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CEOs are becoming less powerful, says work expert Adam Grant
CEOs are influential and highly paid, but long hours, high stress, and uncertainty about the future are leading to “CEO burnout” and disinterest in leadership roles among young workers.
CEO is one of the most influential and highly-compensated jobs in the world, but according to organizational psychologist Adam Grant, the overwhelming feeling he senses from business leaders right now is one of “powerlessness.” With so many uncertainties and risks right now—climate change, crumbling democracy, powerful new advances in AI—CEOs are putting their heads down to focus on short-term gains instead of preparing for the long-term futures of their organizations.
On GZERO World, Ian Bremmer asks Grant, who studies leadership and culture in the business world, what he makes of this shift, and whether CEO incentives need to change. Grant sees a growing disinterest among young workers in taking on leadership roles, pointing to long hours, short tenures, and a growing sense that it’s unclear how much good they can do, if any, from the executive c-suite. All this contributes to what Grant calls “CEO burnout,” and he said he hopes to see more companies with co-CEOs, which is better for business and workers.
“I think the job [of CEO] is just so big and complex that it’s hard for one person to have all the skills you need,” Grant explains.
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Catch GZERO World with Ian Bremmer on US public television every week. Check local listings.
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5: Five countries — Australia, Canada, the UK, New Zealand and Lithuania — have so far joined the US in refusing to send government officials to the Beijing Winter Olympics in February over China’s human rights abuses. China’s Foreign Ministry on Thursday said these states would “pay the price” for the diplomatic boycott.
52: US unemployment claims plunged last week to a 52-year low. Several factors likely influenced the drop, including the ongoing pandemic recovery as well as job market changes related to the holiday season.
11: Myanmar's military reportedly rounded up 11 civilians — including five children — on Tuesday, tied them up, and then burned them alive. The massacre in the country’s northwest reportedly came after a military vehicle hit a roadside bomb.
7: UK Prime Minister Boris Johnson became a dad for the seventh time Thursday, when his wife Carrie gave birth to a baby girl. It’s a welcome reprieve for Johnson, who has been having a very rough time politically, including over a recent scandal in which his staff allegedly breached lockdown restrictions to party.
Rethinking the post-pandemic workplace
While the pandemic continues to ravage much of the world, the rich world is opening back for business and companies are preparing to bring their employees back to the office. But quite a few of those workers don't seem thrilled about a return to pre-COVID workplace norms. A recent survey of 30,000 Americans found that three in ten never want to return to the office again. Another poll found that one in three US workers wouldn't want to work for an employer who requires them to be on site full time. But Wall Street's impatience is starting to show. Take Morgan Stanley CEO James Gorman, who effectively told his New York City employees that they should expect to be back in their cubicles by September, or else. If employers are going to require that their workers return to the office, what should those workers expect in return?
Watch the episode: Adam Grant reimagines work after COVID
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Watch the episode: Adam Grant reimagines work after COVID
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