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Leadership Series – Positive Psychology: Taking a Strengths-Based Approach

Shari Walton, Organisational Development Consultant

Professor Martin Seligman, one of the world’s leading researchers in positive psychology identified that leaders who role-model positive psychology encourage a flourishing workplace, where scientific research is translated into improved leadership, better mental health, increased wellbeing and higher performance and satisfaction for individuals, improved employee engagement and retention and higher overall organisational effectiveness.

The way we work has shifted dramatically recently with hybrid working, remote teams and virtual interactions making positive workplaces more important than ever before. The ability of leaders to focus on strengths is crucial to achieving wellbeing.


Humans are hardwired to pay attention to negative experiences, and we have a propensity to learn from and use negative information more than positive information. Individuals may be unaware of what influences happiness in their life from one day to the next. At the heart of positive psychology lies the belief that people can lead happier, more meaningful, and fulfilling lives by moving their focus away from the negatives toward a more balanced perspective.

Many positive psychology exercises, such as gratitude journaling, lead to positive outcomes and the below exercise will help leaders find meaning and value from their own experiences by exploring their strengths and how they can utilise them to achieve desired goals and develop a sense of meaning and fulfilment.

Write the story of your past:

  1. Describe the challenges you have overcome
  2. Outline the personal strengths that helped you.

Describe your life and who you are right now:

  1. How do you differ from your past self?
  2. What are your strengths now?
  3. How have your strengths evolved?
  4. What challenges are you facing?
  5. How can you use your strengths to overcome these challenges?

Write about your ideal future: 

  1. How will your life be different than it is now?
  2. How can you use your strengths to achieve this ideal future?
  3. How will your strengths grow?
  4. What kind of person do you hope to become?
  5. Finally, how can you go about achieving these things?

Discovering and nurturing a strengths-based approach will help to shift negative outlooks to positives. Creating meaning through work will encourage motivation, high engagement, and a sense of thriving as well as build strong interpersonal relationships and resilience. For more information or support, reach out to your Relationship Manager to arrange a consult with our Organisational Development Team.

 

Shari Walton is an enthusiastic solution focused senior Organisation Development Consultant with extensive experience designing, developing, and implementing a broad range of Leadership Development, Talent Management, and other Learning and Organisation Development interventions that drive change and support individual, team, and business success.

Shari has over 30 years’ experience in the organisation development field across Finance, IT and Higher Education sectors. This experience is complemented with formal qualifications in Human Resources, Learning & Development, Executive Coaching, along with a Graduation Diploma in Communication Management, and a Diploma in Holistic Wellness Coaching.

 

Image from Pexels by fauxels.

Leadership Series – Resolving Conflict Constructively

Shari Walton, Organisational Development Consultant

Conflict is a continuum. Not enough can lead to apathy, artificial harmony, individuals suppressing their wants and needs and too much can lead to loss of self-confidence, disengagement, depressionbreak-down of work relationships or lack of productivity.

As a leader, how you manage smaller conflicts will impact how many escalate into serious conflicts such as severe employee relations issues, staff turnover, low employee engagement, and even legal claims.

Conflict may arise due to a range of factors including miscommunication, lack of information, conflicting goals, different values or unequal power and access to resources. Whilst conflict is a natural workplace phenomenon, if managed well it can be beneficial for an organisation as it can stimulate diversity of thought, development of more mature and meaningful interpersonal relationships and contribute to innovation.

Consider a recent conflict you may have found yourself in and self-evaluate your response using this checklist:

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We each have a preferred, or default, way of dealing with issues of conflict and although this can serve us well in certain types of situations, we may need to consciously adjust our style and draw on the skills associated with a different conflict style at times. Developing a broader range of interpersonal skills will help improve your ability as a leader to effectively resolve conflicts. Consider adopting some of the ideas identified in the above checklist and proactively look for opportunities to bring these into your future interactions.

For more information or support, reach out to the Newport & Wildman Team to arrange a consult with our Organisational Development Team.

