You know what business owners fail to think about?
Their business is like having a child. It cannot be stuffed in a closet or left alone. It needs to be in capable hands if you’re going to be gone.
Business owners who aren’t aware of this get all excited for summer and vacations and hanging out with the family – but these days many business owners aren’t so great at taking time off. A survey of 600 business owners by Clarify Capital found that nearly one in four business owners took no time off in the past year because vacation isn’t always a top priority.
The survey found 72% of those who skipped vacation said financial concerns prevented them from leaving. And more than six in 10 said that inflation was a factor in taking less time off. However, the survey also found that when times are good and their business earns more revenue, 58% don’t change their time-off behaviors.
Here’s the key takeaway for business owners: Disconnecting and taking time to recharge can be critical for your success. While financial concerns are valid, there are ways to ensure your business runs smoothly even when you’re not there. Learning How to increase leadership skills can empower you to delegate tasks effectively and build a team that can function independently. This way, you can take that well-deserved vacation and come back feeling refreshed and ready to tackle new challenges.
Of those who took vacations, 81% still checked their emails while they were away, and just under half actually did business tasks while on vacation. More than half (52%) said they were unable to enjoy their time off because of business concerns. The end result: 27% said they still felt burnt out after taking time away.
And, those who did suffered the pressure and stress of “catching up” when they got back!
There is a huge cost to business owners – they pay in big ways. 146% are more likely to report poor mental health. More than half are more stressed, and several reported a work-life imbalance, physical health issues and waning passion for the business.
Fortunately, it doesn’t take a lot of time away to turn these statistics around. The study found the happiest business owners take 10 days off a year—just two working weeks.
May is Mental Health Awareness Month, and some of my clients think I should call myself a business psychologist. Why? Because work/life balance, your mental clarity and your rest and rejuvenation are essential components of leading well.
It’s also important for leaders to plan those summer vacations to set an example for their employees. But it’s also important for business leaders to be engaged in the mental health of their employees. Work—and the rest of life—can be stressful. Understanding that there is more to your employees’ stress ball is essential to valuing them in the workplace.
If you want to increase your own focus and increase retention of your employees, consider instituting programs and strategies that respect the many pressures bearing down on people who more than likely are stressed to the max and doing their best.
To support employees in handling everyday stress and pressure while promoting a balanced life, businesses can implement one or two of the following programs and test the waters.
Flexible Work Arrangements
- Remote Work Options: Allow employees to work from home or other locations to reduce commuting stress and increase flexibility.
- Flexible Hours: Enable employees to set their own work hours within reason to accommodate personal and family needs.
Wellness Programs
- Physical Health Initiatives: Provide gym memberships, fitness classes, or on-site exercise facilities.
- Mental Health Support: Offer access to counseling services, stress management workshops, and mental health days.
Work-Life Balance Policies
- Encourage Time Off: Promote the use of vacation days and personal leave without guilt.
- Disconnect Policies: Implement policies that encourage employees to unplug from work during non-working hours to prevent burnout.
Employee Assistance Programs (EAPs)
- Provide confidential counseling and support services for personal and work-related issues.
Professional Development
- Training and Education: Offer courses and workshops on stress management, time management, and mindfulness.
- Career Growth Opportunities: Help employees develop new skills and advance their careers to increase job satisfaction and reduce stress.
Supportive Work Environment
- Open Communication: Foster an environment where employees feel comfortable discussing their stress and seeking support.
- Team Building: Organize team-building activities that promote camaraderie and reduce workplace tension.
Health and Nutrition Programs
- Healthy Snacks: Provide nutritious snacks and beverages in the workplace.
- Health Workshops: Offer workshops on nutrition, healthy cooking, and maintaining a balanced diet.
Mindfulness and Relaxation Techniques
- Meditation Sessions: Provide guided meditation or mindfulness sessions.
- Quiet Spaces: Create designated quiet areas in the office where employees can relax and recharge.
Recognition and Rewards
- Acknowledge Achievements: Regularly recognize and reward employees’ hard work and accomplishments.
- Employee Appreciation Events: Organize events to show appreciation for employees’ contributions.
Workload Management
- Realistic Expectations: Set realistic goals and deadlines to avoid overburdening employees.
- Delegate Tasks: Encourage managers to delegate tasks appropriately to balance workloads.
By implementing these programs and strategies, businesses can create a supportive environment that helps employees manage stress and maintain a healthier, more balanced life.
Terry Taylor, MA MCC
Versoria, Inc.
