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The Downside Of Being On Top

BY: MICHAEL STERN July 31, 1996

Managers are facing more stress than ever these days. When once they could look forward to a summer vacation with their family, they are now having to settle for long weekends instead. What's an executive to do?

Once upon a time, summer was the time of year when senior business people could count on leaving the office tumult behind to recharge their batteries with two or three weeks of travel or family time.

However, this summer will likely find lots more top business people at their posts. With fires to put out, plans to make and budgets to finish, a long weekend or two is a all many executives are looking forward to this summer.

Lousy time management? Hardly. These are the stressed out victims of our ever more demanding business culture. Faced with increasing competition, fast-changing technology, and the challenge of doing more with less, many executives are falling further behind, even as they work harder and longer to keep up.

At a time when critics rail against supposedly excessive executive pay cheques, little attention is being paid to the dark side of management: the hours, the pressure and the strain. Yet, as the global economy grows in complexity, the stress facing key decision makers will only increase.

The evidence of growing stress is all around us. Take any executive out for lunch, and he or she will probably confess quite readily that they're working harder than ever and enjoying it less. Business is just tougher now, they say; things don't ever fall into place the way they sometimes used to; owners and directors are breathing down their necks; and while they're all working longer and harder, many executives admit they're feeling less and less in control.

The increasing pressure of business today became clear recently when I met a group of executives at 7:30 one morning for a working breakfast. What surprised me wasn't the hour, but the fact that several attendees were coming straight from another meeting.

Surely every generation of managers has felt itself the most stressed in history. But consider the burdens on today's executive:

First, we are living in the age of global competition. Consider the complexity of dealing with suppliers and customers around the world, overcoming barriers of culture, language and time zones. Add to that the threat of new competitors from a wide range of newly industrialized countries, not to mention the stress of stock, bond and currency markets that never sleep.

Second, technological change is presenting us with many new systems and applications to be learned, and there's never any time to do that nine to five. Plus, new technologies such as the Internet offer new frontiers to master. What opportunities does the Web offer your business? It's a whole new business and distribution channel to explore, and another source of uncertainty with which to wrestle.

And third, CEOs are feeling more heat from increasingly impatient directors and shareholders. How do you respond to the latest threat from Europe or the Far East? Foreign companies in particular are tightening their grip on subsidiaries, eroding their autonomy, installing new people, or implementing monitoring systems to ensure these units meet their targets - or else.

Also, with the pressure of just-in-time business information, no one wants to be caught making a mistake. Once upon a time, when you made a decision - to launch a product, say, or build a factory - it would take two years to find out if you were right or wrong. Today's computer systems and point of sale data can give you the answer overnight, putting more burden than ever on the executives who say yes or no. As one executive laments, "there is no downtime anymore."

A lawyer I know recalls fondly when a client with a problem mailed in the documents and happily waited a week for a reply. Today, clients fax their problems in the morning and demand answers by mid-afternoon. "Service is faster than it used to be," said my friend, "but it's not as good." There's no time to digest a problem or mull things over."

Signs of our break-neck pace - and of people's attempts to cope - are everywhere. Walk into any gym near Bay St. and you find it filled with executives trying to beat the morning rush. Just try making a reservation for an afternoon massage in downtown Toronto. You may find some open slots if you call early in the day. But book right away or they'll be gone by late morning - when people start to feel the stress of the day.

People find whatever means they can to cope. I know executives who have sent back their cellphones - they just can't handle being on call 24 hours a day. Others use their phones only for outgoing calls. One executive I know refuses to give out his cellphone number, even to his family.

For some executives, technology also offers a solution. Many have mastered laptop computers and fax modems so they can take their work on vacation or to the cottage. That lets them get away from the city - although not the job.

You'd think golf would be one thing harried managers would clear time for, but in my experience, they talk about it much more than they play it. Anyone who's tried to form a foursome lately knows how hard it is to get managers away from their desks. And let's face it - golf with the boss or your best client won't do much to reduce your stress level anyway.

With the pressures of technology, global competition and the thirst for results unlikely to diminish much before the next ice age, the best strategy is to learn to cope with stress. The good news is that most people already know how to do that, the bad news is that most people are too busy to do it.

Your first task is to learn how to deal with today's breathless pace. Focus on what you do best, or what you like to do most - and delegate the rest. Resolve to make decisions fast, and not to second guess yourself. And abandon the notion that you can control everything around you.

Learn how to tolerate change and know how to wing it. Tying yourself to traditional notions and old ways of doing things will only land you in the red zone on the stress meter.

Consider relaxation techniques, or even meditation. At the very least, eat right. Don't skimp on sleep. Your body needs help to get you through this.

Take time for yourself - and put it in your book. One executive tells me that he makes appointments with himself. Every week he visits the gym at least twice. "Between my family and my work, it's not as much balance as I want," he says, "but it keeps things from getting out of hand."

So what's the ultimate answer? Make lots of money, retire, and forget about stress? Not so fast! A 50 year-old business owner recently told me that he had considered selling his business and retiring to Florida, but decided against it. "I'd have nothing to do," he said. "I couldn't just sit and look out the window. It's too stressful."