The Reality of Loneliness in Business
You’re an experienced business owner, or perhaps you’ve just moved into a new leadership role. You’re progressing in your career, you love what you do, but suddenly this new feeling sets in. You’re in the role and you feel isolated, and a bit lonely. Well you’re not alone. Forbes reports around 50% of CEOs report feeling lonely, and feel it impacts their performance. But it’s not just those at the very top. The highest figure is up to 56% in micro-businesses, and in fact, 97% of employees in senior roles, have reported feeling lonely in their role at some point in their career. A variety of factors contribute to this, reduced peer group, increased responsibility and social distance (no, not the Covid kind). It’s not personality-driven, but role-driven. It’s caused by authority barriers, fewer ‘safe’ relationships, and isolation when making decisions, lack of support and sole pressure making decisions.
The psychological impact on leaders
Loneliness in management and business often is linked to overthinking, reduced motivation and lower performance. It’s a catch 22 situation, with a lack of performance, a business can’t grow, keeping you lonely at the top.
Ultimately, loneliness can cause the following:- Structural isolation: The hierarchy reduces honest relationships, isolating you from feeling part of a team.
- Role conflict: Being “the boss” vs being a person leaves you constantly battling internally.
- Decision burden: With fewer people you can confide in, you feel it’s all on your shoulders, adding on extra pressure.
- Social distance: Because of your ‘status’ in the company, it’s harder to maintain peer-level friendships.
- Expectation of resilience: There’s a pressure to appear strong, possibly making you feel you’re never really being your genuine self.
- Acceptance mindset: Many leaders normalise loneliness and don’t seek ways to resolve it, just struggling in silence.
- And rather dramatically, there can be an impact on long-term wellbeing and physical health: On the extreme end of the spectrum correlations have been made between heart disease and strokes. More can be read in this study – https://heart.bmj.com/content/102/13/1009
What can you do to resolve it?
The first thing is to recognise, it is not a personal shortcoming, it’s the way the structure has been set. Fewer people you can lean on, more responsibility. But there are a few things you can ‘engineer’ to make it a little easier on yourself.
- Find your community: Find peers, networking groups, connect with fellow business owners. They may well be experiencing the same feelings of loneliness in their own businesses. They’ll be able to relate much more than family or friends who aren’t in the same situations. Talking helps. You know what they say, a problem shared is a problem halved.
- Networking: Okay so I haven’t met many people who actually enjoy networking, but it’s a great way to build relationships with those on a similar level. It can also push you outside of your comfort zone, and give you more confidence. It may not be a ‘cure’ but increased confidence will help with feeling isolated, as well as connecting to like-minded people.
- Recognise no matter how hard you try, you can’t do it alone: You need to lean on others, whether that’s delegating, or sharing responsibility for decisions. Look at your team, and understand each person’s strengths. Think how you can use those to lighten your load, give them more satisfaction in their role, and feel they’re contributing at the same level. It takes some of the weight off while giving you someone who can relate to a specific area of your business.
- Open up a little more. You can’t share everything, but there will be some things you can share. Transparency is rarely a bad thing. Build a culture where differing opinions are welcome and safe. Invite challenge and critique, letting your team be part of the thinking process.
- Look at the decision structure. There will be some decisions that you don’t need to make alone. This goes hand in hand with the above point about transparency. Define what really does need to be your own decision vs what you feel comfortable sharing. It doesn’t remove all responsibility, but it lessens the pressure and reduces that sense of being the only brain in the room.
- Find a mentor. This wont be for everyone, but sometimes, just a little encouragement, talking things through, and having a sounding board for your strategy, allowing you to ‘think outloud’ can really help. We’ve worked with Phil Griffin previously and seen the kind of work that has given business owners not only confidence, but an uplift in their revenue and business growth. https://www.pgriffinconsulting.co.uk/
So yes, it’s lonely at the top, but just know that ironically you’re not alone in that feeling!
Sources:
https://www.thealternativeboard.co.uk/insights/the-loneliness-premium-what-isolated-leaders-cost-their-businesses https://www.sussexinnovation.co.uk/news-resources/the-loneliness-of-being-a-founder/ https://www.researchgate.net/publication/325436449_Lonely_at_the_Top_How_Do_Senior_Leaders_Navigate_the_Need_to_Belong https://www.sciencedirect.com/science/article/pii/S2213058615300097?ref=pdf_download&fr=RR-2&rr=9ef4ac9ecbe3cbb1 forbes.com/councils/forbeshumanresourcescouncil/2024/01/30/a-question-missing-from-senior-leadership-interviews-are-you-lonely/?streamIndex=0#:~:text=Half%20of%20CEOs%20and%20senior,negatively%20impacts%20their%20work%20performance https://dobetter.esade.edu/en/loneliness-leadership