What is the impact of untreated poor mental health within the elite executive context?

Financial

On a global scale, the World Health Organisation reported in its guidelines on mental health at work[1] that across the workforce, twelve billion working days are lost every year to depression and anxiety alone, at a cost of US$1 trillion year on year. The Stevenson-Farmer Review (2017[2]) stated that UK employers suffer a direct cost of £33-42 billion a year because of poor mental health at work.

Talent retention

We are in an era of high CEO turnover. Challenger, Gray and Christmas Inc have reported that CEO changes in US companies are rising, with over 650 leaving roles in 2022 and 70% of the remainder considering leaving, generally in the hope of improving their wellbeing. Similarly, Visier have reported 70% of C-suite executives claim feeling burnout, and that these rates are more than those reported in their direct reports. Attending to mental health is therefore important when it comes to retaining executive talent.

Culture

Additionally, evidence has shown that the character  and style of leadership at the top of organisations influences the performance and culture at all levels. Barnard articulates this well when stating that “dysfunction at the top tends to infect an organization”. Those suffering from mental health conditions who are not being expertly supported are unlikely to be able to maintain a style of leadership that will support a thriving culture. Conversely, leaders who are seen to have put in measures to attend to their own mental health and wellbeing and to visibly prioritise this, have an important role in creating a de-stigmatising culture that encourages others in their organisations to do the same. It is however difficult to be open and honest about one’s mental health when mental health symptoms are at their most challenging. Discrete, effective psychiatric expertise may well therefore, need to be accessed before such steps can be taken.

 Performance

The “Williams Pressure Performance Curve” (1994) displays that performance is optimal when in what is referred to as the “stretch zone” but declines when “stretch” becomes “strain” and eventually becomes “overwhelm”. If a director continues to work in a state of stress then a fall in personal effectiveness is inevitable, which then impacts on business performance.

[1] WHO guidelines on mental health at work. (2022) World Health Organization. Last accessed online 21.5.2023. [Available at]: https://www.who.int/publications/i/item/9789240053052

[2] Thriving at work. The Stevenson/Farmer review of mental health and employers. October 2017. Last accessed online 21.5.2023. [Available at]: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/658145/thriving-at-work-stevenson-farmer-review.pdf