Small businesses are essential to the growth of an economy, despite the fact that running one may be a challenging endeavour that is not for the faint of heart. Small business owners frequently find themselves on the verge of burnout as a result of needing to respond to emails after normal business hours, working on the weekends, juggling a range of challenges, and maintaining a “always on” mentality.
A recent survey conducted by American Express found that more than a quarter of small business owners and executives (27%) believe that their professional responsibilities sometimes interfere with their personal life.
It is hardly surprising that over half (49%) of owners of small businesses report feeling exhausted.
The significance of maintaining a healthy work-life balance is generally accepted, and it may even be more important now than it has ever been before, given the prevalence of burnout in today’s culture.
Even while being a leader requires you to be accessible anytime your company or team needs you, having a full life also requires you to make time for the things you enjoy doing that are unrelated to work. For example, you could play sports on the weekends.
Finding the optimal equilibrium might prove to be difficult.
Stress versus wellness
The pandemic has caused people in their personal and professional lives to pause for thought. According to the findings of our survey, 71% of respondents state that the pandemic has caused them to reevaluate both their personal and professional life. Because a poor balance between work and personal life is known to be counterproductive, the importance of this topic cannot be overstated. 62% of executives believe that when they do not value leisure, they are more likely to make mistakes.
Another negative result of the struggle to keep work and family life separate is that it can be difficult for leaders to disconnect from their professional lives, which can have a negative impact on their mental health.
For instance, 46 percent of people have expressed regret that they are unable to spend enough time with their friends and family due to the demands of their jobs.
In spite of the fact that 86% of corporate leaders believe taking regular time off from work is essential for their health, these individuals are aware of the benefits of pausing from their job and are willing to alter this.
The research indicates that taking a break will be beneficial and will result in better leaders and managers; business owners are aware of this fact.
According to the findings of the survey, respondents are aware that maintaining a healthy work-life balance will lead to improved mental health (48%), an elevated mood (35%), and more meaningful relationships with colleagues (30 percent).
They also note a wide range of professional benefits, such as an increase in energy and drive, greater productivity and creativity, and an overall clearer knowledge of what is essential for their firm.
It’s crucial to prevent burnout.
Therefore, striking a good balance is crucial if one wants to avoid burnout and make the most of the psychological and professional benefits it offers. Nevertheless, the way in which CEOs of small companies use their free time is another source of useful information.
- The majority of respondents (58%) believe that they may benefit the most right now by taking a “physical” break, which they have defined as having sufficient rest.
- One-third of the persons who participated in the survey claimed that they would benefit from taking a “emotional” holiday from having to constantly meet the desires of other people (including customers, presumably)
- A survey found that one in four adults (25%) would like to take a vacation from their smartphones, laptops, and other forms of technology in order to experience a “sensory detox.”
When asked how they liked to unwind, the most common response was “time by myself.” However, our research found that travelling and experiencing new places and cultures was crucial to finding balance for 40% of respondents, and 20% of respondents said they focused on pampering and indulging in activities like visits to spas. About one in eight individuals expressed an interest in acquiring a new talent, such as playing a musical instrument or speaking a foreign language (13 percent).
How to make downtime a priority
There is no one strategy that can successfully promote work-life balance for everyone. Obviously, the concept is subjective and changes based on the individual and the things that are important to them in life.
On Fridays, I have to make sure that I log out early so that I can go to the gym. It is essential to make time for leisure at intervals that are convenient for both you and your organisation. We invest a lot of effort into helping business leaders both inside and outside of the workplace at American Express. One way we do this is by providing them with advantages that enable them to do more of the things they like doing.
Because of the additional burden that firms are under as a result of rising costs and ongoing problems with the supply chain, it’s possible that leaders may be hesitant to take vacations. However, those that are successful in striking the optimum balance appear to be in the greatest position to improve relationships with their most important stakeholders, handle day-to-day challenges with a greater degree of zeal and ingenuity, and ultimately run better businesses.