(FORTUNE Magazine) – WITH U.S. MANAGERS working harder than ever, many have got to wonder whether relief is in sight (see preceding story). The answer from their bosses: Forget it. Far from easing up, CEOs overwhelmingly believe that large American companies will have to push executives even harder to keep up with global competition. That's the bad news. The good news is that the chiefs also understand that to get more from managers, their jobs must be made more rewarding, with more incentives and greater autonomy. These are among the findings of the latest FORTUNE 500 CEO Poll. Clark Martire & Bartolomeo, an independent opinion research firm, conducted the survey between January 16 and 25. Some 206 CEOs of FORTUNE 500 and Service 500 companies answered our queries. The CEOs don't doubt that their managers are already working harder than they used to. Almost two-thirds of those polled say their executive subordinates work longer hours today than ten years ago. They've had to, say the chiefs, because of restructuring and increased competition. Texaco CEO James Kinnear says heads of companies must ''set objectives and monitor employee performance -- and if that leads to longer hours, then so be it!'' How hard do you have to work for one of these bosses? Real hard. On average, they figure a high-level executive should work about 54 hours a week, and nearly a third of them think such an executive should work over 60 hours a week. Most of them think middle managers should work at least 50 hours a week. If that strikes you as too demanding, don't look for sympathy from these CEOs: They say they put in an average of 61 hours a week. The chiefs don't foresee mass burnout among managers. Argues Kinnear: ''It's self-correcting. People get tired and they go home.'' Nor does USX chief Charles A. Corry see any cause for alarm. ''It always seems you operate in a crisis environment in business,'' he says. ''The pace of management is quicker today, but the essence isn't different from what it was in the 1960s.'' To be sure, a few CEOs believe that the pressure has become too intense and has to be lightened. Says David R. Carpenter, CEO of Transamerica Occidental Life Insurance: ''We can't beat people into the ground anymore.'' San Francisco Federal Savings CEO Patrick Price adds, ''We must recognize the signs when managers are being pushed too hard and help out with people, systems -- whatever it takes.'' Although the majority think managers are working harder than before and must work harder still, some also believe, a bit paradoxically, that an executive who spends all day and most of the evening at the office isn't necessarily a boon to the company. ''I think it's absurd for business people to be divorced from the community,'' says John Bryan of Sara Lee. Bryan estimates that he spends 20% of his time on good works, such as serving on the board of the University of Chicago. He requires similar commitments from his executives, even giving them time off from work for community service. He believes the ''political and other'' skills they acquire can then be applied back at the office. Winston Wallin, CEO of Medtronics, also encourages altruism in his executives, with a measure of corporate self-interest in mind. ''People get so focused on their own business,'' he says. ''Executives who work 80 hours a week are not likely to have the breadth of knowledge they ought to have. Managers are likely to be more creative if they have a little balance in their lives.'' So how do you get executives to compete more ferociously than ever -- while maintaining balanced lives, of course? There were 206 different ideas about what kind of carrot and stick a company should use as motivation. One, offered only half facetiously by Sara Lee chief Bryan: ''Fear as a motivator is pretty powerful these days.'' Most answers fell into three broad categories: Offer more money, offer more autonomy, and offer a sense of mission. Fully 83% of the CEOs surveyed say they already give more incentive-based compensation to their managers than they did ten years ago. Asked what they could do to get more out of those executives, a CEO was most likely to say, ''Become more incentive-oriented.'' Corry of USX explains, ''It's a stimulating device. You get the manager to believe he can influence his own compensation.'' USX offers bonuses that may run up to 85% of an executive's base salary. Several CEOs touted employee stock ownership plans as a good way to give workers a stake in the company's success. ''Employees as shareholders are very attractive,'' adds Bryan. ''They have a slightly longer-term outlook.'' Increasing the autonomy of managers serves two purposes in the age of the fat-free corporation. First, it means that whole layers of management, and the paperwork that goes with them, can be trimmed. Second, employees who feel trusted by the boss are freer and more willing to do what's best for the company. Says Hasbro CEO Alan G. Hassenfeld: ''If you treat people well and they have responsibility and authority, they'll produce. People should be incentivized and excited about what they're doing, and they'll perform well.'' At PPG Industries ''everyone is called a manager because each of us -- engineer, truck driver, secretary, etc. -- manages an asset or a function,'' says Chief Executive Vincent Sarni. The same CEOs who advocate giving underlings a lot of leeway also emphasize < the importance of giving them guidance and a reason to do what they do. ''I call it the 'all singing the same song' theory,'' says U.S. Bancorp CEO Roger Breezley. Super Valu Stores CEO Michael Wright says, ''People need to feel there's a purpose in their jobs. They need to know they're working for more than a paycheck.'' Super Valu Stores' purpose, Wright explains, is to help entrepreneurs -- the store owners his company services -- succeed. The CEOs endorse another route to working better, one that's easier identified than followed: eliminating work that doesn't really need to be done. Complains Breezley of U.S. Bancorp: ''We automate and automate and automate, and the paperwork still grows and grows. We are documented to death.'' Robert G. Sharp of Keystone Provident Life Insurance argues, ''We should be putting people on the critical jobs that need to be either improved or eliminated. Managers should examine all functions on a must-have, not a nice-to-have, basis.'' In Japan, when a worker dies from exhaustion, they call it karoshi, or ''death from overwork.'' There may still be time to prevent the problem in the U.S. before things get bad enough to name it. But are CEOs interested in tackling the problem?

BOX: Q Which of the following two statements comes closer to how you feel about the management of large U.S. companies? A Large U.S. companies will have to push their managers harder if we are to compete successfully with the Japanese and other global competitors. 77% As a result of restructuring and getting leaner, large U.S. companies are pushing managers too hard. 9% Not sure 14%

Q How many hours a week, on average, do you expect a high-level executive in your company to work? How many for a middle manager? A High-level Middle executive manager 40 hours or less 2% 8% 41-49 hours 1% 21% 50-59 hours 58% 53% 60-69 hours 29% 9% Not sure 10% 9% Average 54 hours 49 hours

Q Are executives in your company working longer hours than ten years ago, shorter hours, or about the same number of hours? A Longer hours 62% / Shorter hours 2% About the same 35% Not sure 1%

Q On average, how many hours a week do you devote to your job? A Under 50 hours 2% 50-59 hours 28% 60-69 hours 45% 70-79 hours 21% 80 hours or more 4% Average 61 hours

Q Is the amount of incentive-compensation in your managers' pay packages greater than it was ten years ago, less than it was, or about the same? A Greater 83% Less 2% About the same 12% Don't know 3%

Q How should large U.S. companies better manage their executives? A Become more incentive-oriented 27% Encourage productivity, creativity, innovation, and risk taking 27% Give them more autonomy and decentralize decision-making 21% Get them to work smarter, not harder 20% Recruit and train better-qualified people 13% Develop a corporate culture or mission, plan for it, and communicate it 10% Push managers to work harder 9% Focus on the long term 8% Encourage better communication 5%

Totals more than 100% due to multiple responses.