How can stress affect you and what can you do to overcome it? Whilst a high percentage of business owners feel that prompt and positive action to ease and eliminate stress is important, most are unaware of how or where to seek help.
For any business, regardless of size, to address workplace stress effectively, it must first understand what stress is: its causes, its effects, and the risks involved.
What is stress?
In simple terms, stress occurs when the pressure on an individual exceeds, or is perceived to exceed, their ability to cope. It is often a misconception in business that some level of stress is a stimulant and driver. It is, in fact, pressure which stimulates and motivates, but when it progresses to become stress this is not healthy and never produces positive results.
What are the signs and the effects on the individual?
Stress manifests itself in three ways. These are:
So what should you look out for in yourself, and others?
The main indication that one is suffering from stress, is change. It may be a noticeable fall in concentration levels or lapses in attention to detail. It is perhaps more frequent sickness or tiredness. Maybe it will be a significant change in personality or social habits. Recognising these signs will help you to see that a problem exists.
How can stress impact my business?
For the sole trader or business owner, the impact, both personal and commercial, can be devastating.
Work-related stress can result in serious consequences for any company, small or large. Stress can not only affect a company financially, but it can have negative consequences on morale and performance.
Some examples of these effects are:
What should I do?
Many who start their own businesses come from a large company background, where support functions were in place and they had the support of many other colleagues. Running your own business, you are often solely responsible for all tasks, and can feel isolated. Four prime factors should be embraced by owner/managers to avoid potential stress effects.
Case study
Two business owners/partners were faced with the all-too-common problem of steady sales combined with faster-growing costs. No matter what they considered, they could not come close to the 15% turnaround required. They did not consult their staff, and stress levels were rising. On the recommendation of a local business adviser, they approached a stress management company. Following a seminar on stress, they decided to advise their staff of the problem, and placed a suggestion box in the workplace. At the end of the week they studied suggestions, and found one that changed the product in such a way that saved almost the total required, without affecting quality. Coupled with their own ideas, this more than met their targets.
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