CHROs May Be the Missing Piece to Improving Executive Attrition

While companies with c-suite executives (CxOs) averaging five or more years of tenure tend to outperform their peers, over half (56%) of C-suite executives, excluding CHROs, are “likely or extremely likely” to leave their current roles within the next two years. This underscores the critical need for organizations to prioritize both the retention and longevity of their top executives to maintain strong results and prevent leadership disruptions.

Furthermore, an October 2024 Gartner survey of 200 CxOs found that 27% are likely or highly likely to depart within the next six months. This means that companies may face high turnover during the ongoing labor shortage, which could be a pressing challenge. 

“Turnover is the hot-button issue right now,” said Jim Link, SHRM-SCP, CHRO of SHRM. “Given the ongoing talent shortage in the workplace, HR executives need to be focused on how they can retain their top executives. Turnover impacts business sustainability and delays growth.” 

This growing wave of C-suite leadership turnover raises an important question: What’s the root cause driving so many executives to step away from their roles?

The Leading Causes of High Executive Turnover

Executive attrition within organizations can stem from various factors such as stress, a high workload, and increased responsibility. In comparison to two years ago, more than half (67%) of CxOs noted being tasked to do more in their role, while 58% said their organization depends significantly more on their specific function or department. This increase in work leads to a greater level of job stress, as cited by 44% of CxOs surveyed.

The Missing Piece

CHROs can play an important role in strengthening the C-suite. When a CHRO is aligned with their CEO, there is increased alignment throughout the C-suite. 

However, there’s still work to be done. Less than a quarter of C-suite leaders feel their CHRO helps the leadership team work cohesively, and only 23% believe their CHRO effectively manages tensions within the C-suite, according to Alexander Kirss, senior principal at Gartner. This data indicates that most companies may not yet view CHROs as the glue between C-suite leaders and CEOs — there’s a disconnect. CHROs have a unique ability to act as a liaison with the right support from their CEOs; they just need the resources and reassurance.  

How CHROs Can Help

As executive attrition rises, CHROs have the opportunity to assist organizations in retaining and empowering their top leaders by strategically supporting their teams. 

CHROs can address CxO challenges head-on and support long-term leadership stability by:

• Supporting CxOs Through Executive Career Coaching: CHROs can partner with CEOs on workforce development and succession planning for their C-suite leaders. For example, CHROs can use performance data to identify and develop talent, tracking how leaders have performed over a two-year span and identifying areas for growth.  
  Additionally, CHROs can use feedback from reviews, mentorship, and coaching calls to see who’s ready to take on the next and/or bigger roles. They can also connect CxOs with tailored resources to support their professional growth, such as training programs, certificates, or specialized courses for upskilling. 

• Acting as liaison between CEO/C-suite: Acting as a bridge, CHROs can share insights with peer CxOs and learn about the roadblocks they’re facing. CHROs can also facilitate structured feedback loops between the CEO and CxOs through one-on-ones or leadership roundtables. By creating a professional, safe space for honest conversations, CHROs have the opportunity to ensure both sides feel heard and respected, increasing team cohesion at the top. This helps CxOs effectively showcase their expertise and contribute to smarter, more impactful business decisions.
  

• Being a mental health ally: CHROs can also support C-suite leaders by serving as champions for executive mental health. For instance, CHROs can partner with external wellness providers to offer mindfulness programs specifically tailored to the pressures that executives experience. CHROs can also set aside time for mental health check-ins or one-on-ones with executives to ensure they feel seen and supported, beyond just their performance metrics. Through leading by example and promoting well-being practices, CHROs set the standard for a healthy work/life balance.