Why happy and healthy employees are vital for a micro business to thrive
In collaboration with AXA PPP healthcare, Business Advice consults three entrepreneurs to find out how micro business owners can foster a culture of positive physical and mental wellbeing from day one.
There are many sources of stress for today’s small business owners from the threat of business failure to late payments and poor work-life balance. This constant pressure takes a well-documented toll on the mental and physical health of entrepreneurs. In a recent survey of 1, 000 SME bosses by Aldermore bank, one third admitted to experiencing anxiety or depression in the past five years.
In a separate study by software firm Advanced, 65% of small business owners and senior managers revealed they struggle to ‘switch off? once the working day is done. Two-thirds of respondents claimed that they use ‘stress-busting? rituals, such as breathing exercises, to help them through difficult moments. However, it’s vital that SME decision makers develop long-term wellbeing strategies, rather than simply tackling tension as it arises.
How do you create a culture of wellbeing from the start?
At the same time, SME bosses must lead by example and introduce wellbeing initiatives for staff members. Stressed out employees are unlikely to be as productive as they could be and they may start searching for a new job in a better working environment.
‘starting a business is not just about your product, your name or your brand. Andrew Humphries
According to Andrew Humphries, co-founder of innovation accelerator The Bakery, employee retention is one of the most compelling reasons for introducing workplace wellbeing initiatives.
it’s the responsibility of the employer to create an environment where people want to stay, he explained. That means mental and physical wellbeing, but also developmental wellbeing: Can staff develop and achieve their ambitions and their goals as much as possible in your organisation? If you arent creating that environment, then you need to understand that people are going to leave.?
Founded in 2012, The Bakery identifies entrepreneurial startups and connects them to large corporates to drive innovation. As well as managing his own 29-person team, Humphries helps startups through the early stages of their development and he’s learned a lot about company culture along the way. The key to keeping talented employees, he said, is to have a clear and actionable plan for the brand you want to build.
‘starting a business is not just about your product, your name or your brand, Humphries said. it’s about the ethos you want to have as a business owner. If everybody buys into that vision then youll recruit, attract, keep and develop the right people. If you don’t even have the vision yourself, youll have a much more difficult job on your hands.
__________________________________________________________________________________ Why micro businesses need to prioritise work and wellbeing and how to get startedFeeling run down? Overwhelmed running your business? A new wellbeing collaboration from AXA PPP healthcare for small business owners can help you manage health and wellbeing to get the most out of your day, one step at a time.
Practice what you preach
With strong, human-centric values in place from the start, micro business workers will feel a sense of loyalty to their company. But it’s not enough to make promises in your employee handbook or during staff induction.
it’s really important that my staff are in a good mental and physical state. Gina Conway
Feeling run down? Overwhelmed running your business? A new wellbeing collaboration from AXA PPP healthcare for small business owners can help you manage health and wellbeing to get the most out of your day, one step at a time. more»