Loneliness in Leadership: A Study Applied to the Portuguese Banking Sector

Abstract

In this study, we analyzed the feeling of loneliness in leadership in the Portuguese banking sector, seeking to identify variables that may instigate this feeling, such as gender, age, academic qualifications, function/position, number of working hours per week, and years of work/seniority, and the consequences that it may have, namely in terms of the decision-making process and the motivation of leaders. For this study, a quantitative research tool was used in the form of a questionnaire, which was applied to a group of collaborators, with leadership responsibilities, of the financial institutions authorized to operate in Portugal. We concluded that while some variables influence the feeling of loneliness in leadership (years of work, position, and academic qualifications), others do not (gender, age, and hours of work per week). We also found a relationship between loneliness and demotivation and proved that the feeling of loneliness affects leadership but does not affect decision making. The results are relevant, especially for the banking sector, which has undergone major restructuring in the Portuguese economy and needs guidance to face the country’s financial challenges.