As the EOFY rapidly approaches, stress levels rapidly increase. It’s fair to say that for many busy SMEs, organising the EOFY accounts automatically takes second place to the day-to-day operations. Then all of a sudden, June comes along and panic sets in!
Everyone reacts to stress differently, with some relishing the challenge and others wilting on the vine. The problem is that stress can have a negative impact on employee productivity and often results in more sick leave or mental health days. So with only a few weeks left until you need to have all your finances in order, here are a few strategies that will hopefully reduce everyone’s stress levels.
1. Eat a healthy diet
Now is not the time to reach for the unhealthy snacks and chocolates, as these won’t reduce your stress levels. In fact, they will most probably make you more anxious, because you know you shouldn’t be eating them! Instead, opt for healthy snacks, such as berries or nuts, and increase the amount of vitamin B in your diet as this helps to reduce stress (avocados, salmon, cheese, tuna, bananas, spinach, etc).
2. Keep up with your exercise
Even if you don’t regularly exercise, now is the time to start doing some form of activity to help settle your mind. A gentle 30 minute walk twice a day is easy to fit into your life or try visiting a gym close to your office during lunchtime. If you already exercise regularly, don’t stop just because you are busier than normal and short on time. Exercise increases your endorphins and helps to combat stress and depression – perfect for EOFY blues!
3. Have a good night’s sleep
If you don’t sleep well, your stress levels rise accordingly and with the additional EOFY stress, you might be missing out on a significant amount of sleep. Try creating a bed-time regime that slows your mind and makes your body ready for sleep. For example, turn off the TV, computer and all digital devices 30 minutes before bedtime, have a warm bath or shower to relax your mind and body, and play some relaxing music to help you fall asleep.
4. Share your concerns
If you are feeling stressed at work, talking it over with a colleague might just be enough to get it out of your system. If you can’t talk to a workmate, then try a friend or relative, even a health professional. Hopefully your feelings of stress and anxiety are just due to the impending EOFY deadlines and a simple chat will suffice. Sometimes however, you need to seek out professional help, so don’t be afraid to take this additional step if necessary.
5. Know your limits
If you feel completely overwhelmed at work and the thought of organising your EOFY invoices, payments and receipts seems an impossible task, ask for help. With another colleague working alongside you, the job will be completed in half the time. You can also speak to your accountant, tell them you are swamped and ask their advice. Trying to achieve the impossible can be very stressful, so always know your limits and ask for help when it is needed.
Why not get ahead and review your SME’s insurance policies for the next financial year? Talk to an insurance specialist today.
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The information provided is to be regarded as general advice. Whilst we may have collected risk information, your personal objectives, needs or financial situations were not taken into account when preparing this information. We recommend that you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement before making any decision to purchase this financial product.