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BOB DAVIS

President/CEO - BBB serving Northeast and Central Louisiana and the Ark-La-Tex


MY REP

BOB DAVIS

BBB serving Northeast and Central Louisiana and the Ark-La-Tex
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Dianna


DIANNA PENNINGTON

Red River Bank

BBB Help Center

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MY REP

BOB DAVIS

BBB serving Northeast and Central Louisiana and the Ark-La-Tex

Ask Me

Manage Frequency

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ME

DIANNA PENNINGTON

Red River Bank

BBB Help Center

Stream Feed

My Account

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Bob Davis

BBB serving Northeast and Central Louisiana and the Ark-La-Tex

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BEYOND TIME MANAGEMENT: MANAGING STRESS AND GROWTH IN UNCERTAIN TIMES

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Running a business has always been challenging, but in today's rapidly changing
and unpredictable landscape, managing business stress while fostering growth
might seem nearly impossible. But it isn’t. Here are some research-backed
strategies that entrepreneurs and business leaders can employ to navigate stress
and drive business growth in uncertain times.

Recent research published by the American Psychological Association revealed
just how much pressure business leaders are under. Uncertainty in the business
realm mirrors the everyday chaos most of us feel in our daily lives. The
heightened stress affects decision-making, crimps employee morale, and drags on
business performance. Recognizing and addressing this stress is crucial for
maintaining both personnel well-being and business success. The alternatives –
disengaged leadership, employee burnout, pervasive cynicism, and apathy – can
quickly destroy a business.



STRATEGIES FOR MANAGING BUSINESS STRESS

 1. Strengthen Decision-Making: If you feel like you’re guessing more than
    deciding, take a closer look at how you make decisions. Structured
    decision-making can help reduce the stress of daily choices as well as
    future business moves. Frameworks such as SWOT (Strengths, Weaknesses,
    Opportunities, and Threats) analysis, situational assessment, or scenario
    planning help business leaders fully understand all factors involved in
    making a business decision. Decision-making analysis can also give
    businesses a clearer understanding of what is working well. When people are
    stressed and worried about the future, it can be easy to lose sight of a
    company’s strengths.

 2. Build a Support Network: Social support plays a role in reducing business
    stress. Engage with mentors, business networks, and in-person or online peer
    groups. If you don’t yet have a support network, look for local business
    groups, volunteer organizations such as SCORE, and online platforms to share
    experiences and gain insights from others facing similar challenges. Don't
    forget your personal network when it comes to finding a mentor. LinkedIn and
    Twitter can be great resources for connecting with other professionals and
    potential mentors. Everyone is feeling stressed, and most people want to
    help each other. Be ready to help others in return.
 3. Implement Stress-Reduction Programs: A workplace environment that
    prioritizes employee well-being can reduce business stress by slowing
    employee churn and boosting morale. Effective stress reduction programs are
    not 50-question surveys that eventually tell a worker to take deep breaths
    and smile more. Do your homework (or better yet, test-drive a few
    alternatives) before you buy or sign a contract. Then ask yourself: Did that
    workshop or wellness program make YOU more productive and less-stressed? And
    have you taken steps to make your work environment less stressful? Research
    conducted since the pandemic has shown that workers value open communication
    about mental health more than wellbeing and stress-reduction for
    individuals.
 4. Practice Mindful Leadership: Mindfulness techniques – being mentally present
    and fully “in the moment” – help business leaders manage their own stress
    and make more balanced decisions based on information and not on emotions or
    past mistakes. Honest, open communication is a cornerstone of mindful
    leadership as well. Business leaders who actively listen, empathize and
    trust their workforce can reduce stress by cultivating trust. Mindful
    leadership doesn’t happen overnight, but by consistently demonstrating
    honesty and vulnerability over time, leadership fosters employee
    satisfaction and retention as well as business sustainability.
 5. Focus on Effective Employee Engagement: Workers who believe they’re part of
    a team will show up on time, get more done, and stay with their company.
    However, the majority of the U.S. workforce (65%) is not engaged, according
    to Gallup's State of the Global Workplace: 2022 Report. Employee engagement
    must be more than once-a-month damp pizza in a conference room, an annual
    employee survey with no follow-up, or a retreat for three favorite midlevel
    managers. Employee engagement starts with leadership that is mindful of and
    responsive to all employees. Transparent communication at all levels is
    critical, and everyone must feel safe voicing their opinion. When it comes
    to lowering stress, the benefits of transparent communication are
    particularly noteworthy. 


Managing business stress while fostering growth requires a combination of
strategic planning, adaptability, mindful leadership and genuine employee
engagement. Businesses that adhere to the BBB Accreditation Standards lower
stress and drive growth through honest communications and transparency with
clients ... even when they have to share bad news. Customers trust
BBB-Accredited businesses to uphold the attributes of a better business – from
lawful business practices to ethical advertising, selling and customer
experiences. Employees know that BBB-Accredited businesses must continually meet
these standards:

 * Build trust by establishing and maintaining a positive track record in the
   marketplace.
 * Advertise honestly by following established legal and ethical advertising and
   selling practices, including, but not limited to, the BBB Code of
   Advertising.
 * Tell the truth: Honestly represent products and services, including clear and
   prominent disclosures of all material terms. Be clear in all written and
   verbal representations and include all relevant facts in all transactions.
 * Be transparent: Openly identify the business's nature, location, and
   ownership, and clearly and prominently disclose all material facts on a
   customer's buying decision.
 * Honor promises by fulfilling all contracts, commitments, and representations.
 * Be responsive, addressing disputes forwarded by BBB quickly and in good
   faith.
 * Safeguard privacy by protecting any data collected against unauthorized
   disclosure and fraud, collect personal information only as needed, and
   respect the preferences of customers regarding the use of their information.
 * Embody integrity by approaching all business dealings, marketplace
   transactions, and commitments with integrity, good faith, and intent to do
   what is reasonably expected.



Conclusion
Uncertainty and lack of actual communication can breed unprecedented workplace
stress levels, and there’s no end in sight. However, business owners and leaders
who embrace transparency across their organization pave the way for honest,
candid connections, benefiting both individuals' well-being and the overall
dynamics of relationships and organizations. You can lower business stress while
nurturing growth.


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