Are you feeling under the pump in the leadup to end of financial year?
According to a report by Frontier Software in February 2024, preventing burnout and promoting wellbeing ranks among the top 5 concerns for HR professionals. A study by GoodHabitz found that 81% of Australian workforce faces stress and burnout, which surpasses the global average of 73%.
By actively implementing strategies to bolster wellbeing, employing self-mastery techniques, and nurturing a culture of collective resilience, your organisation can navigate the impending busy period with confidence, emerging even stronger and more resilient. The members of your team will also reap the rewards – feeling supported by the business can benefit retention, increase productivity and build motivation.
The mounting pressure, for example, on finance teams for end-of-year reports, or in Not-For-Profits managing EOFY fundraising campaigns, underscores the necessity of safeguarding the wellbeing of team members. Taking proactive measures to support your team through the challenges of EOFY is essential. This can include offering flexible work arrangements to mitigate stress, facilitating access to wellness programs, and most importantly, fostering an environment of transparent communication and mutual support.
Understaffing and overworking can also be a key factor in a burnt-out team. Making sure you have enough people power to fulfil what needs to be done can be a foolproof way to ensure the health of your team. One effective approach is to consider bringing in temporary staff during peak work periods to provide additional support.
Recognise the Signs
Recognising the signs of burnout and providing accessible resources for mental health support are pivotal aspects of a holistic approach to employee wellbeing during this period. HR leaders can play a key role in raising awareness and fostering a supportive culture where team members feel empowered to prioritise their mental health without fear of stigma or reprisal.
By looking at the signs, you can also close the communication gap between employees and managers. GoodHabitz’s latest report found that amongst workers that experience burnout, 56% chose to confront their difficulties in isolation without seeking support from their supervisors.
Burnout can look like…
- Decreased Performance: Team members might struggle to meet deadlines or produce work of their usual quality.
- Increased Absenteeism: More frequent sick days or unexplained absences.
- Lack of Engagement: Employees may seem disinterested or detached from work, showing little enthusiasm or involvement.
- Interpersonal Conflict: Tensions among team members may rise, leading to conflicts or strained relationships.
- Reduced Creativity and Innovation: Burnout can stifle creativity and innovation, leading to a lack of new ideas or solutions within the team.
- Decline in Customer Satisfaction: Burnout can impact customer interactions, resulting in decreased satisfaction levels or increased complaints.
What Your Organisation Can Do
Investing in professional development opportunities for team members can also significantly contribute to their resilience and overall wellbeing. Providing training in stress management, time management, and emotional intelligence equips people with the tools they need to navigate challenging situations effectively and develop resilience in the face of adversity.
Safeguarding Your Own Wellbeing
On an individual level, it is also important that you take proactive steps to safeguard your own well-being during EOFY. You cannot lead a resilient team if you are experiencing burnout yourself. Establishing clear boundaries to maintain a healthy work-life balance, incorporating mindfulness practices into daily routines, and seeking assistance from your manager when necessary are essential strategies, and you can lead by example.
Inner resilience and emotional intelligence are indispensable attributes for navigating workplace pressures with composure and detachment. Cultivating self-awareness and self-regulation enables individuals to mitigate stress, maintain focus, and make well-informed decisions even amidst uncertainty and high-pressure situations. Encouraging team members to develop these skills through regular practice and reflection can have a transformative impact on their ability to thrive during EOFY and beyond.
Fostering a culture of collective resilience within your team is paramount to enhancing overall wellbeing and performance. Encouraging open dialogue, providing opportunities for skill development and growth, and celebrating successes fosters a sense of camaraderie and support. By recognising and appreciating the contributions of each team member, organisations can cultivate an inclusive and empowering work environment where everyone feels valued and motivated to excel.
Building resilient teams necessitates a comprehensive approach that addresses both organisational and individual needs.