Speaker 1: In today's video we will discuss stress and how to effectively manage it at the workplace. Stress in the workplace is a common problem and managers are not immune to it. Research by Future Forum shows that mid-level managers are feeling burnout more than other workers with a shocking 43% reporting burnout. This group also has the highest levels of stress and lowest levels of work-life balance in the workforce, according to the study. Job stress can be defined as the harmful physical and emotional responses that occur when the requirements of the job do not match the capabilities, resources, or needs of the worker. Job stress can lead to poor health and even injury, for example, a person might feel under pressure if the demands of their job are greater than they can comfortably manage, leading to reduced work output in the short term and burnout in the long term. Australian Council of Trade Unions survey of over 5,000 workers indicated that 25% of workers tip time off each year for stress-related reasons. In fact, managers often face more stress than other employees as they are responsible for overseeing the work of others and ensuring that projects are completed on time and within budget. Other sources of work-related stress include conflict with co-workers or bosses, constant change, and threats to job security, such as potential redundancy. Stress can also have negative effects on both managers and their teams, reflected in decrease productivity, increased absenteeism, and a decrease in job satisfaction. According to Medibank Private, stress-related workers' compensation claims have doubled in recent years, costing over $10 billion each year. As such, stress management is a crucial skill for managers as they often face high-pressure situations and multiple demands. Let's look at some reasons why stress management is important for managers. Reason 1. Improve productivity as managers are able to manage their stress effectively, allowing them to focus on their work and make better decisions, which can lead to increased productivity. Reason 2. Better health as chronic stress can lead to a range of health problems, including anxiety, depression, and heart disease, whereas effective stress management can help managers maintain better physical and mental health. Reason 3. Better decision-making. Stress management leads to better decision-making, as stress can cloud a manager's judgment and lead to poor decision-making. Reason 4. Improved relationship with all stakeholders. There is also an improved relationship with all stakeholders, as stress can cause tension between managers and their teams, leading to decreased morale and productivity. According to Medibank Private, a total of 3.2 days per worker are lost each year through workplace stress, as such. Effective stress management can help managers build better relationships with their teams, leading to a more positive work environment. Overall, effectively managing stress allows managers to maintain their well-being, make sound decisions, and lead their teams effectively. Let's look at some quick tips for managers to effectively manage their stress levels. Regular exercise can help reduce stress levels and improve overall health by reducing anxiety, depression, and negative mood, whilst also improving self-esteem and cognitive function. Effective time management can help reduce stress levels by ensuring that tasks are completed on time. Taking time for self-care, such as practicing mindfulness or getting a massage, can help reduce stress levels. Delegating tasks to others can help reduce stress levels by freeing up time and reducing the workload. In conclusion, stress management is essential for managers to be effective in their roles. By managing stress effectively, managers can improve productivity, maintain better physical and mental health, make better decisions, and build better relationships with their teams. Remember, effective stress management is an ongoing practice that requires self-awareness, proactive strategies, and a commitment to self-care. Thanks for watching, and we hope you found this video helpful. If you have any questions or other problems, please post them in the comments section.