Uncertainty and Stress – Part 2 of 4

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Reduce Stress

Why does uncertainty cause stress? Uncertainty causes stress because of the fact that it is the unknown. The only certainty is that life is uncertain! That’s probably a phrase that you have heard more than once, specially recently. We all know it, but do we truly believe it? Do we strive to control the uncontrollable and how can we feel in control in uncertain times?

The key to making changes is to first recognise that we are feeling stressed. Keeping a journal can really help. By writing down the information surrounding a stressful event we get clarity and understanding around what made it stressful for us.

Keep a journal and note:

  • Triggers – what happened
  • Behaviours – how did you react both physically and mentally
  • Circumstances – surrounding the event
  • Note physical signs of stress

If writing is not something you enjoy a text or recorded note on your smart phone will work equally well.

Short Term Strategies

The best thing you can the minute you are aware that you feel stressed is to take some good deep breaths deep into your belly. Remembers Primatives Amn’s Response to Stress for Part 1? Takeing a deep breath sends messages to the brain that there is nothing to worry about. It tells your body to start resetting, which can take up to an hour. When you are stuck in fight or flight mode you physically cannot take a deep breath because everything is tense, so the body knows that, the fact you can take a deep breath, everything is resolvable.

For some ideas on breathing and other exercises please do take a look at this video.

Longer Term Strategies

It is useful to challenge your thoughts and remind yourself of other times when things have worked out ok or when the things you have been worried about have not come to pass.

Think of the situation that you are finding stressful:

  • What signs might you be aware of?
    • Interrupted sleep patterns
    • Feeling on edge
    • Feeling inexplicably angry or tearful for example
  • What changes could you make?
    • Physical changes like breathing deeply
    • Mindset changes – we will cover more about those in part 3
  • What would be the consequences of the changes?
    • How might the changes help you feel more resourceful?

It is useful to refer to your journal notes when thinking this through and write down your answers to the above questions. I am sure you know the saying “Do what you have always done and you will get what you have always got!” So do something differently, make a change and you will change the outcome.

In other words change your behaviour!

This blog has been all about reducing stress. See my other blogs about uncertainty.

Uncertainty and Stress – Part 1

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Why is Uncertainty Stressful?

Why is uncertainty stressful? Uncertainty is stressful because of the fact that it is the unknown. The only certainty is that life is uncertain! That’s probably a phrase that you have heard more than once, specially recently. We all know it, but do we truly believe it? Do we strive to control the uncontrollable and how can we feel in control in uncertain times?

Firstly a Note on Stress

Definition of stress

Stress is the adverse reaction people have to excessive pressure or other types of demands placed on them.  It arises when they perceive that they are unable to cope with those demands.  It is not a disease, but if stress is intense and goes on for some time, it can lead to mental or physical ill health, EG; depression, nervous breakdown, heart disease or other physical ailments.*

What is Pressure?

Pressure is often used interchangeably with stress but actually the two words have quite different meanings.  Pressure is in fact a positive aspect of life and work for most people. Many of us need to have standards, targets and deadlines to push us towards good performance. Pressure is what most people feel as the need to perform – and everyone has an optimum level of pressure that brings about their best performance. It can be seen as pressure when you feel that it is achievable. You might have to work hard, take some risks, challenge yourself, change or accept new things – but it is manageable. You feel a level of control over the situation.

Of course what feels like pressure for one person can feel like stress to another.  Too much and you can burn out, not enough and you can rust out!

In other words, pressure is good, stress is bad!

Our brains give us fits when facing uncertainty because they’re wired to react to it with fear because it is unknown and uncontrollable. When this happens our bodies go into the stress response. We need engage the rational brain to reduce stress and convince ourselves that uncertainty is normal and manageable. Our stress response is hard wired into our bodies.

Primitive Man’s Response to Stress

Why uncertainty is stressful

  • The front of the brain receives stimulus from eyes, ears etc.- aware of danger.
  • The hypothalamus of the brain activates.
  • The pituitary gland releases hormones.
  • The involuntary nervous system sends signals via nerves to various parts of the body.
  • This causes the adrenal glands to release hormones; adrenalin, nor-adrenalin and cortisones.

These lead to the other changes:

  • Mentally alert – senses activated.
  • Breathing rate speeds up –nostrils and air passages in lungs open wider to get air in more quickly.
  • Heartbeat speeds up and blood pressure rises.
  • Liver releases sugar, cholesterol and fatty acids into the blood to supply quick energy to the muscles.
  • Sweating it increases to help cool if the body.
  • Blood clotting ability increases, preparing for possible injury.
  • Muscles of bladder and bowel openings contract and non-lifesaving activity of body systems ceases temporarily.
  • Blood is diverted to the muscles and muscle fibres tense ready for action.
  • Immunity responses decrease. This is useful in short term to allow a massive response by body. It is harmful over a long period.

