Economic development depends on small enterprises, yet operating one may be a demanding experience not for the faint of heart. Small company entrepreneurs often approach burnout due to after-hours emails, working on the weekends, handling a variety of difficulties, and having an “always on” attitude.
According to a recent American Express poll, more than a quarter (27%) of small company owners and executives say work routinely interferes with their personal lives.
It makes sense that almost half (49%) of small company owners feel burned out.
Given the prevalence of burnout in today’s society, the value of a healthy work-life balance is widely acknowledged and may even be more crucial than ever.
While being a leader means being available whenever your company and team need you, living a full life also means making time for the activities you like outside work.
Finding the right balance may be challenging.
Stress versus wellness
The epidemic has prompted both professional and personal contemplation. Our study shows that 71% of people claim the epidemic has altered how they see their personal and professional lives. With work-life imbalance recognized as unproductive, this significance cannot be stressed. 62% of executives think they make more errors when they don’t prioritize leisure.
Leaders who find it difficult to turn off from work sacrifice their mental health, another effect of the battle to keep work and home distinct.
For instance, 46% of people say they feel bad about not spending enough time with friends or family because of job obligations.
Though 86% of company executives feel frequent time off from work is crucial for their wellness, they recognize the value of taking a break and are eager to change this.
According to the study, pausing will benefit and produce stronger leaders and managers; entrepreneurs are aware of this.
According to the poll, participants recognize that a good work-life balance would result in greater mental health (48%), increased mood (35%), and closer connections with coworkers (30 percent).
They also mention a wide range of professional advantages, including increased vigor and drive, enhanced productivity and creativity, and an all-around clearer understanding of what’s crucial for their company.
It’s crucial to prevent burnout.
Therefore, maintaining a healthy balance is essential to prevent burnout and reap its emotional and professional rewards. However, how small company executives spend their leisure time also provides valuable information.
- A “physical” break, which they define as enough rest, would be most beneficial to them right now, according to 58% of respondents.
- One-third (31%) of respondents said they would benefit from an “emotional” vacation from having to continually satisfy other people’s wants (including customers, presumably)
- A quarter (25%) of people want to disconnect from their phones, computers, and other technology for a “sensory” break or digital detox.
Our study found that while “time by myself” was the most popular response when asked how they liked to unwind, 40% said that traveling and experiencing new places and cultures was crucial to finding balance, 20% said they focused on pampering and indulging in activities like spa visits. About one in eight said they were interested in learning a new skill like a foreign language or musical instrument (13 percent).
How to make downtime a priority
No one method works for everyone to improve work-life balance. Of course, the idea varies depending on the person and what they value in life.
I must ensure I log out early on Fridays to go to the gym. It’s crucial to prioritize relaxation at times that work for you and your company. At American Express, we put a lot of effort into supporting business leaders at work and beyond the office by giving them benefits that let them accomplish more of what they like.
Leaders may be reluctant to take a holiday because of the increased strain that growing expenses and persistent supply chain issues are putting on organizations. However, those that do achieve the ideal balance seem to be best positioned to enhance interactions with their major stakeholders, approach daily issues with more vigor and innovation, and ultimately operate stronger firms.
Stacey Sterbenz is general manager, global commercial services UK at American Express