Stressed SME workers look to leave roles
Two thirds of employees at the UK’s small and medium-sized firms admit to lacking motivation in the workplace, yet 81% of employers do not believe there is an issue.
The research from Moorepay also found that 73% of workers believe their colleagues to be stressed, although managers and owners were unaware in most cases.
It can become a major issue for businesses as productivity can drop and it can have an adverse impact on sales, finances and other business operations.
Among the reasons listed by staff for feeling demotivated were stress in the workplace, listed by more than a third of respondents, alongside the long wait for pay day and the financial fallout that follows Christmas.
Nearly half of those questioned said they intend to look for new employment in the first three months of 2017 while only a fifth of firms revealed they understand the influence of January blues on their business.
However, many still believe that outside factors are highly influential in how their staff feel and are not actively trying to improve their situations.
There can be several financial implications for small businesses who are struggling to motivate staff and enhance productivity, especially for those operating on tight margins.
Reduced productivity can limit sales while there are also costs attached to attracting and recruiting new staff when others have left to go elsewhere.
The issue can be particularly paramount in retail, as large levels of finance are usually spent ahead of Christmas on stock and temporary staff, meaning the cash flow can be pressured in January.
Options reviews can help to pinpoint solutions for businesses that have financial concerns, while refinancing could be an alternative for those looking to ensure growth or improved cash flow.
Being aware of the issues that staff may be facing in January can aid a business in the long term, especially if it is possible to engage with employees and offer more support.
This could be anything from salary increases to promoting clearer career development opportunities – both of which can influence an individual’s decision to stay or leave a business.
By Phil Smith