 

Shari Walton is an enthusiastic solution-focused senior Organisation Development Consultant with extensive experience designing, developing, and implementing a broad range of Leadership Development, Talent Management, and other Learning and Organisation Development interventions that drive change and support individual, team and business success.

Shari has over 30 years of experience in the organisation development field across Finance, IT and Higher Education sectors. This experience is complemented with formal qualifications in Human Resources, Learning & Development, Executive Coaching, along with a Graduation Diploma in Communication Management, and a Diploma in Holistic Wellness Coaching.

LGBTQIA+ Support Line

Our counselling services are conducted in an inclusive and non-judgemental space utilising the specialisations of our counsellors, psychologists, and social workers to the very best advantage. Our LGBTQIA+ Support Line is answered by trained and supportive consultants. We will be using pronouns to identify ourselves and we’ll be asking our clients how they would like to be addressed. We go a step further as Newport & Wildman will also provide ACON’s Pride in Health + Wellbeing Program training and support for all of our people, to ensure that communications, policy, documents and procedures are in line with best practice.

Those calling the Support Line will be offered counsellors that we have verified as being trained and/or have experience working with the LGBTQIA+ community, not only for issues related to gender and sexuality but also a broad understanding of the barriers, obstacles and generally different issues that LGBTQIA+ community experiences. Please feel free to make specific requests in order for us to find the most suitable counsellor. Our Customer Services Consultants will work hard to use culturally appropriate language and we welcome feedback to continually learn and improve our service.

We want people to feel they can be who they are and feel they belong.

Call the LGBTQIA+ Support Line on 1300 349 950

AccessEAP LGBTIQ Support Line Flyer Icons

NAIDOC Week – Get Up, Stand Up and Show Up

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It’s another NAIDOC week celebration. The theme for this year – 2022 is as depicted in the above poster. It is a fitting theme as it encourages everyone that believes in what NAIDOC stands for to embrace just that, to GET UP! STAND UP! AND SHOW UP! on all that we have decided to achieve for our people and our communities. The fact is we cannot afford to rely on others to bring about much needed changes we so desire. Any desired achievements lie squarely on our shoulders, both old, and young emerging leaders of our Indigenous and Torres Strait Islander people. As the theme calls us to do, Let us all - Get Up, Stand Up and Show Up where and when it matters most.

Now is the time to consult with Aboriginal and Torres Strait Islander leaders, organisations and community on the services and resources that best meet the needs of our people.

The tides are slowly moving and as the slogan says, we must be prepared to Get UP! Stand Up, and Show Up for without a united front we will remain standing where we find ourselves today.

 Lydia Gah, Holistic Counsellor and Coach

Support through a tragic event

Traumatic events disrupt lives physically and psychologically, creating intense emotional distress for individuals, families and whole communities. Organisations play a vital and valuable role in assisting and supporting their employees and their families in the immediate aftermath and in the days, weeks and months following tragic events.

The immediate focus is to ensure that everyone is safe. At this present time, particularly with intense media coverage and access to information on the internet, it’s important to acknowledge that this is a heightened state of emotion for everyone involved. It’s important to be aware that everyone will respond differently and everyone’s needs will be different, initially and over time. Being prepared to provide initial and long term support for people will enhance and promote their own personal coping strategies and resilience.

What your people will need right now is (download pdf version here):

  • If needed, allow additional time at home to spend time with family and friends - this helps them to feel safe and connected, and reassure others of their safety.
  • Make sure your people have access to support information and numbers - specifically the EAP and any other services you may have in place.
  • Give people assurance that affected families will be supported in some form or another.

Over the coming days, and in time, what your people will need is for you to provide simple and accurate information on how to access services, specifically encourage, and make it easy to speak with a professional counsellor. Most people will not want to speak to a counsellor in the initial days or weeks as they support each other. It is in the long term when people need support from a counsellor or their Employee Assistance Program.

Create an environment that allows people to talk amongst themselves about fears and hopes related to the tragic events. Openly sharing with others has been known to promote personal recovery. There is also comfort in a shared community supporting one another.

