The COVID-19 pandemic has brought challenges to all areas of our business and personal lives. It has affected us all to varying degrees and in different ways, and in the midst of it all, leaders have had to not only look after themselves but also the businesses they run and the people they lead.

Although the possible return to some form of new ‘normal’ provides a chink of light at the end of the tunnel, it does not mean that CEOs and leaders are under any less pressure.

Concerns about a smooth transition back to the office, or implementing a more permanent hybrid approach to working, or embedding a long-term remote working infrastructure are just the tip of the iceberg. The need to drive business success and general company and employee health is greater than ever, and on top of this they will also now be expected to be more transparent, step up when governments do not, and be at the forefront of change (Edelman, 2021[1]) – all remotely.

It’s no surprise that the combined weight of internal and external pressures sometimes gets too much for even the most resilient of leaders. And there is much to be learnt from those leaders who share the realities of this pressure.

Tom Blomfield, former co-founder, CEO and president of Monzo, is a case in point. Citing personal and mental health pressures as part of the reason for his recent departure from the bank, Blomfield reminded us that leaders are human too.

His willingness to publicly address the personal nature of his recent challenges shares three valuable leadership lessons:

1.      CEOs and leaders are not exempt from burnout

Given the immense pressure that CEOs have been under over the past year and beyond, it is easy to understand how burnout is becoming one of the biggest challenges that CEOs face. Research backs this up, showing that around 42% of senior leaders were at high risk of burnout during lockdown, despite being psychologically resilient individuals.

It is imperative that leaders (and those around them) recognise signs of struggle and are able to ask for help. And it’s equally important that this isn’t seen as a weakness. Key tactics recognised as helping to ease stress include:

• Positivity. Research shows that positivity can not only increase resilience, but also bond people together and increase trust at every level.
• Delegation. Leaders may think that they have to manage everything alone but it’s critical to delegate. Part of this is ensuring your business has the right tools and management processes in place to make delegation easier. A number of business have even introduced temporary co-CEOs (think Salesforce, Netflix and Samsung) in order to spread the workload, increase profit, build value and transition through difficult times.
• Self-care. People at every level need to take time to deal with stress and leaders are no different. This could be as simple as putting a ban on work tech after 8pm, or spending quality time with family.

2.      It is in the interest of organisations and leaders to lead with honesty and vulnerability

The qualities that are seen to make a good leader have changed over the last two decades, with a growing narrative around the importance of human leadership. This shift has gained pace over the last year – a human crisis has driven more human leadership, empathy and understanding.

Vulnerability is a trait not usually associated with, or demonstrated by leaders, but is actually one that we all need at times. Brene Brown[2] describes vulnerability as ‘uncertainty, risk and emotional exposure’ and suggests it is the most accurate way to measure courage. To be vulnerable is to be brave – a critical quality for leaders in the new normal.

Honesty and vulnerability were two key traits that Tom Blomfield was happy to share publicly, showing a display of courage that many leaders would do well to replicate. It is refreshing to see this demonstrated in a leader, as is the fact that Blomfield was able to ask his investors for ‘help’, a quality that is known to build trust.

Studies have found that not only is integrity valuable in a leader, but the additional presence and display of vulnerability actually increases their attractiveness to employees and the general public (de Klerk, 2020[3]).

3.      Leaders have a shelf life

The generally accepted idea is that there is a natural progression through a company. Many CEOs, for example, are part of a business’s start-up and remain throughout all its changes and as it develops. Interns often rise through the ranks, moving through promotional levels on a regular basis.

But just because this is the recognised route it’s not necessarily right for everyone, and not every career has to be linear. It may be that the specific skills that make leaders so great only apply to one part of that career progression.

The case of Blomfield is an excellent example of this. Although he was the CEO of Monzo and built the business from scratch, he was able to recognise that his skillset no longer matched where the company is now. He understood that he is a creator and early-stage builder, rather than a ‘scaler’, and knew he wouldn’t enjoy this next stage. Handing the reins to someone who wants to fulfil this role was not only right at a personal level, but was also right for the future success of the company.

This is a really important lesson for all employees and leaders: you don’t have to follow the status quo and focus on getting promoted to achieve success. It’s just as important, if not more so, to match skill set and motivations to the parts of the company’s development you are most suited for.

If the new normal ahead of us means that we need to change some of our leadership behaviours for good and develop a more human approach to leading teams and organisations in the future, the learnings from Blomfield’s example are excellent starting point. Balanced leadership is not just a way to survive short-term crisis; it is a critical approach that can help accelerate growth, drive engagement, boost productivity, and ensure the wellbeing of leaders, teams and the organisation as a whole.

[1] Edelman Trust Barometer 2021

[2] Daring Greatly: How the Courage to be Vulnerable Transforms the Way we Live, Love, Parent and Lead; Brene Brown, 2012

[3] Prinsloo, J., & De Klerk, J. J. (2020). Contribution of integrity and vulnerability to perceived moral character and a leader’s behavioural profile attractiveness. African Journal of Business Ethics, 14(1), 1-22.