The “fight or flight” response is easily recognized in a fear provoking situation. This is how the body goes into lifesaving mode.  Very appropriate for primitive man, but what about humans today, living in this always on culture and the uncertainty of the current pandemic?

This blog has been all about setting the scene and understanding why uncertainty is so stressful. See my other blogs about uncertainty.

Supporting Employees Through Uncertainty

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With the current Covid-19 Pandemic, life is more uncertain than ever before, especially for employees. So what can you, the employer do, to support employees during this uncertain time? It’s all about embracing uncertainty.

I was listening to the BBC news the other week. I was particularly drawn to a story about a bakery that had managed to reopen, even with the 2 metre distancing rules.  They had one major challenge. One area of production required two people to be working in close proximity at all times.  Management couldn’t come up with a solution to this problem.

Overcoming Challenges

What did they do?  They asked their employees to get creative and think of ways round the problem, so that they could reopen.

The solution: A husband and wife worked for the company in different areas of the business. They lived together so the social distancing did not apply. They were happy manage that particular part of the production on a temporary basis. Problem solved!

Engage with Employees

In these challenging times, many companies are facing a restructure or administration. As a leader, you may feel solutions have to come from the top. Perhaps telling employees just how uncertain the future of the company is, might make them anxious or stressed. You want to protect them. That is understandable.

In reality they are probably already worried about the future. Lack of communication usually leads to speculation and greater levels of anxiety and stress. Recognise that it is a difficult time and encourage employees to think about what “surviving-well” might look like.

Be honest and consistent with them. Tell them exactly what you do and don’t know. Tell them what the organisation is struggling with. Facilitate open forums for employee input.  Give them time to mull over the challenges and collectively come up with solutions.

There is no guarantee, but there is a chance that, like the bakery, their collective creativity will find a solution that might just solve the problem.

Focus on areas that they can influence. Remember to share what is positive as well as what is challenging. Make sure to recognise their hard work and resilience during “tough time”. Employees need positive reinforcement more than ever.  If they are working remotely, they don’t have the usual physical ques and casual conversations that tell them they are doing well.

Embrace new ways of doing things and be open to all ideas. Be as flexible as possible. Enable employees to juggle work, life and family commitments in a way that works for everyone.

Communication is Key

Communication is always recognised as being critical, but often underestimated and inadequate.  It is easy to get bogged down in the challenges and forget to tell employees what is going on.

  • Communicate with employees often.
  • Use a variety of media.
  • Present to the whole company, divisions and teams at different times and in different ways
  • Enable forums for Q&A.
  • Make sure solutions are captured, input is recognised and ideas are met with an open mind.
  • Send updates on items discussed.
  • Throw out old expectations and create new ones.

Risk Assessment

Carry out a risk assessment across all levels of the organisation and ensure that employees are engaged as part of the process. Plan for specific scenarios before they happen! Communicate early and often. This is a must do even for sole traders and micro businesses.  It allows the possibility of a Plan B, minimises the impact of risk and takes advantage of opportunities.

Lead by Example

How you react will influence how employees perceive the situation. Be the steady helm to lead through the troubled waters.

The language you use is particularly important.  Any attachment to certainty will increase stress and anxiety. Use of the words like “hoped for”, “expected outcomes”,  “right” and “wrong”, will stifle creativity.

Listen and pay close attention to your employees.  Use words like “might”,” possibility”,” I wonder” and “maybe”. You might wonder if a particular scenario is workable, and you might wonder if that is the right solution.  It might be right, it might be wrong.  That’s the thing about uncertainty – you can’t be sure.  Keep an open mind.

Create and share key learning moments. Change your mind if you need to.  Employees will understand if you communicate. This is all about your personal mindset. Let go of the need for certainty and embrace the new.

Employees are our greatest asset. They can help us find solutions for readiness, response and recovery. The instincts and actions that will see us through the current global crisis will also make us stronger as we face the longer term challenges.

I have a book coming out in 28th September in collaboration with Charlotte Valeur. It is called Effective Directors QTA. In my section on health and wellbeing I talk more about the importance of supporting employees, giving you key questions to ask to improve your wellbeing strategy. Click here for a copy.

Resilience Through Overcoming FOMO

What is Fomo?

FOMO is the fear of missing out. It’s the feeling you get when you see someone else doing something that you want to be doing. FOMO can be a powerful motivator. It can drive you to do things that you wouldn’t otherwise do. It can also lead to feelings of envy, jealousy, and insecurity.

FOMO is a real phenomenon. It’s been studied by psychologists and sociologists. And it’s been written about in the popular press. FOMO is a very real emotion that can have a significant impact on your life.

