The true cost of working for yourself

As a business owner, you probably work harder than anyone else in your office. You get in first, and leave long after the cleaners have been and gone.

You probably feel the hours come with the territory. But if you really start feeling the stress, you need to take it seriously. Here's why...

Stress isn't something you can shake-off with a good night's sleep. It can damage your health - and your business.

No one is 'immune' to stress

Stress affects everyone. It is a natural reaction to excessive pressure and it is something that has been with us since the beginning of time. When our ancestors came under threat from predators, a rush of adrenaline, triggering extra strength and speed, gave them the ability to fight or take flight from an enemy. Today this same physiological response is produced by all kinds of everyday situations where we feel under pressure, from traffic jams to deadlines to angry customers, but have no outlet for the stress provoked.

It makes you vulnerable and costs you money

According to research from the Carnegie Mellon Institute in the US, people who experience regular stress at work are up to five times more likely to fall sick than those who do not, and stress costs the UK’s employers about £12 million in lost working days, according to mental health charity Mind. The costs to your company may show up in the form of high staff turnover, sick leave and absenteeism, premature retirement, reduced work performance, poor time keeping and reduced productivity.

It may land you in court

Employers are required by law to ensure that employees aren't made ill by their work, and these days that can include any illness brought on by excessive stress. So don't encourage a 'stress' culture in your business.

Employers who don't take stress seriously may leave themselves open to compensation claims from employees who have been made ill from work-related stress. All employers have a duty under the Management of Health and Safety at Work Regulations 1999 to assess the risk of stress-related ill health arising from work activitie and under the Health and Safety at Work Act 1974, to take measures to control that risk.

With stress becoming an increasingly prevalent factor in workplace litigation, many companies are being forced to settle hefty claims out of court.

You're wrong if you think that stress is good for you

It's true that a certain amount of stress is necessary to provide us with the motivation to get anything done, but this covers the mildest of triggers, such as a hunger pang. Being under too much pressure, however, can quickly cause your performance to deteriorate. Prolonged stress wrecks the body: it has been linked to heart disease and ulcers, compromised immune function, colds and flu, diabetes, obesity and even brain damage.

Stress destroys morale

If just one member of your staff is stressed, it can lead to stress in other staff, who may have to compensate. Stress affects mood, too, leading to temperamental swings and irritability. This again can affect morale in the team as a whole.

Ignore the early warning signs of stress at your peril

At least one in five of us now suffers from measurable stress at work, caused by long hours and lack of support, according to researchers at Bristol University. Physically you may feel anxious, depressed, have headaches, start drinking excessively, and experience other stress-related complaints such as eczema and irritable bowel syndrome. Don't ignore these signs: they will pass if you find some way to reduce the strain you are under, starting by saying 'no' to unacceptable workloads.

Don’t let stress damage your life

The culture of working longer hours, and increasing workloads is not only bad business practice, it is also damaging to people's home lives, say experts. In two out of every three families in the UK both partners work, something which can’t be good for a happy, healthy, balanced family life.

So next time you're thinking about pulling another 12 hour day, it may be time to reassess your priorities, think about flexible working, turn your PC off for the night and spend some time with the people who mean most to you.