Challenging Notions of Success:
CEOs, Resilience, and Happiness

Meet Sarah and Mark, two successful CEOs in different industries. On the surface, Sarah appears to have it all – a lavish lifestyle, luxurious vacations, and substantial wealth. In contrast, Mark lives more modestly, prioritizing frugality and contributing a significant part of his income to charitable causes. You might think Sarah is happier due to her wealth and extravagant life, while Mark, despite his modest living, might seem to struggle more. This essay explores and challenges the notion that financial success guarantees well-being.

In today’s corporate world, stress is rampant, affecting employees’ well-being and organizational productivity. The pressures of modern business environments can be overwhelming, and it’s not just the employees who bear the brunt. CEOs, the leaders of these organizations, also grapple with high-stress levels and unique challenges. However, there’s a growing realization that resilience, the ability to bounce back from adversity, plays a crucial role in combating workplace stress and improving mental health.

Cindy Kermott et al., in their study titled “Is higher resilience predictive of lower stress and better mental health among corporate executives?” shed light on the stress epidemic in the corporate realm. They emphasize the shocking statistic that “The large inverse association of resilience with anxiety and depression was noteworthy, with an almost 3-fold higher prevalence of anxiety and a 4-fold higher prevalence of depression in the lower-resilience group compared with the higher-resilience group.” This survey of executives found that those with higher resilience reported a better quality of life, lower stress, and a lower prevalence of mental health issues like depression. These benefits remained consistent across various factors like education, age, gender, and income. The study aligns with previous research, indicating that promoting resilience in the corporate setting could help alleviate the negative impact of workplace stress on mental health. However, it acknowledges limitations, such as its cross-sectional design and reliance on self-reported outcomes.

Personal and professional growth is a fundamental part of self-improvement. This journey involves continuous learning, skill development, and the pursuit of challenging goals. For CEOs, this journey is ongoing and equips them with resilience and effective coping mechanisms to handle the stress of their demanding roles. Justin Berg, an assistant professor at Stanford Graduate School of Business, suggests that embracing growth, both personally and professionally, enhances an individual’s ability to withstand stress. This implies that the pursuit of self-improvement is not solely about achieving success but also about fostering resilience.

Happiness isn’t solely about wealth and luxury. It’s about finding purpose and contributing to the greater good. Many CEOs actively engage in philanthropic initiatives and create positive societal impacts. Take Bill Gates, for example, who, through his foundation, exemplifies how contributing to society provides a profound sense of purpose. These acts of philanthropy and contribution often bring immense fulfillment and happiness to CEOs, transcending the boundaries of financial success. There are different facets of well-being, and it’s not limited to a hedonic pursuit of pleasure. Eudaimonic well-being, which centers on finding meaning and self-actualization, stands in contrast to hedonic well-being. People who actively enjoy the small victories in life and have resilience tend to experience eudaimonic well-being, which is closely linked to enduring happiness and contentment. It’s not only about fleeting moments of joy; it’s about a deep and enduring sense of well-being. 

Cath Everett, a journalist writes about her conversation with psychotherapist and mindset coach Ella McCrystal in her article, “Why CEOs’ mental health is business-critical”, McCrystal says “Many CEOs have quite an obsessive nature, which helped them get to the top in the first place, but it can make them single-minded about work and lead to self-sabotage,” McCrystal says. “Or they can just be so dissociated from themselves and so focused on the tasks at hand that they don’t realize they’re burning out.” McCrystal’s insight highlights a paradox among achievement-driven individuals, particularly CEOs. Their obsessive focus on success, while propelling them to the top, often leads to a single-minded pursuit of tasks, potentially resulting in self-sabotage. The quote emphasizes how this relentless drive can cause dissociation from personal well-being, leading to burnout. For such individuals, the pursuit of achievements becomes a perpetual quest for fleeting moments of joy, overshadowing a balanced and sustainable approach to happiness. The cycle of constant achievement may offer momentary rewards but risks a disconnection from a holistic and fulfilling life.

