A few weeks ago we posted about poor employee performance and its hefty impact on Australian businesses. Unfortunately, we have more bad news to report: studies show that work-related stress can exact an even greater toll, costing companies over $10 billion on average per year.

Stress in the workplace means diminished productivity, low employee morale, recurring absences, a high turnover rate… the list goes on, but any one of these issues can cause significant financial loss for your business. On top of all that there are workers’ compensation claims to worry about, which in themselves demand an exorbitant amount of money. According to a report released by Safe Work Australia, not only are stress-related claims the most common, they’re also the most expensive type of workers’ compensation claim filed each year.

But since everyone gets stressed out at some point in their life, this dilemma is unavoidable, so you should just accept the matter for what it is and move on—WRONG! You don’t have to let stress get the better of you! We’ve compiled some strategies that can help you cut down workplace stress to a healthy, manageable level… leaving you and your employees (and your business bank account) much, much happier.

CONSTANT VIGILANCE
Be alert and aware. The faster you spot signs of stress, the faster you can address the problem and prevent the situation from worsening. Some tell-tale indicators include:

• An employee who takes frequent sick days or is otherwise continuously absent
• Displays of aggression, irritability, or other mood swings
• Noticeable loss of creativity and initiative
• A significant drop in work performance
• Problems with interpersonal relationships
• Lower tolerance of frustration and impatience
• Disinterest
• Isolation

Watch for staff members who are putting in unusually long hours or juggling huge workloads. Tight deadlines, abrupt/continuous changes to expected duties, and restructuring within the organisation are also big “stressors” in the workplace. Bad management practices only exacerbate matters, so don’t forget your supervisor basics! 

READY, SET, PLAN OF ACTION
Once you’ve identified the stressors and their sources, you can start devising a plan to fight back. First, clear up any confusion that might be inhibiting productivity and performance. Set comprehensible, reasonable goals that everyone can achieve, goals that are measurable and unambiguous. But be careful not to under aim—targets need to be attainable yet still challenging enough to maintain interest. Encourage your employees to follow the same guidelines when setting personal goals, as well. Having a clear focus in mind deters anxiety and uncertainty, which feed stress.

Second, you’ll need to re-evaluate how time is being managed in your workplace. Inefficiently appropriated time contributes to about half of work stress, so create a schedule or task agenda to follow. It doesn’t have to be verbatim, just a map to show you where you’re at and where you’re going. If your company has a task management system, keep it thoroughly updated and use it! Task management systems are an easily accessible forum of who’s doing what, what needs to be done, and what tasks have already been completed. With proper optimisation, this convenient tool can streamline your business processes, saving everyone time and energy.

Once tasks have been appropriately prioritized and delegated to the right people, the next important step is to stay on track. It’s very easy to slip out of good time management practices and into bad habits, so constantly review your action plan for relevancy and effectiveness. Since procrastination is your biggest foe in this regard, try to limit distractions if you can. While it may seem harmless to loiter around the water cooler for a few extra minutes, remember: wasted time adds up. Just five minutes of procrastination per working day each week amounts to nearly half an hour of non-productivity for one person alone. If you have fifteen employees, those numbers mean 7.5 hours’ worth of unfinished work.

That’s not to say you don’t deserve a break or two. When truly necessary, a break can help you regain your focus and get back on track, balancing your stress levels in the process. Ironically, if you find yourself procrastinating with a certain task, short breaks can help! Try building your concentration with sporadic, focused bursts of attention, allocating yourself time-outs throughout the day in which you simply sit and reflect on the task at hand. This technique will refresh your mind and your perspective, so you’ll be able to complete the task more quickly, more efficiently, and with better results than if you forced yourself.

ONE LAST NOTE: EXPECT THE UNEXPECTED
“Forewarned, forearmed; to be prepared is half the victory,” is a famous quote from Spanish novelist Miguel de Cervantes, and it is perhaps the most applicable advice for the prevention of unnecessary stress. It’s a simple fact of life: things don’t always go the way we plan. Sudden roadblocks can cause complications in your schedule, and if you’re not ready for them, you can find yourself caught in a continuous cycle of snags and delays—in other words, the perfect breeding ground for stress.

Always anticipate impediments and budget sufficient time to overcome them, even if the prognosis seems 100% positive. That way, should an obstacle arise, you and your staff are prepared resolve the issue and move on.