The danger of stress and how to handle it
Stress can have a significant personal impact and present a risk to the business. What are the causes and how can you manage it?
Defined as 'a state of mental or emotional strain or tension resulting from adverse or demanding circumstances', stress can have a massive personal impact and damage workplace efficiency. We take a look at some of the causes of workplace stress, what its impact is and how you can tackle it.
Owning, running or working for an SME can be incredibly rewarding, but resources can often be stretched, opportunities to progress more limited and achieving a work-life balance difficult. Whilst that's fine now and again, when it's over a sustained period of time, the impact on your wellbeing and that of your employees can be an issue.
Causes of stress
In a recent survey of business owners, 53% cited 'Financial worries' as their biggest source of stress (source: Haines Watts Love Money Report 2 (PDF, 4.77MB).), which is perhaps unsurprising when many will have committed significant time, energy and money to the venture. Over-reliance on one large customer or one major supplier can also cause stress as it provides no cushion in the event of a relationship breakdown.
Whilst time pressures, excessive business travel (either for work or commuting) and external factors around family issues are also sources of stress, lack of opportunity to utilise or develop skills is a further risk factor (source: Causes and Management of Stress at Work).