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Stress costs business billions… bringing you hope
Writes Andy Johnson, head of Change Partners, the company that pioneered executive coaching in South Africa …
Lost productivity costs attributable to employee stress top $300 billion a year in the USA, according to recent studies. One form of stress – that related to money worries – costs US business $15 000 per year per affected employee.
Ironically, statistics like this are good news for stressed executives in South Africa. They indicate that business impacts are considerable, cause concern at boardroom level and are likely to prompt remedial action at companies wedded to sustained performance.
Once, stressed executives may have been expected to ‘deal with it’. Not any more. Companies that care for the bottom lineand their people now engage in various interventions; including executive coaching.
A coach is no stress-busting panacea, but is often an effective contributor to a wider solution.
A coach who has assisted a top performer for some time can take on a preventive role by working on delegation skills, time management and priority-setting. Improvements here can help prevent the onset of destructive behaviours and other manifestations of stress.
In many cases, however, a coach is called in because a beleaguered executive obviously needs support, and stress and depression are potential problems.
In a situation like this, focused coaching is often applied. The coach acts as a ‘sounding board’ while encouraging the executive to share concerns. Work on specific skill-sets might be necessary; especially delegation, communication and prioritisation.
The coach may also recommend that a specialist coaching psychologist be consulted or alert the individual and company to the need for medical and psychiatric intervention.
Stress is often a product of a complex mix of factors involving the individual, the individual’s personality, strengths and weaknesses, spouse and family, money worries and business matters.
A coach is hardly an expert in all areas, but is usually well placed to judge what the executive can fix in his working environment and what he can’t.
Sometimes strategic issues are involved. The company doesn’t just need to ‘fix’ the executive but key aspects of the business – perhaps recruitment and talent retention, incentivisation structures, industrial relations policy or some features of corporate culture.
A coach operating at a high level can often encourage a review or at least a discussion of issues like this.
Successful businesses nurture and support key contributors because profits melt down when executives melt down. This sounds selfish, but it is an assurance that help is at hand for stressed executives … or should be; especially if executive coaching is part of the corporate toolkit at the company concerned.
Note:
Change Partners is South Africa’s foremost executive coaching organisation. Founded in 1998 it was the first practice in South Africa to focus exclusively on leadership development and coaching of business leaders. Our focus is exclusively senior business leaders, as we believe the foundation of the coaching processes is an effective, open dialogue between equals. All Change Partners coaches have successful business careers in their own right and they bring this wisdom to the coaching experience.
Kind Regards
Sancia Harry
Intern-Account Executive
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