C-Level executives are joining in the great resignation for many of the same reasons as their employees (read more about employee resignations here —> https://kleinhrsolutions.com/how-to-retain-quality-employees-during-the-great-resignation/) , as well as a few different reasons too. These C-Level executives are under intense amounts of pressure, more than ever before. Most of this additional pressure is due to the pandemic, and it’s taking a toll on them in many ways.
Here are five reasons why C-Level executives are participating in the great resignation:
- Pandemic related stress
- Low self-esteem
- Lack of motivation
- Company scandals
- Company strategy changes
Pandemic Related Stress
It’s no surprise that the pandemic has caused an extreme amount of uncertainty around the world and the corporate world is no exception. According to the APA, pandemic related stress has created some serious health consequences (read the full story here: https://www.apa.org/news/press/releases/stress/2021/one-year-pandemic-stress). In this article it lists different methods people are using to cope with the added stress including increased alcohol consumption. Plus they also discuss the effects of the stress which include weight gain/loss, change in sleep patterns and more. It is no coincidence that these coping mechanisms and significant changes in day to day life have affected the workforce as well.
Low Self Esteem
Being a C-Level executive at a large corporation is no easy task. Add pandemic stress, employee turnover, production changes, personal issues and everything else to the list and it’s no wonder low self esteem has made the list of why C-Suite executives are stepping down.
Lack of Motivation
If a company’s production has been affected drastically by the pandemic with no end in sight, a lack of motivation is easily explainable. It can be difficult to get motivated, especially if leading a company that has been turned upside down by current events.
A company scandal can cause a C-Level executive to resign, and quickly. This article from The Ladders lists the 10 biggest company scandals of 2020 (https://www.theladders.com/career-advice/the-10-biggest-company-scandals-of-2020).
Company Strategy Changes
A change in strategy to a company that a C-Suite executive doesn’t agree with can cause them to choose to exit the business. Changes in strategy can include sales, service, scheduling, etc. When these things happen and the C-Level executive doesn’t feel it was a good shift for the business, they may decide to step down.
While many executives have chosen to resign, there are still others who are willing to continue working to develop strategies that will change the future of their companies for the better. This trend in resignations may be a temporary point in time and look forward to a more stable workplace.
Is your company dealing with resignations and turnover? Whether it’s C-Level executives or employees, Tammy at Klein HR Solutions can help support and bring new innovative ideas on how to prevent the trend from continuing.
Contact Klein HR Solutions:
Call (305) 775-5640 or e-mail: [email protected]