Be mindful and respectful of individual needs. Some people may feel uncomfortable or scared of sharing their feelings. Remember that there is no right or wrong way to feel.

There may be feelings of anger and hopelessness; there will intense feelings of anxiety and fear.

  • Establish an open-door policy that allows people to seek the appropriate care when needed.
  • If possible and when appropriate try to establish normal routines as soon as possible.
  • Encourage people to communicate their needs, rather than assume you know what their needs may be.
  • Maintain communication if an employee is away for any length of time.

An incident of this nature has the power to entirely consume those involved, especially when it has an impact on one’s feeling of safety and one’s family. As leaders and managers, it is within our control to provide support, reassurance and caring. For further guidance download the pdf or call our Manager Support Hotline on 1800 650 204.

Leadership Series – Growth Mindset

Jenny Kahn, Learning & Development Consultant

“Twenty years from now you will be more disappointed by the things you didn’t do than by the ones you did do. So sail away from the safe harbour. Explore. Dream. Discover” Mark Twain

A mindset is much like a mental lens through which we view the world, which drives what we do and why. Mindsets are patterns of thoughts and behaviour, shaped and influenced by several factors such as our past experiences, temperament, learned behaviours and beliefs. Whilst mindsets help us identify opportunities, they might also trap us in self-destructive cycles. The good news is that they can be transformed.

When we have a fixed mindset, our lens can become very narrow. When we adopt a growth mindset our lens becomes wider, enabling us to have a more open, expansive perspective.

Renowned psychologist, Carol Dweck1 coined the concept of fixed and growth mindsets. She says that success comes from mindset– or the way people approach life’s challenges, rather than talent, education, and intelligence. People with a ‘fixed mindset’ believe they have innate and unchangeable intelligence, skills and abilities. People with a ‘growth mindset’ embrace challenges because they believe they can learn from experiences, develop skills, and improve if they practice and persevere – which can lead to greater achievement.

Some considerations for individuals to promote our own growth mindsets include:

  • Hear the fixed mindset voice – you do not need to heed it
  • See things with a different perspective
  • Recognise that you have a choice
  • Challenge your fixed mindset- is it true? What evidence might disprove this?
  • Take action - explore different ways, learn new skills, seek out information and support

Dweck believes organisations that embody a growth mindset, supporting employees to share information, collaborate, admit to errors, and seek feedback tend to:

  • Encourage appropriate risk-taking, knowing that some of these risks might not work out
  • Reward employees for important and useful lessons learned,
  • Support collaboration across boundaries rather than competition among employees
  • Demonstrate commitment to the growth of every employee through development and advancement opportunities; and
  • Continually reinforce growth mindset values with tangible policies

Are we aware of our own mindset and our fixed mindset traps and triggers which of those might get in the way of our personal development and growth? What are we currently doing and what might we do to encourage and adopt a growth mindset – for ourselves, for our teams and for our organisations? For more information and support in developing your growth mindset, please reach out to Newport & Wildman on 1800 650 204.

Jenny Kahn is a Learning & Development Consultant with over 20 years of experience in Organisational Development, Organisational Change and Career Transition. She partners with our customers to promote and enhance performance, productivity and wellbeing for individuals, teams, and organisations across diverse industries. She holds an MBA, Bachelor of Arts (Psychology) and has accreditations in coaching, facilitation, Hogan, FourSight and Lego Serious Play.

1 Source: Dweck, C. (2016). What having a “growth mindset” actually means. Harvard Business Review, 13, 213-226.

Cover Image- Pexels Photo by fauxels

Video: Using the AccessMyEAP App

Presented by: Heaven Campbell & Anthony Bui
Duration: 4 minutes 40 seconds

Embedding Link: https://vimeo.com/686533938

Media Coverage: Regional mental health

Published in The Canberra Times May 13 2022

Letter to the Editor - Melita Griffin, Director Newport & Wildman

Regional mental health

Melissa Meehan's article on the struggling mental health system in regional Australia ("Regional post-COVID mental health crisis", canberratimes.com.au, May 4) raises a troubling trend that is prevalent on a national scale. As demand for mental health support outstrips supply, companies are well-placed to support the system with early intervention.