If you’re someone who suffers from FOMO, there are a few things you can do to combat it. First, try to be aware of it when it happens. Recognize that it’s just an emotion and that it doesn’t have to control you. Second, don’t compare yourself to others. Everyone’s life is different and you don’t know what someone else’s life is really like. Third, focus on your own happiness. Do things that make you happy and don’t worry about what other people are doing.

FOMO can be a difficult emotion to deal with, but it doesn’t have to control your life. If you’re aware of it and you take steps to combat it, you can live a happy and fulfilling life despite it.

What Causes Fomo?

There’s no denying that social media has changed the way we interact with each other and consume information. One of the most notable aspects of social media is the way it can create a sense of FOMO, or “fear of missing out.” When we see our friends and acquaintances constantly sharing photos and updates about their lives, it’s only natural to feel like we’re missing out on something if we’re not doing the same.

FOMO can be a powerful motivator, driving us to do things we wouldn’t otherwise do or to spend money we might not have. It can also lead to feelings of envy, jealousy, and insecurity. So while social media can be a great way to stay connected with friends and family, it’s important to be aware of the potential downsides as well.

How to Overcome FOMO

If you’re someone who struggles with FOMO, or the Fear of Missing Out, you’re not alone. FOMO is a very real phenomenon that can cause a lot of anxiety and stress. But there are ways to overcome it.

Here are some tips:

1. Be aware of your triggers. What are the things that tend to make you feel FOMO? Once you know your triggers, you can start to work on avoiding them or managing them better.

2. Practice mindfulness. Mindfulness can help you be more present and focus on the here and now. This can help you to stop worrying about what you’re missing out on and enjoy the moment you’re in.

3. Set boundaries. Don’t say yes to every invitation or opportunity that comes your way. Learn to say no, and set limits on how much you’re willing to do. This will help you to focus on the things that are truly important to you.

4. Be grateful. Shift your focus from what you don’t have to what you do have. Be thankful for the good things in your life and the experiences you’ve already had.

5. Live in the moment. One of the best ways to overcome FOMO is to focus on the here and now. Enjoy the moment you’re in and don’t worry about what you’re missing out on.

With these tips, you can start to overcome your fear of missing out and live a more peaceful, stress-free life.

What Are the Benefits of Building Resilience?

Resilience is the ability to recover from setbacks and to bounce back in the face of adversity. It is a key life skill that enables us to cope with challenges and setbacks. Resilient people are able to adapt and adjust to change. They are also able to persevere in the face of difficulties.

Resilience is not about being invincible or immune to challenges. It is about having the inner strength to overcome difficulties and the ability to learn from setbacks. Resilient people are able to draw on their inner resources to deal with difficult situations. They have a positive outlook and believe that they can overcome challenges.

Resilience is a learned behaviour. It is something that we can develop and strengthen over time. By increasing our resilience, we can build our inner strength and capacity to cope with whatever life throws at us.

There are a few things you can do to build resilience to FOMO. First, remember that not everything you see on social media is an accurate representation of reality. Second, focus on your own happiness, rather than what others are doing. And finally, don’t be afraid to take a break from social media if it’s causing you anxiety or stress.

Fear of missing out can be debilitating, but it is possible to overcome it. By taking action and focusing on what is important, you can build resilience and achieve your goals.

 

Becoming a Resilient Leader – Three Elements

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The Resilient Leader

It’s tough being a leader but being a resilient leader can help. The responsibilities are many, and the pressures can be overwhelming. That’s why resilient leaders are the ones that survive and thrive. Resilient leaders are able to work through the challenges they face. They are able to adapt to their environment and refocus their energies on the tasks at hand. This blog will focus on three qualities that resilient leaders must have, and how you can instill these qualities in your own leadership style.

The resilient leader is able to handle difficult situations and maintain a positive attitude. They can also inspire and motivate their team to a higher degree than their counterparts. Resilience is essential in a leader, as it allows them to overcome difficult experiences. This can be seen in the way they respond to challenges, remain calm under pressure, and stay focused on the task at hand. Being better at building trust with their team they are seen as honest and trustworthy. Being able to show empathy for their team members and understand their needs is also key. This makes it easier for them to provide support when needed and build relationships with their team members.

What are the keys to becoming a resilient leader?

There are many qualities that are essential for effective leadership, but one of the most important is resilience. Resilient leaders are able to weather the storms of adversity and emerge stronger and more successful than ever before. They possess an inner strength and fortitude that allows them to keep going even when things are tough.

There are several key traits that resilient leaders share:

  • They are positive and optimistic, even in the face of adversity.
  • Have a strong belief in their own ability to overcome challenges and achieve their goals.
  • Are tenacious and persistent, never giving up even when the odds seem insurmountable.

