Newsletter: October 2010
Dealing with Workplace Time Pressure
As entrepreneurs and small business owners and leaders, most of us struggle with a pervasive and deep sense of urgency – that is, time panic and resulting wild rushing around that manifests itself in our work like ADHD races the thoughts in our head.
Due to the fact that many entrepreneurs are their entire staff, or alternately have the responsibility of leading their entire staff, high pressure and workload abound – only perpetuating reality of "the race". And with the tremendous benefits of great technology, comes the call for immediate responsiveness.
In addition to the obvious impact of excessive stress, we find that the time panic and constant rush takes a toll in several ways. It's most commonly seen as lack focus, which not only impacts productivity but also contributes to more accidents and errors. Lack of focus is flitting around from one issue/project to another without taking the time to adequately complete what you started and what's most important first.
Time pressure and sense of urgency also negatively impacts relationships. Witness: inability to be present, listen to and respond to others. And it doesn't matter why: whether doing multiple projects at a time, checking email or answering a call on your cell phone as you are talking to an employee, client or customer. What you are thinking is a drive to efficiency and productivity is really a prescription for getting less quality work done and annoying those around you. None of which is good for you or your business.
While periods of high pace, "hot" days or weeks, are perfectly normal and should be anticipated, pervasive exposure without mitigation can be very destructive to both the individual and their business. Entrepreneurs need to expect and plan for "time and pressure management" to effectively navigate these times in business. As well, they need to regularly and aggressively plan for, keep close in front of them (and articulate well to their team) the key priorities that drive results vs. getting lost in the day-to-day weeds and inherent distractions that inevitably arise. Lastly, this relates to your vision, values and guiding principles. Without them, it's like trying to find your way out of a forest without a compass.
Healthcare Corner – News and Issues
The Law of Unintended Consequences and Health Reform
We have been addressing issues arising out of the Patient Protection and Affordability Act (health reform legislation). In this issue we want to make you aware of a possible unintended consequence that may come out of the health reform legislation. And it's also a potential business opportunity for consultants who are in the benefits field.
Philip Bredesen, governor of Tennessee and author of "Fresh Medicine: How to Fix Reform and Build a Sustainable Health Care System" argued in a recent Wall Street Journal (10/21/10) Op-Ed piece that it may be less costly for small companies to drop health care insurance, pay the $2,000 fine per employee, and increase the employees compensation so they can buy their own health insurance through the "exchanges" that will be set up and in operation in 2014. In a "thought example" he used for Tennessee state employees, the potential savings was impressive. Will small businesses think about dropping health insurance, or new businesses forming not provide health insurance? Perhaps.
The article is worth reading. Health benefits consulting will become an important service offering, especially for small companies and entrepreneurs. While the large companies are also facing challenges due to health reform, this space is well covered by the larger benefits consulting firms. It's the smaller market that presents the opportunity for solo or small firm consultants.
Healthcare Trends – Self-Care
In the September Newsletter, we discussed the issue of Long Term Care Insurance. And while it is important to have both acute care and long-term care insurance, premium costs are lower for healthier people. In fact for Long Term Care, if the insurance company does not believe you are "healthy enough" coverage will be denied.
So self-care will become increasingly important for financial and insurance coverage reasons, but it is also very important for you, your family and your business. Stress is one of the greatest contributors to illness. It may start as an acute illness (i.e. heart attack) or it may slowly present as a chronic debilitating disease. Stress management is more than a fad and much more than a buzzword. It is something that should be part of your personal "health care coverage plan".
So put into your day, week, and month: healthy eating, a good night's sleep, exercise, and rejuvenation time. There is so much more you can do, but this will be a good start.
KLC News
Announcements
- Check out our updated website, including innovative instruction elements like our Biz $ense TV – media to grow the business mind, and our new Book Reviews! kubicalaforestconsulting.com
- We are presenters at the ERE Expo (Recruiting Intelligence) October 26 in Hollywood Beach, Florida. Join us at an incomparable conference for Recruiting, Talent Management and Process improvement! http://events.linkedin.com/ERE-Expo-2010-Fall/pub/364417
