Are you about to explode because of the stress of running your business?
More than two-thirds of entrepreneurs say running a business is more stressful today than it’s ever been.
The figure of 71 per cent is up from 66 per cent in 2013, and 65 per cent in 2012, according to a study of more than 2,500 companies by employee wellbeing consultancy Health Assured.
Two fifths of small and medium-sized enterprises (SMEs) currently experience staff absence from work because of stress. Plus, 89 per cent of small business owner managers admit to working while on holiday. Of these, 63 per cent of owner managers who work on holiday say they have argued with their partner because they have continued to work.
However, 68 per cent of SME owner-managers say that despite the stress they would happily set up another business.
David Price, managing director of Health Assured says that to make a business work employees are more likely to work longer hours and spend more energy on making something succeed.
‘Whilst this is admirable it can lead to issues such as fall outs with colleagues, fatigue and stress. Excessive stress can interfere with productivity and impact physical and emotional health which in turn is not good for you or your business.’
Price says that a certain amount of stress is healthy; it can help build drive and determination, it can make people work well together in a group.
‘However the right balance needs to be addressed and the wellbeing of employees needs to be a priority of any business no matter what the size. In a small business the responsibility of making a business work has more impact on smaller number of employees, hence why we see a more stress amongst small firms,’ he adds.
‘Everyone needs to take a break, never force staff to work throughout lunch, and if they do have to work late ensure they are compensated. Acknowledge the work they are doing, this can often help alleviate stress especially if they believe what they do is appreciated – this will also help boost motivation. Monitor work volume and ensure that is shed amongst staff fairly and review regularly, ensure that everyone is pulling their weight.’
Any of this ring true for you? We can help to relieve your stress and pressure! Call us for a complimentary consultation to find out what we can do for you, your employees and your family.