Becoming a resilient leader requires more than just possessing these qualities, it also requires a willingness to face challenges head-on and a commitment to never giving up. It means having the courage to take risks and the determination to learn from your mistakes. If you can develop these qualities, you will be well on your way to becoming a resilient leader.

The 3 Elements

Resilience is your ability to maintain a positive mindset in the face of difficulty or adversity. To be a resilient leader, you need to have three key elements: accountability, adaptability, and emotional intelligence.  Adaptability means being able to change your methods or approach when needed in order to succeed. And accountability means having someone you can trust who will hold you accountable for your actions and results. Emotional Intelligence means being aware of your impact o others and modifying as necessary.

Each of these three elements is necessary for a successful leadership career. By developing resilience, adaptability, and accountability within yourself as a leader, you will be better equipped to face any challenge head-on and come out on top.

Firstly experience is key. A resilient leader has probably been through some tough times and knows how to recuperate from them. They have a deep understanding of themselves and their team, which allows them to better anticipate and respond to challenges.

Secondly adaptability: Having strong emotional control and not allowing negative events or emotions to get the best of them. This allows them to stay focused on their goals and keep the team moving forward.

Lastly, self-Awareness: Being aware of your own strengths and weaknesses is essential for learning and development. All excellent leaders are continuously learning and developing themselves and their teams. They know when they need help from their team and are open about how they’re feeling. This allows everyone on the team to feel connected and supported, which is key for success in any organization

How to apply resilience in your everyday life

Resilience every day is just as important as being a resilient leader. In order to apply resilience in your everyday life, you must first understand what resilience is and how it can help you. Resilience is the ability to bounce back from difficult situations and setbacks. It is a key life skill that can help you cope with challenges and adversity.

There are many ways to build resilience. Some important things you can do include: developing a positive outlook, building a support network, maintaining a healthy lifestyle, and learning how to manage stress. Building “Real Resilience” takes time and effort, but it is worth it. It is a lifestyle, a striving to be the best versions of ourselves. When you are resilient, you are better able to cope with life’s challenges and setbacks. You can also find strength and hope in the midst of difficult times.

It is important to remember that resilience is not about avoiding difficulties, it is about how you deal with them. By building resilience, you will be better equipped to cope with whatever life throws your way.

How to build a resilient leader mindset

There is no one-size-fits-all answer to this question, as the best way to build a resilient mindset will vary depending on the individual. However, there are some general principles that can be followed in order to develop greater resilience. Having a positive outlook on life, practicing gratitude and positive affirmations are all incredibly powerful practices. I have been using them for years.

  • Firstly, it is important to develop a positive outlook and believe in yourself. Have faith in your ability to overcome challenges and bounce back from setbacks.
  • Secondly, it is helpful to develop a support network of family and friends who you can rely on for help and encouragement.
  • Thirdly, it is important to take care of yourself physically and mentally, as this will help to boost your overall resilience.
  • Finally, it is helpful to learn from your mistakes and view challenges as opportunities for growth.

By following these principles, you can develop the resilient mindset needed to overcome challenges and achieve your goals.

Resilient leaders know who they are and what they stand for. Start by identifying your core values. What is important to you? What do you stand for? Once you know your values, you can start setting goals that align with them. It’s important to have short-term, medium-term, and long-term goals to keep you motivated and on track. As you work towards your goals, you will inevitably face setbacks. This is where a resilient mindset comes in handy. A resilient mindset helps you to see setbacks as opportunities to learn and grow. It also allows you to stay focused on your goals, even when things are tough. So, if you want to build a resilient mindset, start by identifying your core values and setting goals that align with them. Then, when you face setbacks, view them as opportunities to learn and grow.

Remember it is not about fearing failure, it is about embracing failure and learning to do things differently, as a result.

Conclusion

There are many benefits to being a resilient leader, including the ability to withstand difficult challenges and maintain focus amid chaos. Leaders who are resilient are able to effectively manage stress, stay calm under pressure, and remain composed in chaotic situations. This can lead to improved decision-making, better communication, and stronger team dynamics. Additionally, being resilient can instill a greater sense of confidence in those around you and foster a greater sense of trust. Being a resilient leader can have many benefits for your business.

“True resilience is an absence of the ego, it’s the pleasure of being connected to the wisdom of the universe.” The above quote describes exactly what leadership resilience is, and why it’s so important. Resilience is the ability to bounce back from negative situations, and it’s a trait that is beginning to become more and more important in the world of business.

In order to be a leader, you have to learn how to deal with adversity. Whether it’s a bad economy, employee issues, or a company that’s losing money, a leader is going to have to deal with these situations. So if you want to be a good leader, you need to know how to bounce back from these problems. We hope this post helped you see how you can become a better leader by learning how to deal with adversity. Thanks for reading our post on leadership resilience.