The Australian Counselling Association reports waiting times of four to six weeks for a quarter of those living in rural and regional areas, but this is just the tip of a deep iceberg. As one of Australia's largest Employee Assistance Programs (EAPs), we've had countless reports of waiting times as long as nine months.

With more than two thirds of regional Australians experiencing depression and anxiety over the past two years, it's never been more important for mental health and wellbeing providers to work together to support those in need. No one should have to suffer in silence. 

I've been encouraged in recent months that many who reach out to us have done so following a recommendation by their general practitioner. It's an important reminder that EAPs work alongside private practitioners with the same goal: to support as many people in need, as quickly as possible.

By offering counselling services through an EAP, mental health care wait times can be drastically reduced - helping to provide interim support for those in need.

This shows that while workplaces don't provide long-term medical assistance, they do have a vital role to play. Early intervention and support is critical in combating the mental health crisis and the work leaders do in their own organisations to foster employee wellbeing is an invaluable tool in providing holistic care.

In the coming months as we ease into life post-lockdowns, I hope to see even more organisations, particularly in regional areas, leading the charge for workplace wellbeing.

Melita Griffin, Director, Newport & Wildman

 

The Canberra Times Website Link

Leadership Series – Manage Change

Samantha Dounis, Learning and Development Advisor

“There is nothing permanent except change.” - Heraclitus, Greek philosopher

In the workplace and indeed in life, change is a constant! Change interrupts the flow, up-ends the status quo and very often leads to conflicts. Effective leaders embrace change, recognise diversity, and manage it well by encouraging inclusion and helping the individual, team, and organisation to thrive. 

Organisations are impacted by changes from various sources - external factors we have no control over, including globalisation, changes in legislation or the economy, as well as internal factors like technological improvements, operational efficiencies or changes in products and services. Resistance to change is natural and should not be discouraged, but rather discussed and understood, bringing in diverse voices to work through the issues.

There are various models that can be successful for managing change in the workplace. John Kotter, a professor at Harvard Business School and world-renowned change expert, laid out an eight-step change process.

Change Management Checklist

  • Create a sense of urgency
    • Establish change as a priority across all populations; everyone should feel the need for change – opportunities and benefits
  • Build a guiding coalition
    • Find a diverse group who will support the change. This may include a sponsor, a senior guiding team and a field team on the ground
  • Form a strategic vision
    • Develop a strategy to drive change, align it to organisational vision, include input from employees, keep it simple and easy to understand
  • Enlist a volunteer army
    • Communicate vision, be inclusive, and welcome input from many
  • Enable action by removing barriers
    • Empower others to act and implement change, include all levels of your guiding coalition
  • Generate short term wins
    • Introduce achievable short terms goals to generate momentum. Visible quick wins should be unambiguous and related to the change initiative
  • Sustain acceleration
    • Capitalise on early wins to drive momentum and keep moving forward
  • Institute change
    • Incorporate changes so they are sustainable and able to be replicated – make them stick

“The secret of change is to focus all of your energy not on fighting the old, but on building the new” – Socrates, Greek philosopher

 

Samantha Dounis is a Learning and Development Advisor who consults with customers to help them manage their learning and development needs. Sam has a strong background in account management and client services and is passionate about workplace mental health. Having completed a Bachelor of Science (BSc) focused in Psychology at UNSW Australia, Samantha brings a wealth of experience in critical thinking, communication, project management, leadership, and research.

The Great Resignation - Is it real?

