The Onslaught of Executive Burnout : Survey Shows 65% Feel Overworked

Overworked executives fear they are burning out faster than ever in the era of corporate downsizing, but those who actually get fired may be getting the better deal, according to two new surveys.

Nearly three of four executives believe the threat of burnout is greater now than it was 20 years ago, said a survey released Monday by Challenger Gray & Christmas Inc., an international outplacement firm based in Chicago.

A majority of those polled said managers are working too many hours (65%), are physically exhausted by day’s end (64%) and bring too much work home (60%).

By comparison, a 1982 survey showed only 39% believed managers were working too hard.

But the solution to burnout may be the very thing executives fear--job hunting.

“Let’s face it, the pressure of proving yourself in a new environment with new people and new challenges makes you better,” says James Challenger, president of the firm.

He suggested executives age 45 should change jobs every four to five years.

However, for those executives whose decision to seek a new job has been made for them, parting has not been such sweet sorrow--at least for their wallets.

Surprisingly, two-thirds of 575 terminated executives said they believed their severance packages were fair, said a survey by Lee Hecht Harrison, a New York-based outplacement consulting firm.

“Given most people’s mixed emotions after losing a job, we did not expect that so many would be satisfied with the severance their former employers provided,” said Steve Harrison, president of the firm.

He said fired executives received an average of 28 weeks of severance pay, consistent with four years ago. Severance benefits seem to have become institutionalized, even as many organizations are cutting costs and trimming staff, he said.