This article give us the opportunity to learn from other executives regrets. A 2023 study by Oracle and Seth Stephens-Davidson found that 85% of business executives felt “decision distress” in the past year, possibly contributing to high CEO turnover. The Behavioral Sciences Lab at Boston Consulting Group surveyed 70 former CEOs and executives about their top regrets, which were categorized into:
- Lack of Speed and Boldness: Over half regretted not setting goals and acting more decisively. The advice: push against the norm, say no to impossible tasks, and stand firm on critical decisions.
- Building Better Teams: Many wished they had appreciated their team members more, acted swiftly to address underperformance, and prepared successors better. Key takeaways: praise desired behaviors, prioritize succession planning, and remove unsuitable colleagues promptly.
- Fostering Deeper Relationships: Leaders regretted not forming stronger professional relationships. Recommendations include knowing the executive team better, spending more time with staff and customers, and avoiding isolation in the C-suite.
- Being True to Themselves: About 40% wished they had been more authentic in their career choices. Solutions: regular self-reflection, using mentors and coaches, and prioritizing physical and mental health.
If you find yourself struggling with any of these regrets, contact Exotek. We’re here to listen and help.