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The Great Resignation is a label first coined in the United States to describe the way that people were reassessing their priorities and looking for purpose after the new experience of working from home and being faced with the challenges of the global pandemic. This reassessment often resulted in people leaving their current job for another one or choosing a completely different path. Although we may not be seeing the same trend in Australia, there are certainly indications that workplaces are facing pressure from their people to provide more in terms of flexibility, benefits and remuneration.  This pressure is due to three main reasons:

  1. Burnout and Languishing. Burnout is characterised by chronic depletion, and energy depletion resulting in the inability to function. Languishing is characterised by “feeling less”. Less motivated, less productive, less engaged, less enjoyable overall. A general absence of wellbeing.
  2. What is referred to as mortality reality. When faced with a global health crisis we question what is important and why we do what we do. Most often we look for purpose and meaning.
  3. Flexibility and agency. A taste of greater control over the workday was achieved due to the work from home experience and consequently people want more flexibility.

Not all workplaces have the same challenges

Some industries are comprised of a mix of essential workers who have remained in their workplaces while other roles have moved to work from home or a hybrid of the two. Back in 2018, there was a buzz around “flexible work”. However, there was a fear amongst managers and leaders that productivity would decline, and people may take advantage. The worldwide pandemic put the theory to the test with overwhelmingly positive experiences. People were trusted to work from home and by and large rose to the task, exceeding expectations and maintaining productive working remotely. Of course, over time variations in productivity based on several factors may emerge.

Hybrid is now the buzzword

 Almost 75% of people want to be in the workplace some of the time but most wanted a hybrid of work from home and work in the workplace.

Work from home benefits:

  1. More productive, more motivated, more likely to stay and little impact on inter-team relationships
  2. Autonomy to choose how and when they work, can live further from work, save time on commute and money on travel etc
  3. Trust leads to people working longer hours and taking fewer breaks than in an office environment.
  4. Gains in inclusion with fewer microaggressions related to in-person interactions. 

Benefits of working from office:

  1. Motivation from changing environments and people providing stimulus.
  2. Collaboration and culture, important people skills and ability to work in the office together.
  3. Opportunities for learning and incidental interactions which can have high value/impact.

Intergenerational expectations around work

Research shows that there isn’t much difference. People tend to have four top priorities regardless of generation. Differences in approach are more about age and life stage than about generational differences. Here are the priorities in order of importance:

  1. Meaning and purpose
  2. Money to support chosen lifestyle
  3. Community
  4. Leisure time or wellbeing initiatives

Where to now?

Our customers are telling us that their people are wanting more discussion, they want to be heard and have their experiences validated and acknowledged. They do not want to be “preached” to or converted to someone else’s way of thinking. At Newport & Wildman, we bring the discussion to organisations and their people via onsites, debriefing sessions and professional supervision. Our clinicians and coaches integrate with and understand your work environment.

If you need some support, please reach out to us here at Newport & Wildman on 1800 650 204.

Video: 2022 Wellbeing in Focus Calendar - Quarterly Themes

Embedding link: https://vimeo.com/690370409

Video: 2022 Wellbeing in Focus Calendar - How-to

Embedding link: https://vimeo.com/690370536

Video: Burnout - The Butterfly Hug

Newport & Wildman is proudly part of AccessEAP and has collaborated to create a video series.

In The Moment Video Series: Burnout - The Butterfly Hug

Presented by: Julie Chalmers & Annie Panow
Duration: 4 mins 50 secs

 

Embedding Link: https://vimeo.com/692037647

Video: Manager & Leader Hotline

AccessEAP Video Series: Manager & Leader Hotline

Presented by: James Austen
Duration: 3 mins 11 secs

Embedding Link: https://vimeo.com/685331252

Get to know your AccessMyEAP App

It's free to download via Google Play and the App Store. We’re making it easy for you to access your own EAP and wellbeing services with our intuitive and dynamic app.

  • Put yourself in control of your mental health and wellbeing.
  • Make a booking to speak with one of our counsellors.
  • Read tips, strategies and new ways to support your mental health and wellbeing journey.
  • Choose your own wellbeing tools and resources based on your preferences, goals and interests.
  • Take your Wellbeing Check regularly. The questions are based on the positive psychology PERMAH model. 
  • Monitor your results with your personal Wellbeing Tracker.

