For small business owners, regular office hours or a planned holiday is far from the top of mind. The Covid-19 pandemic’s stress has placed many companies under a financial strain, and the pressure is starting to mount.
Before you lose your cool at your staff or suffer a road rage incident, consider what the stress of the pandemic is doing to your health and overall well-being.
Can’t stop, won’t stop
Do you believe the company will collapse if you take a few days off to reboot? You may need to re-look your business model. Suffering from constant anxiety, lack of sleep, or non-stop stress is not conducive to a fair decision-making process It can put you at risk of making less than effective decisions about your business.
Understanding that you need to consider all options. Risks associated with funding, suppliers, and staff is critical for running a small business in SA. If you are not of sound mind, you can make bad calls even if you think you are.
Time to Reboot
For most companies in SA, the December holidays are a time of rest. Many close down to allow their staff to recoup and recover. This year, companies are under strain as the team looks to them for financial assistance. Bonuses and increase may not be on the cards this year based on a gloomy economic outlook, and owner/manager guilt may be an additional emotion that is setting in.
Be Kind to yourself
If you cannot pay your staff bonuses or close for a few weeks for a holiday, it is essential to have conversations with your team to explain the reasons and the situation the company finds itself in.
It is not a good idea to be placing the company into debt to pay staff bonuses because you feel guilty about the company’s lack of funds. Deferred payments or bonuses, birthday bonuses, split bonuses, or even incentives based on performance are all other ways you can incentivise your staff without letting them down too severely for a Christmas bonus.
Come back strong in 2021
Consider taking a break and returning in the new year with renewed energy and ideas. The benefits will outweigh the stress you add to your system by not taking care of numero uno.
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