Many C-suite executives want to quit because of burnout: survey

According to the results of a Deloitte survey released Wednesday, more than two-thirds of executives in corporate America’s highest-earning C-suites say they’re thinking about quitting their jobs because of burnout.

The survey found that 69% of C-suite executives said they “seriously considered quitting for a job that better supports their well-being”. That was compared to 57% of regular employees who gave the same answer.

Similarly, 56% of C-suite executives said they had already left a job in the past because it negatively impacted their well-being, compared to 48% of employees.

“One reason for the difference may be that compared to employees, executives are often in a stronger financial position, allowing them to pursue new career opportunities at their own pace.” Deloitte researchers said in a report on the research results.

Management morale appears to have deteriorated since the onset of the COVID-19 pandemic – with 76% of C-suite employees reporting it had a negative effect on their overall well-being.

upset employee
Managers were more likely to consider quitting than regular employees.
Getty Images/iStockphoto

But an acknowledgment among executives about their own feelings of burnout has yet to translate into better relationships with employees experiencing the same problem, the study finds.

While 91% of executives said they felt employees believed the company cared about their well-being, only 56% of employees said they believed their company’s executives supported them.

“It’s a remarkable gap, one that the C-suite needs to address,” added the authors of Deloitte’s study.

Those who left their jobs soared to record highs in recent months as workers took advantage of a tight labor market to seek better opportunities. The exodus of workers has become popularly known as the “Great Resignation.”

About 4.4 million Americans quit their jobs in April, according to federal data. Meanwhile, employers had about 11.4 million job openings that month.

However, experts warn that the conditions under which workers were able to leave their jobs could quickly evaporate if the Federal Reserve raises interest rates to fight inflation. Employers tend to cut jobs and cut budgets during a period of tighter economic policies.

Billionaire real estate mogul Stephen Ross suggested that the onset of a recession could prompt workers who resist plans to return to the office to change their tone due to the possibility of layoffs.

Earlier this week, former Treasury Secretary Larry Summers warned that the national unemployment rate, which currently stands at 3.6%, likely to rise significantly while the Fed takes steps to lower prices.

The survey, conducted by Deloitte and Workplace Intelligence, measures responses from a total of 2,100 respondents in the United States, United Kingdom, Canada and Australia. The research pool consisted of 1,050 C-suite executives and 1,050 employees.

The survey was conducted by email from February 8 to February 21.

Leave a Comment

Your email address will not be published.