This free service is provided to you by your employer as part of your EAP services. 

We’re here to help you be your best at life and work. Get started today. 

Google Play App Store.

Please find FAQs regarding the download and use of the AccessMyEAP App, via the AccessEAP website - here.

 

 

 

Self-care in the festive season

As we reach the end of 2021 there has been an increase in cases in some parts of Australia. We appreciate that for many people this may be a time of heightened emotions, particularly as festive celebrations commence and for some, plans will need to change. We, as always, are here to support you through this. Tools and resources can be accessed via our website to support your mental health and wellbeing through the Employee and Employer login areas. Additional resources, including our Wellbeing Check, are also available on our app, AccessMyEAP.

It is important to remember that feeling anxious, fearful, stressed, angry or irritable are common and normal feelings during uncertain times like these. It is important to monitor your own physical and mental health during these times. Download our Self-care and Managing Stress Postcard for signs to watch out for and self-care strategies. 

If you do need support, reach out to us here at Newport & Wildman on 1800 650 204. As always, our people are here to help support you and your people be their best in life and work.

Newport Wildman Wellbeing Postcard Self Care COVID 19 2

 

 

Fulfilling our social purpose - supporting the H.O.P.E. Program

Newport & Wildman is proudly part of AccessEAP. See below the latest update from AccessEAP about fulfilling our social purpose.

The H.O.P.E. Program continues to be the main recipient of our charitable funding for vulnerable families and children. At AccessEAP, we are very proud of the donation of more than $1,000,000 for HOPE and programs to support vulnerable families, which was announced last month. Our contribution has been able to grow substantially each year, and AccessEAP would like to recognise the support of our customers in making this donation. Through partnering with AccessEAP, you not only support your employees’ wellbeing but you also directly contribute to our chosen welfare programs in Australia.

Renee's Story

"My name is Renee, I'm 24 years old and I’m a single mum to my baby boy Rory. The H.O.P.E. program has been so wonderful for me. It has given me such great support and has helped me to be a better mum to Rory. They set me up in a house to help me get on my feet, helped me with budgeting, food planning and set me and my mum up with counselling to help our relationship."

Read more about the H.O.P.E Program and Renee's story here.

We are pleased and proud to report that over the past 12 months, the H.O.P.E. Program and other vital support programs continued to exceed targets, and these are very special targets because they are about helping more mums, bubs and families. 

HOPE infographic

New AccessEAP CEO appointed

Newport & Wildman is proudly part of AccessEAP. AccessEAP is delighted to announce the appointment of Fiona Mackenzie as CEO, commencing 1st February 2022

We are pleased to announce that Fiona Mackenzie has been appointed the new CEO of AccessEAP and Newport & Wildman. An experienced business leader, Fiona will succeed Sally Kirkright and assume responsibilities on the 1st of February 2022. After 11 years as CEO, and successfully leading the growth of AccessEAP and Newport & Wildman to become a leading EAP provider in Australia and New Zealand, Sally has decided to take a sabbatical and will be relocating to country Victoria.

Fiona brings more than 20 years senior leadership experience across multiple industry sectors including Financial Services, Aged Care, Human Services and Business Consulting. This experience includes her current role with Anglicare, a respected for-purpose business, where she is currently Executive General, Manager Customer Strategy and Retirement living.

AccessEAP Chairman Greg Mackay said that Fiona was chosen after an extensive and thorough search and recruitment process. “Fiona is an outstanding choice, bringing experience from financial services, consulting and for-purpose organisations and is well-positioned to help us continue our current strategic journey and be aligned to the culture and values of our business” he said.

While at Anglicare, Fiona re-engineered Retirement Living sales capability to be more agile, professional, data-driven and technology-enabled. “Fiona will bring proven abilities to deliver transformational change in response to changing business environments. Our mission, to help create mentally healthy thriving workplaces and communities, is more important than ever before as we continue to support organisations manage the people challenges of the COVID-19 pandemic.”

