Isolation – Are you lonely at the top?

Business leaders often lament that it is ‘lonely at the top’; with few realising just how truly isolated it can be in the boardroom. But just how pervasive is this problem, what are its potential impacts and why does it need to be addressed?

Feeling distant and isolated at the top is not just a matter of people not understanding leaders’ positions and circumstances – it can lead to depression, stress and a whole host of mental and physical health problems. In order to truly feel appreciated, leaders can often benefit from outside advice that without prejudice challenge and deal with issues relevant to business.

This could be behind the prevalence of executive coaching and peer support schemes today. In its International Business Report from earlier this year, for example, Grant Thornton found that more than a third (35 per cent) of business leaders around the world said they have used a business coach at some point.

For business leaders who are struggling to cope with the lack of support and peers at the very top, seeking the assistance of an executive coach or support group can be a wise step to take.

Why loneliness hurts

For many leaders, constant loneliness can accumulate and spiral into problems far deeper than most people believe. This was highlighted in a May 14 2014 LinkedIn article by Thomas Gelmi, in which the author referenced the suicides in quick succession of two top Swiss executives. As such, Gelmi claimed that personal support “is no longer a luxury” for business leaders, and executives would do well to forge relationships with “sparring partners” who can act as a source of mutual support.

The link between isolation in the workplace and depression is not new, and is something that needs to be given more attention if loneliness at the top is to be successfully addressed. UK organisation Depression Alliance investigated the matter in a study earlier this year, in which it surveyed more than 1,000 employees on how they coped with depression.

Depression is the biggest mental health challenge among working-age people and often leads to considerable loneliness and isolation at work

The survey found that a staggering 83 per cent of respondents said they have experience isolation or loneliness at work due to factors such as depression and stress. However, they may not be coping with it adequately – less than half of those who felt isolated said they confided in a colleague about the situation.

Those feeling depressed at work may certainly find it beneficial to have an ear that can listen to them, as 71 per cent of respondents who did confide in a peer said it helped.

Emer O’Neill, chief executive of Depression Alliance, said finding support is key for depressed and isolated workers.

“Depression is the biggest mental health challenge among working-age people and often leads to considerable loneliness and isolation at work,” she said.

“However, many companies aren’t properly equipped to manage employees who suffer from depression so providing support to these individuals in the workplace is essential.”

Such is the impact of isolation in the workplace that a study from the University of British Columbia suggested it is more harmful than bullying or harassment, and can lead to dissatisfaction and health issues.

“Ostracism actually leads people to feel more helpless, like they’re not worthy of any attention at all,” noted Professor Sandra Robinson, co-author of the study.

Given the potential harm that isolation and depression can bring, it’s essential that business leaders know what steps to take to overcome the problem.

What leaders want

So what should leaders be doing to reduce the chances of becoming lonely at the top? According to the 2013 Executive Coaching Survey led by Stanford University, while the vast majority of CEOs today want advice and support, not many are actually getting it.

Even the best-of-the-best CEOs have their blind spots and can dramatically improve their performance with an outside perspective weighing in.

The study found that nearly two-thirds of business leaders do not receive external leadership advice or coaching. However, practically all respondents admitted they would be “receptive to making changes based on feedback”.

“Given how vitally important it is for the CEO to be getting the best possible counsel, independent of their board, in order to maintain the health of the corporation, it’s concerning that so many of them are ‘going it alone,'” explained Stephen Miles, CEO of The Miles Group, which also played a role in conducting the survey.

“Even the best-of-the-best CEOs have their blind spots and can dramatically improve their performance with an outside perspective weighing in.”

But does having an external leadership coach really generate results? Apparently so, according to the ‘Lonely at the Top: The Importance of Mentoring for Chairmen, CEOs and the C-suite‘ study by IMD and CMi. In the study, the two organisations surveyed a range of business leaders across the UK and Europe and found that 82 per cent reported that receiving mentoring “led to improved leadership behaviours and ability to manage key relationships”.

