- SME leaders report increased problems with stress and mental health
- Higher work load, tech strings and lack of downtime contributes all
- Technical concerns such as downtime and data violations relate to leaders
British SME leaders are increasingly stressed and are struggling with mental health concerns thanks to increased workloads, hours and tasks, reveals research from Virgin Media 02. A shocking three quarters (76%) admit that changing business needs affect their mental health.
For most of us, holidays offer a welcome break, a chance to relax and just an opportunity to turn off work -related madness. For SME leaders, however, many do not get the chance, with 28% saying they can’t afford to take free.
Leaders can also expect sleepless nights, with 33% losing sleep at night over technical concerns specifically, as technology -related tensions correlate directly with well -being for 89% of respondents.
‘Too many hats’
Almost someone will tell you that technology can sometimes be worrying, and over half (53%) of SME directors have dealt with technical problems causing lost time, revenue impacts or significant stress in the last month alone.
Surprisingly, CyberSecurity threats as well as technical errors and data violations are mentioned as stress factors for 79% of respondents – with technical downtime costing 37% of managers money that their business cannot afford, and 31% suffering productivity losses as a result.
SME directors spend an average of 10 hours a week on tasks that are outside their core expertise, and 54% have to spend more time on unknown tasks than those they are trained for, which adds enormous pressure.
The report outlines that SME leaders are often De-Facto, who is appointed as a go-to-person for problems they ‘don’t really know how to solve’ (59%) and many are unable to ‘turn off’, with 96%reporting to check emails or solve business problems outside of work.
“The pressure on the shoulders of the SME community is huge,” says Ross Pearson, head of a small business at Virgin Media O2 Business.
“Especially since many people make difficult business decisions and are often stretched over many different areas. SME leaders have always been known to” carry more hats, “but in today’s business landscape the term has a new meaning. The latest data from Virgin Media O2 business reveals the toll for an extra responsibility, with action needed to support leader and mental health.”