Fiona holds an MBA (Exec) and Graduate Certificate in Change Management from AGSM, a Bachelor of Economics from Macquarie University and is a member of the Australian Institute of Company Directors.

Southern Tasmania Lockdown - Support for your people

As you are probably aware, Southern Tasmania is going into lockdown from 6pm Friday 15 October. The lockdown will last for 3 days. As a result of this notice, we have already implemented our business continuity plan to ensure we continue to provide support for our customers and their people.

Face to face appointments in the region will be rescheduled and alternative arrangements will be provided. Telephone or Video Chat Counselling options are still available. Critical incidents and onsite support will be assessed based on an individual basis to determine the best mode of support. 

We would like to take a moment to acknowledge the impact that organisations and people may be experiencing after today’s announcement. We appreciate that for many people this may be a time of heightened emotions and that plans will need to change. We, as always, are here to support you through this. Tools and resources can be accessed via our website to support your mental health and wellbeing through the Employee and Employer login areas. Additional resources, including our Wellbeing Check, are also available on our app, AccessMyEAP.

Reach out to us here at Newport & Wildman on 1800 650 204. As always, our people are here to help support you and your people be their best in life and work.

Financial Check-Up

There is no doubt that COVID-19 has had a wide-ranging impact on all of us. We know that one thing that Australians often worry about is their financial situation. Many of us may experience financial stress as a result of physical distancing requirements and the impact this has had on employers and jobs. It is perfectly normal to worry about our financial situation, even in the best of times, as we try and provide a good life for ourselves and our loved ones. With so much uncertainty across a number of industries and employers, and if our partners or loved ones have lost their jobs, financial related stress may be a key concern for many.

Employers can play a role in helping their employees cope with financial related stress by recognising the impact it can have on different groups in the workplace. It is important to recognise that there are many varied reasons for financial stress. For example, our aging workforce is facing many challenges, including their fear of entering retirement, paying for their children’s higher education and moving their parents into nursing homes. On the other hand, millennials are facing economic instability, crushing student debt, stagnant wages and looming uncertainty about the future.

How individual employees handle financial stress varies greatly. Employers should aim to reduce the impact that this type of stress can have at work in the form of presenteeism. Breaking down and understanding the underlying issues can be the key to helping employees become more resilient.

Here are some basic tips on reducing finance-related stress:

1) Learn to budget: If your financial situation is causing you stress, it’s vital to create a budget. Record all income and expenditure and know exactly what you spend on non-essential items. Be critical of what you are spending and cut down on any unessential items if necessary.

2) Pay off debt: Review and consolidate loans to help get them under control. Pay off your credit card debt and remember to start with the credit card with the highest interest rate.

3) Review fees: It’s important to review your bank and bank products as your life circumstances change. Compare and contrast bank fees and ensure you have the best products for your individual situation. Your bank manager can help talk you through the best options.

4) Save for a rainy day: Having an emergency or ‘rainy day’ fund can help alleviate financial stress knowing you have something in reserve. Start putting money away every month – even if it’s just a small amount, it all adds up.

5) De-stress: It’s normal to feel worried or anxious when times are hard but consider the impact financial stress is having on your life. Take time to relax and de-stress. Taking the right steps towards getting your finances in control will help ease stress.

 To find out more about our Financial Coaching services, call us on 1800 650 204.

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Newport & Wildman acknowledge Aboriginal and Torres Strait Islander Peoples as the First Peoples of the lands we live and work on throughout Australia. We recognise their continuing connection to land, waters, culture and community as we pay our respects to the Elders past, present and future. We extend that respect to all Aboriginal and Torres Strait Islander Peoples who connect with this website.
Aboriginal and Torres Strait Islander Peoples are advised that this website may contain images, voices and names of people who have since passed away.

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Newport & Wildman acknowledges the traditional custodians of the land we work on and their continuing connection to land, culture and community. We pay our respects to Elders past, present and future. 
Aboriginal and Torres Strait Islander Peoples using this content are advised that it may contain images, names or voices of people who have passed away.