Article published in the newspaper El Espectador: https://www.larepublica.co/analisis/daniel-lopez-hincapie-2889790/la-paradoja-de-la-soledad-de-los-ceo-1-3-4072034
A few weeks ago, I encountered a scene that I have seen repeated throughout my consulting career. A president of a company with more than 5,000 employees confessed to me, almost with embarrassment, that he was unsure if his decisions were correct, but he also didn't want his team to perceive doubts in his leadership.
I asked him with whom he contrasted his decisions and challenged his biases. It is human to hesitate when faced with our own paradigms and complex decisions, but to fail to act in the face of that uncertainty in a leadership role is arrogance.
His response was:
"The top is lonely. I was hired to make decisions and transmit security, not doubt."
This conversation reflects a phenomenon little studied in the business world and even less in Colombia: the paradox of CEO loneliness.
A Harvard Business Review study revealed that 50% of CEOs experience loneliness and 61% believe it negatively impacts their performance. The phenomenon is even more pronounced for first-time CEOs. In contrast, an HEC Montreal study of 147 Canadian senior executives found that only 25% reported this phenomenon. The magnitude of the problem is still uncertain.
However, this phenomenon is not exclusive to CEOs. Anyone who assumes a role of authority can experience it. From a newly promoted manager to an entrepreneur, the feeling of isolation arises with increased responsibilities and the pressure to demonstrate seniority and expertise.
The organizational top is a lonely space, loaded with pressure for results. It is paradoxical that someone with a full schedule of meetings, travel and social commitments can experience loneliness. This is because loneliness is not only related to the absence of interactions, but to the emotional and social quality of these relationships, as well as self-imposed expectations.
According to the U.S. National Institute on Aging, prolonged loneliness is as harmful as smoking 15 cigarettes a day and can reduce life expectancy by as much as 15 years.
In addition, a study by Wharton, University of Pennsylvania (CEO Stress, Aging and Death) revealed that each crisis faced by a CEO can reduce his or her life expectancy by up to 1.5 years.
If loneliness in power impacts the health of our CEOs, as evidenced by studies, addressing it is not only an ethical imperative, but also a strategic and competitive one, why do we continue to ignore this phenomenon? The idea that a CEO must project absolute security is not only obsolete, but dangerous for both the leader and the organization.
We need to rethink leadership. A strong leader does not decide alone, but creates spaces where his or her decisions are stressed, enriched and validated. We must normalize vulnerability at the top, foster support networks and dismantle the belief that doubt is synonymous with weakness.
How lonely have you felt in power? The answer, I anticipate, is correlated with your leadership habits, but we'll explore that in the next column.
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