Mentoring was also helping in other business areas, such as improved strategic performance (71 per cent) and better decision making (69 per cent).

Even in an increasingly time-pressured business environment, CEOs need not go at it alone. By seeking assistance from outside coaches, mentors and support groups of like-minded leaders, they can stay healthy, develop as a leader and drive their organisation to success.

2015 Modern leadership: working smarter not harder

As a C-level executive do you have a clear vision of what you want to achieve both personally and professionally this year? What about over the next 18 months to 5 years? You may have general ideas, however once you return to the daily operations of the business it’s likely they get buried in the demands of the day-to-day.

But how important is it to get specific and strategic about goal setting?

Many leaders feel as though they work very hard both in and on their businesses and yet they don’t achieve the results they want or the work life balance they need. A key reason is they haven’t dedicated time to think clearly and strategically about what it is they want to achieve. There is also a lack of accountability and follow through on implementation. An important step is to have a clear vision of what your leadership priorities are, and what you want to achieve; having a clear vision.

“More than 80% of the 300 small business owners surveyed in the recent 4th Annual Staples National Small Business Survey said that they don’t keep track of their business goals, and 77% have yet to achieve their vision for their company,” writes Peter Vanden Bos for Inc.

What if we told you the solution is to work smarter, not harder?

In New York Times bestseller What They Don’t Teach You at Harvard Business School, Mark McCormack shares an interesting study that was conducted in 1979 on Harvard MBA students revealing the real impact of goal setting.

He asked students whether they had clear, written goals for their future and made plans to accomplish them.

84% of students admitted they had no goals at all, while 13% had goals that weren’t written down. In fact, only 3% had specific goals in writing.

When interviewed 10 years later, the 13% of students who had goals were earning on average twice as much as those who had never established clear goals.

However, the 3% with written objectives for success had salaries that were a staggering 10 times as much as the other students put together

Goal-setting paybacks

Identifying effective goals and setting a plan to achieve them helps leaders organise resources, streamline knowledge acquisition and raise motivation, particularly on long-term projects and objectives.

This has a significant impact on productivity that is difficult to ignore, both on a personal and professional level. Whether you’re a business leader, a top athlete or a high achiever in any other field, establishing goals provides the additional focus that is essential to reaching the top.

American business consultant and author Jim Collins offers similar advice, which is why he’s famous for coining the term ‘Big Hairy Audacious Goals’ – or BHAG.

The phrase refers to the long-term proposals that are the hallmark to some of the world’s most successful business leaders. “It is about goal setting. It is about picking a goal that will stimulate change and progress and making a resolute commitment to it,” Collins explains. “This is not about writing a mission statement. This is about going on a mission.”

Working smarter, not harder

The SMART format for goal setting has been around for many years and it’s a common practice among high achievers, as it establishes a helpful framework for gauging the effectiveness of goals and objectives.

Specific – target a specific area for improvement.
Measurable – quantify or at least suggest an indicator of progress.
Achievable – specify who will do it.
Results orientated – state what results can realistically be achieved, given available resources.
Time sensitive – specify when the result(s) can be achieved.

Goals that meet this criteria have a much better chance of positive outcomes, in Peter F. Drucker’s popular HBR article What Makes an Effective Executive he states  ‘executives are doers; they execute. Knowledge is useless to executives until it has been transformed into deeds. But before springing into action, the executive needs to plan their course’.

‘Without an action plan, the executive becomes a prisoner of events. And without check-ins to re-examine the plan as events unfold, the executive has no way of knowing which events really matter and which are only noise’.

Ultimately, leaders who set goals both personally and professionally have the direction and focus required to pursue powerful strategic objectives. Modern leaders have the ability to set and achieve progressive goals and distil this into business metrics.

So how do you drive strategic goal setting? Every leader has business obligations whether it’s focused on innovation, becoming the premier distributing vendor, taking your company public or creating the best consumer experience. TEC Goal Setting is an effective way to incorporate this into your personal and professional life through a highly customised learning experience, credible resource of content and accountability.