Emotional Resilience

Emotional Resilience and Stress – What is the Difference?

Emotional resilience is the ability to cope with stress and setbacks. It’s about bouncing back from difficult experiences and maintaining a positive outlook. Stress, on the other hand, is a response to a challenging situation. It’s the body’s way of preparing for fight or flight. While some stress can be beneficial, too much can lead to anxiety, depression, and other health problems.

What are the characteristics of resilient people?

Resilient people are those who are able to adapt to and recover from difficult life experiences. They possess a number of qualities, including a positive outlook, a sense of humor, flexibility, and a willingness to learn from their mistakes. Basically, resilient people are also able to draw on their support systems – family, friends, and community – when times are tough.

Take small steps to increase your emotional resilience.

When it comes to increasing your emotional resilience, it is important to take small steps. This is because big changes can be overwhelming and can lead to more stress. Instead, focus on making small changes in your daily routine that will add up to big changes over time. For example, start each day by taking a few moments to yourself to practice deep breathing or meditation. This can help to center yourself and lower your stress levels. Make sure to also schedule time for activities that make you happy, such as spending time with friends or pursuing a hobby. By taking small steps to increase your emotional resilience, you will be better equipped to handle stress and setbacks.

The importance of developing emotional resilience.

It is important to develop emotional resilience in order to cope with the challenges and stresses of life. When we are emotionally resilient, we are able to quickly recover from setbacks and adversity. We are able to cope with difficult emotions and situations. We are also able to find meaning and purpose in our lives, even in the midst of difficulties.

Developing emotional resilience is not easy. It takes time, effort, and practice. However, it is worth it! When we are emotionally resilient, we are better able to deal with the challenges and stresses of life. We are also able to live happier and more fulfilling lives.

Emotional Resilience Factors: Emotional Agility

There are several emotional resilience factors that are important for individuals to develop in order to effectively cope with stress and adversity: emotional awareness, awareness of others and emotional flexibility

Self-Awareness – How well do I know myself?

Key characteristics of Self-Awareness:

  • Being mindful and curious about your thoughts and emotions
  • Noticing your self-talk – listening to what you’re saying to yourself
  • Validating your thoughts against reality
  • Challenging unhelpful and inaccurate thoughts
  • Affirming helpful and empowering thoughts
  • Being aware of the relationship between your thoughts, emotions and behaviours
  • Having an accurate and realistic view of your strengths and possible weaknesses
  • Being open to feedback and showing a willingness to change

Awareness of Others – How well do I read others and facilitate better relationships?

Key characteristics of Awareness of Others:

  • Ability to ‘speed read’ others
  • Understanding others perspectives
  • Showing consideration for others
  • Controlling emotions to avoid damaging relationships
  • Recognising the impact of own behaviour on others
  • Ability to manage conflict

Emotional Flexibility – How well do I assess the context I’m in and effectively adapt my responses?

Key Characteristics of Emotional Flexibility:

  • Reading situations quickly
  • ‘Tuning up’ and ‘tuning down’ behaviours effectively and authentically
  • Adapting (emotional responses in) to demanding situations and challenges
  • Knowing how to manage emotions and behaviours to get the most out of situations

One of the best ways of learning about emotional awareness and emotional self-regulation is to use ground-breaking psychometrics which reveals your dynamic personality and helps increase emotional intelligence. Emotional Intelligence is the capacity to be aware of, control, and express one’s emotions, and to handle interpersonal relationships judiciously and empathetically. Emotional intelligence is the key to both personal and professional success. You will see many elements of this is the description of emotional agility above. We provide coaching on increasing your potential using emotional intelligence. To find out more take a look here.

How to be Resilient in Difficult Situations?

In today’s world, it’s more important than ever to know how to be resilient in difficult situations. Certainly, with so much uncertainty in the world, it’s essential to have the ability to bounce back from setbacks and challenges. Here are some tips for how to be resilient in difficult situations:

  • Firstly, believe in yourself. One of the most important aspects of resilience is self-belief. However, when you believe in yourself, you are more likely to persevere through difficult times.
  • Secondly, stay positive. It’s important to maintain a positive outlook, even when things are tough. This positive attitude will help you maintain hope and motivation. Be proactive. Don’t wait for things to happen, make them happen. Take control of your life and your situation. This will help you feel empowered and more capable of dealing with difficult times.
  • Thirdly, be resilient. This one might seem obvious, however, it’s important to remember that you are resilient. You have the ability to overcome challenges and come out stronger on the other side.

By following these tips, you can develop the resilience you need to thrive in difficult situations.

With everything that happens in life, it’s important to be armed with the tools you need to feel balanced. We hope that this blog post was able to offer you some insights into emotional resilience. We’re always happy to hear from you, so if you have any questions or comments, please feel free to reach out to us anytime. Thanks for reading – we look forward to hearing from you!

