CEO Tenure Success: 4 Habits To Thrive In A High-Pressure World

Despite the perks, being a CEO is far from a walk in the park.

It’s no secret that the pressures of the C-suite, especially for CEOs, continue to intensify with no signs of slowing down. CEOs are tasked with shaping culture, representing the company’s values, and delivering results as the face of their company. With expectations mounting and patience for turnarounds shortening, the role has become more demanding than ever. When companies struggle, it’s generally thought that the employees are only affected. However, in actuality, CEOs are affected as well.

According to Reuters, CEO tenures are shrinking, especially in retail and consumer goods industries, as boards act faster to course-correct during turbulent times. Over half of the Fortune 500 companies from 2003 no longer exist today. The numbers are even starker in the S&P 500. A study by Equilar found that median CEO tenure has decreased by 20%—from six years in 2013 to 4.8 years in 2022. Nearly 40% of S&P 500 CEOs serve between one and five years, with another 28% between five and ten years. For CEOs determined to stay at the top of their game and outlast these shrinking averages, here are four often-overlooked tools to help extend your tenure beyond tactical adjustments.

1.Think of Yourself As An Executive Athlete

You don’t need to be a professional athlete to operate like one. In fact, as a CEO, you’re in the ultimate sport—business. While most athletes’ careers last 5 to 10 years, CEOs and business leaders have careers that span decades. CEOs often focus on building alliances and relationships to protect their role, but they can’t neglect their personal well-being. Beyond making clear-headed strategic decisions, resilience is critical in navigating the inevitable challenges and setbacks of the CEO role.

Just as athletes prioritize training and recovery for optimal performance, CEOs must maintain their physical and mental health for optimal executive performance. Record numbers of CEOs are quitting, with Challenger, Gray, & Christmas reporting 622 CEO departures in the record-breaking first quarter of 2024. Stress is part of the job, but routine health checkups, regular exercise, adequate rest, and maintaining strong personal relationships provide an essential buffer that will help your physical, mental, and emotional well-being. CEOs, like athletes, must be meticulous in managing their health—whether they’re in the office or on the road.

2.Don’t Lose Your Identity

Being a CEO brings prestige and perks, but it also comes with a great deal of pressure, scrutiny, and the necessity of making hard decisions that often affect individuals and their families. From the outside, people see the high salary, private flights, and other benefits, but they rarely glimpse the intense loneliness, incessant rumination, and heavy burden of responsibility.

A staggering 55% of CEOs have faced mental health challenges in the past year, underscoring how burnout is agnostic toward titles and positions. One of the greatest, yet least discussed, threats to CEO longevity is the toll the job takes on overall personal well-being—physically, mentally, spiritually, and emotionally. To preserve your mental health and mitigate burnout, don’t let the role consume your entire identity. You’re not just a business leader but also a spouse, parent, friend, and much more. Maintaining hobbies and interests outside of work is essential to staying grounded, feeling fulfilled, and maintaining your sense of self.

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3.Embrace and Leverage Your Personal Brand

CEOs have always been the public face of their organisations, but personal branding has never been more crucial in today’s world. A strong personal brand sets you apart, improves visibility, and builds credibility and trust with your audience. According to a 2016 Journal of Human Resource and Sustainability Studies study, “The personal brand of a CEO is likely to be more effective at generating goodwill and brand equity than a corporate brand alone, if only because society trusts personalities more than it does businesses.”

In an increasingly technological base world where authenticity is often lacking, a personal brand humanizes you and builds a genuine connection. The same study found that audiences connect 100 times faster with a CEO’s personal brand than a company’s product. While this level of exposure brings additional scrutiny, the benefits far outweigh the risks. Start by strengthening your executive presence and, thus, your overall personal brand.

4.Stay Curious and Malleable

Research from the Society for Personality and Social Psychology shows that around 40% of our daily activities are driven by habit, often performed in the same situations and sequences. As humans, we crave routine and certainty, and this extends to our professional lives. However, becoming entrenched in familiar ways of thinking can lead to stagnation for CEOs.

While you can’t control external factors like market forces or geopolitical events, you can control your approach and mentality. Staying relentlessly curious is key.  Stay connected with employees and customers, learning from diverse perspectives and upcoming trends. CEOs who listen, learn, stay malleable, and remain open to new ideas are better positioned to avoid complacency and stagnation. Getting outside, whether through nature or networking, is a way to generate new ideas and perspectives and benefit your health.

Whether you’re leading a global or national company, a startup, or a small or mid-sized enterprise, the stakes are higher than ever. Shifting consumer demands, advancing technology, and increased accountability bring personal and professional challenges that can threaten your tenure. But by prioritising your personal well-being alongside your professional duties, you will be better equipped to navigate these challenges—and extend your time at the top.

Interesting Fact: nearly 80% of CEOs have either hired an Executive Coach or at least inquired about coaching.

Book you complimentary 30 minute introductory  call – just email and we will get back to you: coaching@dsaexecutive.com

Adapted from Julian Hayes II Sept 2024

Forbes