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How can HR support retention in the C-suite?

"Enhance the CEO's resilience by introducing a coaching structure that helps manage their stress," said Mia Finley

Fewer CEOs in FTSE 100 companies left their organisations in 2024 than in 2023, according to data from leadership advisory firm Russell Reynolds Associates. How can HR support improved retention within the C-suite?

Russell Reynolds’ report, published on 28 January, found that global numbers of CEO departures had risen. However, the FTSE 100 bucked this trend, seeing just 12 CEOs depart in 2024, a decrease of 14% compared with 2023. 

Ruth Cornish, founder of HR consultancy Amelore, said organisations can take a proactive approach to improve C-suite retention.

She told HR magazine: “Senior executives have got to C-suite level on the back of hard work and great career success. Having this recognised in a number of ways, makes individuals (with many choices) feel loyal and valued.”


Read more: Quarter of employees do not trust their CEO


She suggested strong compensation and reward packages and autonomy to make decisions: “Ensure your executives have a compelling package that rewards success, and don’t tie them down with HR rules and endless processes.”

It is also vital to conduct regular checks in and closely collaborate with C-suite leaders, she added: “Being at the top can be lonely and stressful at times. Check in with your C-suite and talk about them as well as the business.”

Women represented 11% of new global CEO appointments last year, the second highest figure since records began in 2019. However, it will still take the FTSE 100 39 years to reach CEO gender parity at the current rate. Globally, it will take 72.5 years at the current rate of change.

Mia Finley, people advisor at employment law, HR and health and safety firm AfterAthena told HR magazine that focusing on the CEO’s development can help them improve resilience and avoid burnout, allowing them to thrive in a role for longer.

“[HR can enhance] the resilience of the CEO by introducing a coaching structure that helps CEOs manage their stress, given the fast-paced and strategist nature of their role, in order for a high level of performance to be maintained,” she said. 

She added that coaching can also take the form of mentoring, which can feed into leadership development in terms of knowledge and experience as well as succession planning by creating a pipeline of talent for the future.

“In doing the above, it will lead to open and transparent communication between a CEO, the HR team and the board of directors and will ensure clear expectations are understood, and a foundation of mutual trust is built upon, preventing conflict and misalignment from arising,” she said.


Read more: How to coach: keeping the C-suite on track


However, HR should first prioritise recruiting the right CEO, according to Simon Jones, director of HR consultancy Ariadne Associates.

Speaking to HR magazine, he said: “The first key step is to recruit the right person – spending time and effort on a rigorous process will be worth it.”

Russell Reynolds Associates’ Global Index of CEO Turnover tracks CEO departures from constituent companies of the following global stock indices: ASX 200, CAC 40, DAX, Euronext 100, FTSE 100, FTSE 250, HANG SENG, Nikkei 225, NSE Nifty 50, S&P 500, S&P/TSX Composite, STI and SMI.