A new study by Boston Consulting Group (BCG) reveals that over 25% of CEOs see their chief financial officer as the greatest internal threat to their job security. This insight comes at a time when executives are also dealing with increased oversight from boards and experiencing notably high stress levels. Together, these factors suggest a broader trend: CEOs often face their most intense pressures from those within their immediate circle, while longer-term risks, such as leadership turnover, tend to receive less focus.

The findings are drawn from BCG’s first CEO Insomnia Index, a global analysis combining survey responses from around 500 CEOs—leading companies with revenues between $100 million and over $5 billion—with data on CEO turnover across the S&P 1200.

More than 70% of CEOs report stress levels that fall within a clinically high range, with an average score of 66.7 out of 100. Additionally, 57% say that short-term priorities dominate their schedules, often at the expense of addressing long-term opportunities and risks.

According to Judith Wallenstein, a managing director and senior partner at BCG who leads the firm’s CEO Advisory practice, balancing immediate performance targets with long-term growth has always been challenging. However, she notes that today’s CEOs must do so with less time and under closer scrutiny from increasingly informed boards—pressure that ultimately cascades down to them.

Rising Internal Pressures
Core business expectations continue to be the primary drivers of stress. Achieving growth targets and controlling costs remain top concerns, with 60% of CEOs anticipating difficult operating conditions in the near future.

At the same time, stakeholder pressure is intensifying:

These trends highlight the increasing complexity of the CEO role, where even strong internal relationships can become sources of tension.

Overlooked Long-Term Risks
While CEOs remain highly focused on immediate performance, the research suggests a gap between perceived threats and actual risks to their tenure.

Some factors strongly linked to CEO turnover are currently viewed as less pressing:

Jessica Apotheker, BCG’s global chief marketing officer and head of BCG X’s tech build and design division, notes that AI can pull CEOs away from day-to-day pressures by allowing them to learn, innovate, and shape their company’s future direction.

Only 38% of CEOs report concern about employee dissatisfaction, suggesting that workforce sentiment may be undervalued as a potential risk factor.

The Human Side of Leadership
Beyond operational challenges, many CEOs also experience emotional strain. The role is often described as isolating, as leaders are expected to absorb pressure from boards, employees, and other stakeholders.

While 72% of CEOs are confident that their decisions will positively shape their long-term legacy, nearly one in three remain uncertain.

Overall, the findings point to a broader leadership challenge: CEOs must navigate the tension between delivering immediate results and addressing less visible—but equally important—long-term risks and organizational well-being.

Media Contact:
Eric Gregoire
+1 617 850 3783
gregoire.eric@bcg.com

American employers and employees face a pressing challenge: increasing workplace stress and burnout. This issue is compounded by rising healthcare costs, financial insecurity, and concerns about family well-being, as revealed in the 14th annual Aflac WorkForces Report. This long-running study, conducted by Aflac Incorporated, a leading provider of supplemental health insurance in the U.S., examines trends, attitudes, and experiences related to healthcare and workplace benefits.

Rising Workplace Stress and Burnout
The report highlights that nearly 60% of American workers experience burnout, with younger generations feeling its effects more acutely. Among millennials (ages 28-43), 66% report moderate to high burnout levels, compared to 55% of Gen X (ages 44-59) and 39% of baby boomers (ages 60-78). Additionally, the percentage of employees reporting high stress rose to 38% in 2024, up from 33% the previous year. Hispanic workers face disproportionately high stress levels, with 46% experiencing significant workplace stress compared to 37% in 2023. Burnout and stress are largely driven by heavy workloads (32%) and long work hours (27%), with some workers also reporting severe impacts such as post-traumatic stress and eating disorders.

Jeri Hawthorne, Aflac’s Senior Vice President and Chief Human Resources Officer, emphasized the importance of employers understanding the causes of stress and taking steps to support employees’ well-being both at and outside work.

Counterproductive Workplace Behavior
The report found that 50% of employees engage in at least one counterproductive behavior, often associated with "quiet quitting." These behaviors include neglecting tasks outlined in job descriptions and taking on unauthorized secondary jobs. Remote workers are more likely to exhibit these behaviors than their on-site counterparts, highlighting the need for employers to better manage workplace models to maintain productivity.

Financial Vulnerability and Anxiety
Financial insecurity remains a significant concern, with 70% of employees feeling anxious about the potential impact of a serious medical condition—up from 60% in 2023. Over half of employees cannot afford a $1,000 unexpected medical expense, with Hispanic (58%) and African American (59%) workers facing greater financial instability. Many employees underestimate the costs of serious medical conditions like cancer, with out-of-pocket expenses often exceeding $40,000—far higher than the $2,000 most anticipate.

Younger workers, particularly Gen Z (ages 18-27), are the most financially vulnerable, although there has been some year-over-year improvement in their ability to handle unexpected expenses.

The Role of Benefits and Supplemental Insurance
The report underscores the growing importance of comprehensive benefits packages in employee retention and satisfaction. A majority of workers (62%) would consider changing jobs for better benefits, even with a pay cut. The demand for supplemental insurance has reached its highest level in 14 years, with 93% of employees recognizing its role in financial stability and peace of mind.

Hispanic workers, in particular, value benefits that address family illnesses and health histories. These benefits significantly impact their productivity, job satisfaction, and overall loyalty to their employers.

Corporate Social Responsibility (CSR) and Employee Well-Being
Participation in employers' CSR initiatives positively impacts employee well-being, with 91% of workers reporting a beneficial effect. However, 25% of employees are unaware of their employer's CSR programs. Hispanic employees show greater interest in CSR efforts, with many viewing them as critical to their work experience. Improved communication about these initiatives can boost engagement, recruitment, and retention.

Conclusion
The 2024-2025 Aflac WorkForces Report highlights the crucial role of benefits in addressing stress, financial vulnerability, and workplace satisfaction. Employers are encouraged to adopt proactive measures, including enhancing benefits packages and implementing well-being programs, to better support their workforce in an increasingly challenging environment.

Click here to see additional survey findings.