How To Remain Sane This EOFY
The end of the financial year (EOFY) is a busy time for businesses. But it can also be a very stressful period for many business owners and their staff.
So, how can you stay calm during EOFY stress? How can you manage your stress levels?
According to research by the Bank of Queensland, more than a third of small business owners say EOFY is the most stressful time of the year. For 30 per cent of small business owners, their source of stress comes from having little time to spend with family and friends.
In fact, prolonged stress is known to harm your relationships with family and friends, as well as put you under unhealthy pressure. If left unmanaged, stress can cripple your business.
It’s important as managers to help your employees relieve stress during the EOFY period. Here are some practical ways you can help your employees stay calm during EOFY:
Encourage an open and honest dialogue. It’s important to communicate openly with your employees so they can feel comfortable sharing their feelings. Listen to their concerns. Work out a management plan in preparation for EOFY that will provide support to help decrease the effects of stress.
Eat well and stay active. Eating foods that are a rich source of vitamin B help reduce stress. Vitamin B increases serotonin, which is a natural antidepressant. Offer your employees healthy snacks and foods during EOFY. Likewise, exercise releases endorphins which help to reduce stress and anxiety. Encourage your employees to go for a quick walk or organise some sports activities with your team prior to the EOFY period.
Get a good amount of sleep. There is a clear link between stress and sleep. If you don’t get enough sleep, stress levels can increase. Encourage your employees to get between seven to nine hours of sleep throughout the EOFY period. Avoid sending emails late at night and set up a routine to help you go to bed earlier. Turn off all electronic devices at least 30 minutes before bedtime or keep a journal to get your thoughts out of your head.
Split the workload. Stop trying to be the jack of all trades and start delegating tasks to the right people with the right skills. Everyone has their own unique role in the business throughout EOFY, so trust your team members to do what they do best. Build partnerships with your employees and help them to achieve their goals. This can also increase productivity and morale, leading to reduced stress.
Managing stress is important not only for your employees’ wellbeing but for the success of your business in the long term. Promote emotional wellbeing in your workplace and you can get through the EOFY period stress-free.