Guest Post: 3 Viable Ways to Control the Stress Factors at Your Startup

By on June 19, 2017

We all know that building a business can be SUPER STRESSFUL! In this week’s guest post, Yazi Jepson gives us some tips for how make sure it doesn’t all get to be too much, not just for us, but for the employees that we manage. Here’s Yazi:

*****

Startups and small businesses are dynamic, ever-changing work environments where the workload is often expanded and the stakes are high, which creates an environment ripe for interpersonal conflict as employees have to work faster and harder to meet the objectives of the company and their performance metrics.

As a result, job seekers are taking advantage of the health trends related to stress relief. This is why employees have begun demanding work-related stress compensation. And it’s not just in the U.S. In Australia, the number of claims over work-related stress has gone up over the years since 2012.

Despite all of this, managing stress at the workplace is a skill many business owners don’t have. They get caught up in their many other responsibilities and let managing stress as a tool for employee recruitment and retention fly under the radar. That can be a costly oversight, however.

The Impact of Stress on Your Business

If you manage a business, you have probably thought about how stress could hurt your business. Tension, absenteeism, and poor morale are some of the key elements associated with stress. However, understand that there are severe ways the stress could interfere with the performance of your workers. It could cost your business A LOT by increasing your health care costs due to the side-effects of stress such as fatigue, injuries, and headaches as well as severe conditions including substance abuse, heart disease, and insomnia. Keep in mind that stress could also seriously hurt a startup’s ability to retain or attract talent.

While it is impossible to eliminate all stress factors in a startup, small changes could make a lot of difference. As you look for solutions to solve the stress factor, it is vital to protect your business’ reputation as well as finances. To protect your startup, here are a few strategies you could employ to decrease stress and foster productivity:

Employee Empowerment

When employees feel powerless in any organization, they tend to experience stress. Creating a startup that empowers all employees is a winning strategy for dealing with stress. What new ways can you modify structures of each department to empower a team? This should be modified in a way that highlights the roles of each employee. There should be explicit guidelines about the people responsible for decision-making in various activities to reduce ambiguity.

Insurance

Every business has the potential of being hit with stress claims that could burden a company’s finances. The surest way to protect your business from such claims is by owning an worker’s compensation policy. If your startup is not involved with high-risk activities, worker’s compensation is a very inexpensive benefit for a startup. It serves as a motivation to employees and keeps your business running. Workers’ comp also protects you if facing a lawsuit as a result of employees filing a claim for stress at work.

Compensation Structure

Different types of compensation structures can boost productivity but be aware that they may also increase bullying among workers. The structure should motivate employees and not add stress. Compensating workers according to their performance at work can quickly reduce cooperation and lead to unhealthy competition.

There are numerous proactive ways of addressing this. For instance, there could be an introduction of a paid time off policy that includes some days off specifically to relieve stress.

Consider Support Programs

Stress can have major effects on workplace culture and morale. Workers can become distant, unfocused, poor time managers, and even short-fused. No employee wants to feel irrelevant. In such instances, employees are likely to feel stressed. It is vital to acknowledge the efforts of each team member and invest in their professional development. Offering employees remedies for stress communicates genuine care from your end. At the organizational level, there should be a program designed to prevent stress. That involves identifying potential risks and the harms associated with them. Evaluated initiatives should then be put into place to control the risks at the workplace.

Final Thought

Work stress is a trending topic. Compensation over workplace-related stress has soared significantly over the years and workers are making stress-related claims more than ever before. If a business owner happens to be the cause of the stress, then there is bad weather for the startup. Identifying and handling stress issues correctly is the only way a startup can lead the market in the tough times and keep productivity at acceptable levels.

*****

Yazi Jepson is a Sydney-born writer. Currently, she writes content for Carter Capner Law a leading law firm who provides legal services in many areas including personal injury compensation and workplace injuries compensation. Yazi writes content in several areas, primarily in business growth, Startups and career advancement.

How to Decide if Crowdfunding is Right for You and Your Business

By on June 13, 2017

Today I want to talk to you about crowdfunding – not equity crowdfunding – just regular old, plain vanilla, rewards-based crowdfunding that has been around for years, and how to decide whether it’s a good move for you and your

Guest Post: 5 Signs You Have What It Takes To Be An Entrepreneur

By on June 6, 2017

It’s guest post week here on New Venture Mentor and today we’ll hear from Bea Maiz, who shares an infographic created based on an article by Thomas Oppong, about the makings of an entrepreneur. Here’s Bea: Anyone who’s started their

How to Use Follow-Up Then to Drastically Increase Your Productivity

By on May 30, 2017

Today’s post will be super quick and super focused: it’s a discussion of the absolute best productivity personal management tool out there, follow-up then. I’ve done a few posts about productivity tools and tips and I have mentioned some of

Review: The Ultimate Guide to Content Marketing and Digital PR

By on May 22, 2017

This week is a little different than normal because, even though it’s guest post week, I don’t actually have a guest post for you. Instead, I have a review of The Ultimate Guide to Content Marketing and Digital PR from Charlie Marchant,

A Quick Overview of the Business Model Canvas

By on May 16, 2017

Today I am responding to a request from one of my followers, Andries Baloyi, to explain the business model canvas. The business model canvas has gotten a lot of attention over the past few years because it is closely tied

Guest Post: How to Save on Packing Supply Costs

By on May 8, 2017

It’s guest post week again. Today we’ll hear from Marian Sparks with some tips for how to save money on packaging and shipping costs at your small business. Here’s Marian: If you run a business—no matter what your product is—you

A Quick Exercise to Make Sure You’re Focused on Building Your Business

By on May 2, 2017

Today I want to discuss the importance of staying focused on building your business and to share a quick exercise to help make sure you’re doing so. I know that sounds really trite – obviously you need to stay focused

Guest Post: How to Market Your Small Business on a Small Budget

By on April 24, 2017

Advertising is an important aspect of any business strategy, especially when it comes to small businesses. As a small business owner, you need to figure out how to promote your company and get the consumers’ attention. Although this can sometimes

In Praise of Humble Confidence

By on April 18, 2017

Today I want to very briefly discuss something that comes up over and over again when I coach business owners on how to deliver a great pitch: the art of projecting humility and confidence at the same time. I spend