Tenacity is the ability of employees, leaders, and the organisation they belong to and represent, to rise above critical challenges that can potentially jeopardize the viability of a business.
Unfortunately, with the fluctuating trends in a specific market, or the economy in general, sometimes, organisational leaders and managers unwittingly lose their cool, and succumb to stressors. This scenario consequently prompts the said leaders and managers to resort to known short-term troubleshooting tactics like employee lay-off. In addition, as a result, the employees who get to stay are pushed to work doubly hard with decreased benefits and remuneration. This whole cycle proves vicious and stressful to all individuals involved, regardless of the business hierarchy they belong to—this is the exact manifestation of an organisation on the verge of losing its sense of tenacity.
This editorial is a snapshot, taken from our UK wide public management and leadership skills training courses Birmingham , Exeter, London, Manchester, Newcastle and Glasgow.
Stress-Related Facts
Organisations under turmoil tend to demand more from their employees. Although short term results are manifested by this organisational framework, experts have determined long term disadvantages toward which leaders may be oblivious. Here are helpful facts and figures to ponder.
- In the West, stress-triggered absenteeism, sickness, and poor output quality amounts to $300 Billion USD of lost revenue annually.
- 40% of employee resignation is caused by stress.
- Workers under stress prompt organisations to invest 50% more in healthcare.
- Stress in the workplace scores higher than family or financial concerns in terms of the common triggers of employee sickness.
- Employee replacement requires businesses to invest 120-200% more than the salary of the laid off employee.
- Large businesses amass a $3.6 million annual absenteeism cost.
- Absenteeism and poor performance, indicators of lost tenacity, are directly attributed to work-related depression.
- In a year, an average of 10 sick days per employee is caused by workplace stress.
- Insurance claims due to stress-related workplace accidents cost almost twice the workplace accident claims under different circumstances.
- Organisations pay the cost of employee depression treatment as well as its workplace repercussions.
- In a study conducted in New Zealand, researchers found out that 78% of employees under stressful work conditions think themselves as unfit for their job, whereas 80% anticipate failure before they even take on a task or assignment.
- Milken Institute’s study in 2007, declares that at least $1.3 trillion dollars are spent by businesses to address stress-triggered conditions.
Source: University of Massachusetts at Lowell
These pronouncements may sound astounding and to an extent frustrating, but leaders and managers need not panic, because there is a way out of this predicament. There are excellent solutions available, namely our leadership and management skills training courses Manchester, Exeter, London, Birmingham, Newcastle and Glasgow.
Proactive Measures: Tenacity Made Practical
There are ways to combat a stressful work environment without losing the kind of tenacity that doesn’t require urgent business restructuring like employee layoff. Here are some of these strategies:
- Create an independent and self-driven team through proper task delegation.
- Restructure certain policies that do not cater to productivity-related goals. For instance, allow take-home assignments.
- Avoid ambivalence on expanding your workforce if a specific set of skills and competencies are required.
- Listen actively to all business stakeholders. Stress can be reduced through proper lines of communication.
- Be honest to your team, especially in terms of the business’ current condition
- Encourage your team with regular balanced feedback.
An organisation needs tenacity to continue functioning despite all odds. How to keep this level of bullheadedness can be learned in all good leadership courses.
Copyright © Nicholas C. Hill, 2013
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