A recent hot topic often popping up in the media is “burnout”. Whether it be as an employee or just in general, it’s fair to say that the problem is widespread.
However, I don’t want to focus on the “why” and “how” of burnout.
Let’s explore some possible solutions because, the reality is, burnout has a detrimental effect on business. Business owners have been up against enough in recent times without throwing lower productivity, higher staff turnover and increased sick leave into the mix – all common results of staff suffering from burnout.
Hybrid working models allowing flexibility for employees to deal more effectively with responsibilities outside of work is becoming increasingly popular. Often this is because it cuts out the commute, leaving more time to focus on other areas of life – family, exercise, and projects that they’re passionate.
There is also research that suggests taking a break from work can help alleviate the symptoms of burnout, in particular extended leave. Whether it’s a month, three months or a year…it will be different for everyone. But the argument is that
only taking a short amount of time (ie the usual week here and there of annual leave) actually sees burnt out employees return less recharged than hoped. Click here for the full article.
Taking an extended period of time off might seem unreasonable and unviable, but it’s worth exploring if it means keeping a valued employee in the long term. For both business owners and employee, planning is key so there is as little disruption to the business and no financial stress for the employee. By having a plan in place, it can work for everyone.
If you’re battling burnout, what would time away from work look like for you? Holiday or experience? Starting to work toward a personal goal through studying or volunteering? Maybe it’s just time at home with little or no schedule. Whatever it is, ensure it will give you the mental health benefits needed so that when you do go back to work, your burnout has been reduced or, better still, gone!
If you can negotiate time away from work, then a strategy can be developed to ensure the minimal financial impact. By reviewing your current expenses and adjusting, savings can be increased, or debt can be reduced. The next step would include a review of your asset portfolio to ensure that each asset is still serving it’s intended purpose. What could be sold and where could the funds be reallocated to give you a passive income stream? That way, when you’re away from work, there is still money available.
Whether you’re a business owner or an employee, it’s going to feel strange to think of extended time off work as an option to relieve burnout and the default will be to think it can’t be done. As a Wealth Activist, I would say there’s always options.
Why not think through the possibilities and see where it takes you?