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Improve Productivity in an Uncertain Economy

CURRENT ECONOMIC FACTORS ARE INCREASING STRESS.  You may have noticed that the United States economy is somewhat unsure of itself these days.  Consumer prices are rising, stock markets are fluctuating, and the rate of unemployment has increased.  As illustrated in a recent study by Wayne Hochwarter of Florida State University's College of Business, these economic stressors are directly impacting the workplace environment.  "People concerned with the effects of gas prices were significantly less attentive on the job, less excited about going to work, less passionate and conscientious and more tense," Hochwarter says in a statement.

STRESS DECREASES PRODUCTIVITY AND HURTS THE BOTTOM LINE.  The American Institute of Stress estimates that U.S. businesses lose up to $300 billion per year (or $7,500 per employee) due to stress related issues including compensation claims, reduced productivity, absenteeism, medical expenses, and employee turnover.  The Bureau of National Affairs suggests that forty percent of job turnover is due to stress.

WHAT CAN BE DONE?  Here are a few suggestions on ways to reduce workplace stress.

• Make it clear to your employees that you have a plan and they are part of it. Having a comprehensive strategic plan in place that is accessible to all employees does wonders for relieving anxiety in the workplace.  Employees are much more productive when they know what they are working toward and are not anxious about the future of their job or their company.

• Celebrate your successes!

  Too often, particularly in times of high stress, companies forget to celebrate their successes or affirm the work of employees.  A little celebration and affirmation can go a long way toward future productivity.

   

• Let your employees know that you are sensitive to the pressures that they are facing and their need to relieve stress.

  

  Many companies might be tempted to cut "stress-relief" activities during periods of economic uncertainty.  It is important to recognize that now is the time when these exercises are needed most.

   

• Focus on Communication.

  According to a survey by the Global Business and Economic Roundtable on Addiction and Mental Health, three of the top four workplace stressors relate to poor communication.  Reduce stress by making an effort to improve channels for regular communication, implementing informal performance reviews, and offering positive feedback and constructive criticism. 

GOOSEWORKS.  Gooseworks offers a number of team building, professional development, and stress relief programs.  We also partner with Crowley & Company to offer interactive strategy sessions.  These sessions utilize graphic tools to capture a vision and plan for your organization that is easily shared with all employees.

For more information, please contact:
Phil Kiracofe
Chief Innovation Officer
Gooseworks Consulting, LLC
phil@gooseworksconsulting.com
410.952.5143

Or visit us online at:

www.gooseworksconsulting.com

PARTNER

DISCOUNTS

Book this month and save on meeting space and team development!

$100.00 OFF!!

Kent Manor Inn & Restaurant

Save $100.00 off any meeting space rental booked by July 15, 2008.  The Kent Manor Inn provides a unique meeting place for conferences, business meetings, and retreats.  Located on Kent Island in Stevensville, MD.

www.KentManor.com

Contact Christine Phillips (443.994.7919) and mention this newsletter to receive your discount.

$100.00 OFF!!

Gooseworks Consulting

Save $100.00 off the total cost of your next program by booking by July 15, 2008.

Gooseworks Consulting is a full service team development company.  Let us work with you to improve the effectiveness of your team.

www.gooseworksconsulting.com

Contact Phil Kiracofe (410.952.5143) and mention this newsletter to receive your discount.

Copyright 2008, Gooseworks Consulting, LLC. All rights reserved.

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