Contrastingly, those individuals striving for perfection often experience heightened anxiety, dissatisfaction, and chronic stress. Perfectionism can be a double-edged sword, often leading to more harm than good. On the other hand, mindfulness emphasizes improvement and resilience, minimizing the negative impact of perfectionism. A growth mindset, characterized by the belief in one’s ability to develop and improve, plays a crucial role in attaining happiness. It promotes an ongoing path of self-improvement and adaptation, empowering individuals to overcome challenges and sustain a positive outlook.

In exploring the lives of CEOs Sarah and Mark, it becomes evident that Mark possesses a unique ability to synthesize happiness by being present in the moment and relishing the small victories of life. While Sarah’s opulent lifestyle might suggest a pathway to contentment, it is Mark’s intentional choices and mindfulness that provide a deeper understanding of genuine well-being.

Mark’s modest lifestyle, characterized by frugality and a commitment to charitable causes, reflects a deliberate choice to prioritize meaning over material excess. This intentional decision underscores Mark’s ability to find joy in simplicity and highlights his capacity to synthesize happiness from experiences that extend beyond financial success. By actively engaging in philanthropic endeavors, Mark not only contributes to societal well-being but also discovers a profound sense of purpose and contentment in making a positive impact.

Furthermore, Mark’s resilience, as demonstrated through his ability to bounce back from challenges, positions him to appreciate the present and derive happiness from everyday moments. The act of giving, coupled with a mindful approach to life, allows Mark to find joy in the journey rather than fixating solely on the destination. His capacity to synthesize happiness lies in the appreciation of life’s small victories, fostering a deeper and more enduring sense of well-being.

In contrast, Sarah’s opulence may not inherently provide the same opportunities for synthesizing happiness. The pursuit of lavish experiences and material wealth, while offering moments of pleasure, may not necessarily contribute to a sustained and authentic sense of contentment. Mark’s story serves as a reminder that true happiness often emerges from cultivating gratitude for the present, finding meaning in one’s actions, and savoring the simple joys that life has to offer.

In essence, Mark’s ability to synthesize happiness goes beyond the external trappings of success. It is rooted in mindfulness, resilience, and a conscious choice to derive joy from the journey. His story encourages us to reconsider the sources of genuine well-being, emphasizing the importance of being present in the moment and embracing life’s little victories as integral components of a fulfilling and happy life.

In conclusion, the essay challenges the conventional belief that financial success guarantees well-being by examining the lives of CEOs Sarah and Mark. It addresses the prevalent issue of stress in the corporate world and underscores the vital role of resilience in mitigating workplace stress, drawing on studies and expert insights. The exploration expands to distinguish between hedonic and eudaimonic well-being, showcasing how CEOs contributing to society can find profound purpose and fulfillment beyond financial success. The concept of synthesizing happiness is introduced, emphasizing that individuals who actively enjoy small victories and cultivate resilience tend to experience enduring well-being.

References

05, J., | by Corey Binns, Binns, C., Berg, J. M., Wrzesniewski, A., Grant, A. M., Kurkoski, J., & Welle, B. (2022, July 5). Take this job and love it: How a growth mindset can boost happiness at work. Stanford Graduate School of Business. https://www.gsb.stanford.edu/insights/take-job-love-it-how-growth-mindset-can-boost-happiness-work

Everett, C. (2023a, May 2). Why CEOS’ mental health is business-critical. Raconteur. https://www.raconteur.net/leadership/ceo-mental-health#:~:text=A%20survey%20by%20Deloitte%20last,to%20reset%20their%20emotional%20balance.

Kermott, C. A., Johnson, R. E., Sood, R., Jenkins, S. M., & Sood, A. (n.d.). Is higher resilience predictive of Lower Stress and better mental health among corporate executives?. PLOS ONE. https://journals.plos.org/plosone/article?id=10.1371%2Fjournal.pone.0218092