If you would like to find out more about building resilience through coaching please visit our personal resilience page by clicking here.

Financial Resilience

The Cornerstone of Financial Resilience

The word “resilience,” which is now rather fashionable, was not always fundamental when talking about finances and the financial systems. It appears to have been first introduced in September 2002 after the events 1st September 2001. The Office of the Comptroller of the Currency, and the Securities and Exchange Commission published a reporting advising action on operations to make them more resilient. In other words, introduce things like off-site trading rooms that could be used in an emergency. When we talk about financial resilience we are largely talking about managing risk and planning for a rainy day.

The World Economic Forum defines financial resilience as “the ability to withstand and recover from financial shocks”. Financial planning is the cornerstone of financial resilience, whether you are thinking about personal or business finances.

Finances: One of the Most Common Sources of Stress

The antithesis of financial resilience is financial stress. Finances are one of the most common sources of stress in our lives. In fact, it is ranked as the number one cause of stress in the United States. As a result, many people find themselves struggling to make ends meet, and often turn to debt as a way to cope with this struggle. Like any source of overwhelming stress, financial problems can take a huge toll on your mental and physical health, relationships, and overall quality of life.

Debt is not sustainable for many people and can lead to serious consequences such as bankruptcy or foreclosure on your home. Fortunately, there are ways to get out of debt. If you find yourself struggling with debt, you should consult a professional immediately for help on how to get back on track financially and reduce your stress levels.

Financial struggles, as a business owner, are equally worrying. How will you afford to pay your creditors and your employees? How can you keep afloat until the next invoice is paid? Late payment of invoices is a terrible burden on any business, but particularly onerous for smaller businesses who do not have the cash flow to fall back on.

The stress of financial issues leaves you feeling stressed and anxious. You may find it harder to concentrate or lack the energy to tackle a mounting pile of bills. Or you may lose income by taking time off work due to anxiety or depression. You become trapped in a downward spiral of increasing money problems and declining mental health.

Building Financial Resilience

Whatever your circumstances, there are ways to get through these tough economic times, ease stress and anxiety, and regain control of your finances.

Financial resilience is the ability to withstand and recover from economic shocks, such as sudden unemployment or a reduction in income. Financial resilience is a measure of the capacity of individuals, households, communities, businesses, and countries to withstand economic shocks by maintaining their standard of living and meeting their financial obligations.

The most important part of financial resilience is that it is not just about money. It includes people’s skills and abilities, social connections and networks as well as their confidence in themselves and their future prospects. It also includes having access to essential goods and services that are critical for day-to-day living – health care, education, decent housing, clean water, and sanitation.

Managing Debt 

Professional advice is the best place to start. If you are UK-based then talk to your bank, your citizen’s advice bureau, or an independent financial advisor or use your access to your Employee Assistance Programme if your employer has one. Wherever you live, there are a number of organisations that offer help with dealing with financial problems. These are the sorts of things they can help with:

  • Managing debt
  • Creating and sticking to a budget
  • Finding work
  • Communicating with creditors
  • Claiming benefits
  • Other financial assistance

The most important thing is that you talk to someone! It can be very difficult to go it alone when coping with financial stress. It is also one of those problems, the longer you leave it the more serious it is likely to become. Start by talking to family and friends so they can support you. The first step to financial resilience is overcoming any financial issues.

Not being a qualified financial advisor I am not intending to go any further with advice on how to get your finances back on track. Each case is so very unique, that the best course of action is to seek professional, personal advice.

Creating an Emergency Fund

Achieving financial resilience is a long-term process that requires making changes in your lifestyle and habits. It’s not something you can do overnight or by reading a book. Financial resilience is about whole life planning, not just the now.

The first step to creating an emergency fund is to assess your needs. How much money do you need to cover unexpected expenses? Once you have a number in mind, start setting aside money each month to reach your goal. You can set up a dedicated savings account for your emergency fund. The important thing is to make sure the money is easily accessible in case you need it.

If you have a steady income, setting aside 10% of each paycheck is a good way to build up your emergency fund quickly. You can also look for ways to cut expenses so you can have more money to put towards your fund. Once you have built up your emergency fund, it’s important to keep it replenished so it’s there when you need it.

Extra Protection

It is important for individuals, and businesses to have some form of insurance in place. This may include, but is not limited to considerations of health insurance, property insurance,  income protection, and others. I am sure you can think of a few more. Basically building resilience into your financial risk management plans so you are covered in case of illness or loss of earnings.

Building Wealth

There are many ways to build wealth, but some are more effective than others. One of the best ways to build wealth is to invest in yourself. This means taking the time to learn about financial planning and investing, and then putting that knowledge into action.

