"80% of business leaders worry their work-life balance is negatively impacting relationships with family and friends"
Worryingly, research by the University of St Andrews suggests it could be SMEs that are worst affected by this uncertainty. A post-Brexit recession is a real possibility.
Although there are clear implications for the health of both the economy and UK businesses, too little attention is paid to what this testing climate can do to the mental and physical wellbeing of those running SMEs, as well as their employees. Our research has shown that 80% of business leaders worry their work-life balance is negatively impacting relationships with family and friends, while a third struggle to spend enough time with their children. Clearly, this is an issue that needs attention.
The dark side of an intense work ethic
The constant evolution of technology has made it harder than ever for professionals to switch off when they leave the office. There’s a culture of expectation about being contactable round the clock. Whether it’s a laptop, tablet or even a smartphone, it’s too tempting for people to check-in to see if any emails have come in since leaving the office, or to ‘just’ spend an extra 30 minutes in the evening perfecting a presentation for the following day. There will of course be instances where late night work is a necessity – whether it’s resolving an issue that came in after hours or responding to urgent queries from customers. However, it’s when this stops being a rarity and becomes routine that SME leaders’ physical and mental wellbeing are at risk. Rather than taking the much-deserved time out of the office, SME leaders feel obliged to constantly be switched on to what’s going on in their professional lives. This is when what many could see as a strong work ethic can end up to the detriment of the wider business.
Wellbeing butterfly effect
For many people, the business leader is someone to look-up to and emulate. This is why the ‘one last check’ mentality that sees them firing off emails at midnight can set an unrealistic precedent. Employees will also feel the need to respond to emails in the middle of the night, or they’ll get in early to get ahead of things before their shift begins. This has the potential to increase stress levels, cause unforeseen health issues and could even result in people leaving the company – all because the owner hadn’t taken care of their own work-life balance. There’s a clear butterfly effect in play that if not spotted and rectified, can cause issues some SMEs will find it hard to come back from
Finding the balance
This is where forward-thinking brokers can make a significant difference to their clients. While many may still view their customer relationship as secondary to connecting them with the financial support they need, leading brokers look to constantly add value at every level.
Brokers that position themselves as not only financial support, but an emotional and pragmatic support to their clients, can make a real difference in the fight for a healthy work-life balance. Even the most hard-working business leaders are unlikely to enjoy working around the clock and simply don’t recognise the impact their actions could be having on the wider company.
If an expert they trust, with a track record of supporting their business, highlights the value of making time for a proper break, the business leader is much more likely to listen. Once they see the difference in not only their personal lives but also the productivity of the wider workforce, they’ll no doubt hold the broker responsible in even higher regard.
Such small changes can have a real impact on SMEs – be the broker that goes the extra mile and helps clients find the right work-life balance.
