What does it mean to be a CEO? For many people, taking a top-level position with a company is equated with long hours, weekends at work, and too many responsibilities. But the stereotypical expectations of a CEO often do more harm than good. Burnout is common in the C-suite, even though it’s possible to avoid it.
If you’re concerned that you’re taking on too much in your role as the CEO or are starting to experience the signs and symptoms of burnout, outsourcing as much as possible, such as by working with a virtual CFO, can keep you from burning out.
What Is Burnout?
Burnout is a type of stress associated with work. It’s a form of exhaustion that’s mental, physical, and emotional. While it’s not officially a medical condition, it can have a significant impact on your life. When you’re experiencing burnout, you’re likely to be less motivated and feel negative about your work. Burnout can turn a job you love into a nightmare.
How Does Burnout Affect CEOs?
While burnout can happen to employees at any career stage, it can be particularly harmful when it develops in CEOs. CEO burnout can have adverse effects on the person experiencing the burnout and on the company they are trying to lead. A few examples of the effects CEO burnout can have on companies include:
- Increased employee turnover: It can be challenging to engage employees when the CEO themselves feels apathetic or disconnected from the company.
- Lowered productivity: The company’s productivity can take a dip when the CEO is exhausted.
- Lack of innovation or strategy: A burnt-out CEO may not be inclined to focus on the business’s future, which can lead to a drop in innovation or a lack of strategy or plan.
Burnout Management Tips for CEOs
You’re probably familiar with the recommendations for preventing or reducing CEO burnout, such as taking time for yourself and making sure you get enough sleep. Practicing self-care can go a long way towards managing burnout, but it can only go so far. For best results, combine self-care practices with building a strong network. You need people to whom you can delegate responsibilities and tasks. Ideally, those people will be individuals you can trust to do as good, if not better, of a job as you.
How a vCFO Can Help to Prevent Burnout
CEOs, particularly at younger or smaller companies, often feel that they need to take on the responsibility of managing their business’s finances. But that task can soon prove to be overwhelming and can make burnout worse.
Your company may not have the funds to hire a full-time CFO to support the CEO. But that doesn’t mean you can’t take advantage of the expertise and services a CFO would offer. An outsourced or virtual CFO can step in to manage your company’s finances on a part-time basis. They’re there when you need them and can provide the insight your company needs to grow.
Hire your virtual CFO to help reduce CEO burnout.
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