Another great way to build wealth is to invest in assets that will appreciate over time, such as Stock ISAs. These types of investments can provide you with a steady stream of income, which can help you to build your wealth over time.

Finally, another effective way to build wealth is to live below your means. This means spending less than you earn and investing the difference. By doing this, you can save up a large sum of money over time, which can then be used to invest in assets or to fund your retirement.

There are many ways to build business wealth, but some of the most effective include investing in growth opportunities, diversifying your income streams, and carefully managing expenses. Investing in growth opportunities is a great way to build wealth over time. This could include investing in new products or services, expanding into new markets, or investing in new technologies.

Diversifying your income streams is another smart way to build wealth. This means having multiple sources of income so that if one stream dries up, you still have others to rely on.

Finally, carefully managing expenses is crucial to building wealth. This means monitoring your spending, setting a budget, and making sure you are not overspending on unnecessary items.

Making mistakes, learning from them

There’s no shame in making mistakes. We all do it, and it’s a natural part of learning and growing. The important thing is to not get discouraged and to learn from our mistakes so that we don’t make them again.

When we make a mistake, we can often feel like we’re the only one who has ever made that particular error. But the truth is, everyone makes mistakes. It’s part of being human. What matters is how we respond to our mistakes, and what we learn from them.

If we can keep a positive attitude, and view our mistakes as opportunities to learn and grow, then we’ll be on the right track. Making mistakes is inevitable, but it’s what we do afterward that counts.

Conclusion

Financial Resilience can help you enjoy your now as well as build for your personal and business future

What Is Real Resilience?

Real Resilience

Resilience is the ability to bounce back from adversity and meet challenges with an open mind and a positive attitude. It is something that we all have the potential to be, but it requires practice. It’s not just about being able to withstand pressure, but also about being able to take advantage of opportunities in life. There are many ways in which you can develop resilience, from physical activity and sleep to developing new skills or learning how to be more compassionate towards yourself.

The term “Resilience” has been used in many contexts and its meaning varies depending on the context. However, there are some common features that help define what resilience really is. These features include:

  • The ability to adapt well in the face of adversity
  • The process of adapting well in the face of trauma or tragedy
  • The capability to recover quickly from setbacks
  • A sense that one has control over their own destiny

Real Resilience is more than just a mindset, it is a way of life. It is the ability to adapt to an ever-changing environment. Real Resilience means you can own your impact, growth, and contribution. It does require taking accountability for your own destiny. With Real Resilience, when we talk about being able to withstand the pressure we do not mean that we buckle down when things get stressful and push through. We mean understanding what our stress triggers are, knowing how we react under excessive pressure, and having the tools and techniques to do something about it. Real Resilience is about striving to be the best version of yourself – every single day – because Real Resilience takes work.

Why is Real Resilience important?

There are a plethora of studies in recent years that confirm “resilient people are better able to manage their emotions and thoughts, which helps them cope with difficult times.” Resilience has been linked to better physical health, stronger relationships, higher self-esteem, and a more positive outlook on life.

Resilient businesses are able to increase productivity, reduce costs, and stay agile in times of uncertainty. During this time of ever-increasing uncertainty, marked by covid and its impact on businesses and individuals alike. The rising worldwide tensions. Then there are cyberthreats to contend with. On top of that, there are employment market issues, and more. Senior leaders are sharpening their focus on resilience. What makes some companies so much more resilient than others? How can we build resilience in our organisations? All these questions are more are what we will be answering.

It is not just personal resilience that we need to consider. Financial, Operational, Organisational, Business, Technological, Leadership and Reputational are all different aspects of resilience that we need to think about. You will be able to discover more about these different elements of resilience in the coming weeks.

There is so much talk about resilience these days. It is all over the news, it is being praised by politicians, and society is desperate to find out how to become more resilient. But is it just a buzzword? Is it just used to make us feel better about living in a world that is changing faster than we can cope with? How do you know if you are truly resilient? Will you know if you are only when you are faced with a real challenge? Real resilience is not a buzzword. It is not a list of traits or a change of mindset.

Signs of Real Resilience

An Individual Perspective

Some people are born with an innate sense of resilience, the ability to pick themselves up and carry on in the face of adversity. For others, it is a quality that must be learned and cultivated. Regardless of where you fall on the spectrum, resilience is a critical quality for success in life.

The ability to persevere in the face of setbacks, and to keep going even when things are tough, is what separates the successful from the unsuccessful. Those who are resilient are able to take whatever life throws at them in stride, and they come out the other side stronger and more capable than before.

Resilience is not a quality that is always easy to maintain, but it is one that is worth striving for. When you are feeling down and out, remember that you have the power to pick yourself up and carry on.

