undoubtedly, there are leaders who apply this mindset to how they view success in companies as well. They believe they need to have all the answers and deal with all of the challenges in the senior position by themselves. They do not surround themselves with a strong team, and they do a poor job of delegating to the team. Having a large ego and believing it’s all about you makes the situation even worse. As a result, the senior position becomes extremely lonely and very stressful.

However, I encourage leaders to take a very different approach when ascending to a senior position. As you advance to senior positions in an organization and take on more responsibility, the key question becomes how you manage the increased responsibility. Yes, it is true that with increased responsibility there is more work to get done. But keep in mind, I do not believe it needs to be more difficult.

Why? Think of it this way. When you are a first-level manager, you may have eight junior analysts on your team to help you get the job done. However, when you become a senior executive, for example, an executive vice president, you will have eight senior vice presidents working for you. Assuming (and yes, this is an assumption) that you have chosen eight senior vice presidents that are well-qualified, that you create a strong team and culture, and that you delegate appropriately, your job should not necessarily become more stressful than it was when you were a first-level manager. Said another way, as you advance in the organization, the people you select to help you manage the more senior role are also more experienced and senior. If, by the way, this is not the case, you need to replace them with people that are more qualified.

Another way to reduce the stress in senior positions is what I address in my book, “Your 168.” The key is to make sure that you spend time focusing on “life balance.” Making sure that you are getting exercise, eating healthy, and overall pacing yourself. As I mention to executives very often, it’s not a sprint, it’s a marathon. If you don’t pace yourself and take the time to reflect on what is really important in your life, how can you possibly pursue life balance?

Now let’s discuss the issue of “loneliness.“ If you are developing a strong team, keeping them well informed, constantly getting their input, sharing with them all of the challenges you are facing, and making sure they know that you want their input, then you are on the way to becoming a values-based leader and you can significantly reduce the chance that you will be lonely.

You can further reduce loneliness by making sure the team knows that you are willing to change your mind if they have better ideas.

It is clear to me that being self reflective and surrounding yourself with people that are also self reflective will make you a stronger leader and reduce both stress and loneliness. Good luck as you continue your marathon.

Photo by Mahdi Dastmard on Unsplash