It’s Lonely at the Top: How Boards can Empower their CEOs

By Christie Angel, Managing Partner

At the pinnacle of their organizations, CEOs often find themselves in a paradoxical position of both power and isolation. The weight of high-stakes decisions, constant scrutiny, and the burden of steering a company's course can easily create a sense of solitude in this leadership role. To complicate matters, the hierarchical structure of organizations can make it challenging for CEOs to forge genuine connections with their subordinates, as their authority might inadvertently create a barrier to open and candid interactions. Additionally, a CEO's unique vantage point can make it difficult to confide in colleagues or share concerns without the fear of undermining their own authority or causing panic among employees.

The relentless demands of their role, combined with the perception that vulnerability is a luxury they cannot afford, often leads to a sense of isolation that is overlooked amidst the external trappings of success.

It Starts with a Network

Mitigating the loneliness experienced by CEOs begins with the concept of building a network. It’s something every professional can benefit from, but no more so than those at the top. A strong and supportive network — whether composed of trusted peers or professional coaches — provides a CEO with a sense of camaraderie as well as a safe space for candid conversations. These individuals act as confidants, offering diverse perspectives and constructive criticism.

Within their personal network, CEOs can connect with individuals who understand the unique challenges and pressures they face. It becomes a haven where they can freely discuss doubts, concerns, and strategic dilemmas without fear of judgment or repercussions. Through these interactions, CEOs can gain fresh insights and alternative perspectives, leading to better informed decision-making. This network not only alleviates the emotional burden of isolation but also fosters personal growth and leadership development, enhancing the CEO's overall effectiveness and well-being.

As a firm, our due diligence includes examining our candidates’ backgrounds to determine if they have an existing support system — a group of personal advisors, mentors, sponsors and/or peers whom the candidate trusts to provide unfettered feedback — both good and not-so-good. The establishment of this network demonstrates a sense of humility, willingness to listen to other perspectives and a commitment to a growth mindset. It illustrates that an individual seeks not only to be understood but to learn from others. Evaluating their network helps us to understand how an individual grows and whether they have healthy support in that growth.

The Role of Boards of Directors

While some CEOs come into a new position with an established network, others who are new to the position may need direction in helping to build a team of trusted advisors. In this capacity, boards act as a bridge between the CEO and a broader community of seasoned professionals, enriching the CEO's network and helping them feel less isolated at the top.

Consider coaching for years to come. A coach can be a transformative ally for a CEO, not only helping them assimilate in a healthy and productive way to their new environment but also offering a tailored approach to help them navigate the challenges of their new role. In addition to providing a confidential and nonjudgmental space to candidly discuss concerns, uncertainties, and aspirations, a coach with whom the CEO connects can help the leader develop self-awareness, refine their leadership style, and uncover blind spots.

This relationship not only helps the CEO enhance personal growth and strategic clarity but also provides emotional support and a sense of companionship in the demanding journey of leadership. Working a CEO coach into your organization’s budget for years to come will increase their well-being and effectiveness at the helm of the organization, paving the way for a long, productive tenure.

Support membership in key organizations. Membership organizations can be a vital resource in alleviating isolation for your newly hired CEO. These associations provide a platform for executives to connect with peers facing similar challenges, expanding their professional network while offering a safe space for discussing both successes and setbacks. These professional organizations also often provide access to curated educational resources, expert panels, and leadership development programs, equipping CEOs with the knowledge and skills to tackle complex issues.

Like professional coaches, membership organizations are personal. To gain maximum value, you must work with the CEO to identify the one that resonates best. Executive organizations like Vistage, Chief Executive Network (CEN) and Young Presidents’ Organization (YPO) bring together senior executives from different industries for peer support, creative problem solving, and knowledge sharing. Leaders in the nonprofit and social impact sectors can join organizations like chambers of commerce or look for peer support groups through national offices and foundation networks.

Whether industry or gender focused, local or international, by participating in groups, forums, and networking events, CEOs find outlets for engaging in meaningful discussions and exchanging valuable insights. Most importantly, they can find solace in an understanding community of their peers, combating the isolation that can come with their leadership position.

As a board, hiring the right next leader for your organization is only the beginning. Holistically speaking, supporting the organization means providing tiered support and development for all employees, including your CEO, and looking to outside coaches and membership organizations is key to helping them find their North Star. Ultimately, the board can play a valuable role in facilitating those connections and setting up the new CEO for long-term success.