A Business Perspective

Do you feel like your business is resilient? Do you know what resilience actually is? What does it mean to be resilient? Are you one of those companies that is always on the edge or could your business survive a rough patch? When it comes to business, resilience is key. The ability to weather storms, adapt to change, and keep going in the face of adversity is what separates successful businesses from those that fail.

The key to business resilience is having a solid plan in place. This plan should include contingencies for unexpected events, a clear understanding of your customers and what they need, and a willingness to change and adapt as needed.

In today’s ever-changing business landscape, being resilient is more important than ever. The businesses that are able to adapt and change with the times are the ones that will succeed. So, if you want your business to thrive, make sure you have a solid plan in place and you’re ready to change and adapt as needed. Although change can be challenging and those around you can resist. If you would like some ideas then why not give us a call.

Developing Real Resilience

Real Resilience is not something that can be developed overnight. It requires a lot of hard work and dedication. However, it is possible to develop Real Resilience by taking small steps each day. For example, you can start by setting yourself small goals and working towards them. You can also try to be more positive in your thinking and stay away from negative thoughts and emotions. Additionally, it is important to stay physically and mentally healthy, as this will help you to cope with stress and difficult situations. Finally, you can also develop resilience by building strong relationships with others and having a support system to rely on.

Developing business resilience is essential for any organization that wants to thrive in today’s constantly changing landscape. By definition, resilience is the ability to recover quickly from difficulties. In the business world, this means being able to adapt to new market conditions, weather disruptions, and other unexpected challenges.

There are a number of ways to build resilience in your business. One is to diversify your revenue streams so that you’re not relying on just one or two sources of income. Another is to create a culture of flexibility and innovation so that your team is able to quickly pivot when necessary. You should also have systems and processes in place to help you quickly recover from any disruptions. A robust and supportive organisational culture is essential.

Developing business resilience takes time and effort, but it’s well worth it. By being prepared for whatever comes your way, you’ll be able to weather any storm and come out stronger on the other side.

What Next

We have only just scratched the surface of Real Resilience today. We have really only just put Real Resilience into context. Next week we are going to continue the discussion and take a look at financial resilience. Look out for our weekly posts to build on your resilience week by week. Some blogs will focus on the individual and some will focus on businesses. All of them will focus on helping you achieve success.

What About Workplace Diversity?

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Has the workplace become a melting pot? It’s all about diversity?

With recent headlines around the gender pay gap and women in the workforce dominating the news, it’s easy for companies to try a one-size fits all recruitment approach to fill gaps quickly. But, diversity is much more than hiring individuals from a specific demographic or ethnic background. Often the mistake businesses make is encouraging management to hire from specific groups in order to tick the ‘right’ boxes, which can lead unhappy staff as inclusion needs to be a part of the company culture not just the hiring process.

One of the biggest challenges facing companies today is how to create an environment that is open and values equal participation so people thrive rather than just be present each day. Create a culture where people can feel they are truly valued and respected.  Individuals are like an ionion, many layered. We have got to make sure companies create processes to understand, welcome, respect and value differences.

When reviewing diversity and inclusion processes, there is no quick fix or shortcut. People may feel threatened with change. Changes is processes and proceedures will be necessary.. But if a business is truly committed to it, then absolutely it can be done.

A few key pieces of advice for employers about how to incorporate and create a diverse workplace.

People like businesses are unique, so the hiring process should be too. Diversity is key!

Usually hiring is need driven; someone has resigned and as a result the role needs to be filled as soon as possible, which means the same job advert is used.

It is important to ask the following questions:

  • Do we really need that level of education?
  • Can we offer flexible working?
  • Do they have to be able to do certain key parts of the role?
  • What’s our interview process?
  • Is it the same panel each time – is there any representation?

Value proposition – the advertising message and its appeal

It is very much about creating a process that is more about equity than equality – not discounting any group or individual to make sure that we’re all actually at the same starting point. If a company is inclusive, they would want to attract everybody and not only look at getting women back into the workplace or increasing the number of Black, Asian minority, Ethnics (BAME) candidates into their company. The message should be that they want the best person for the role and recognising that they might have to male themselves attractive to individuals in order to want them to come and work for the company.

Onboard and retain staff

It is important that companies spend time to make their onboarding process inclusive. Employees want to know what it will be like going forward once they have joined the company.  They will want to know if there is a real culture of inclusion. Ensure there is follow on from appointment through to onboarding. This could lead to retaining employees, as a culture is created where everyone feels valued.

Valuing diversity

At times, companies struggle to get a number of diverse candidates to apply for their jobs.  This links back to the messaging – Companies need to remember that every potential future employee is researching them before they even apply. Potential staff can quickly tell if you are being authentic or if it’s just another token gesture. What message as a company are you putting out on social media?