The Small Business HR Podcast

Ep. 22

22. Managing Workplace Stress for Better Talent Retention, Acquisition, and Productivity w/ Steven Farber

In episode 22, we talk with Steven Farber about why stress—and employee turnover—are higher than ever, and what the connection is between the two.
Steven Farber

Steven Farber

Financial Wellbeing Benefits Carrier
LegalShield Business Solutions

Feeling a sense of belonging at work means being able to be your full, authentic self. It doesn’t mean compartmentalizing your personal problems at work, or pretending stress doesn’t exist within the four walls of the office.

Yet, when stress—personal and work-related—starts to get in the way of employees’ productivity and ability to focus, there are negative business implications—implications organizations need to be aware of, get ahead of, and address with empathy.

We sat down with Steven Farber, Financial Wellbeing Benefits Carrier at LegalShield Business Solutions, to hear about how companies can utilize low-cost or no-cost benefits solutions to reduce workplace stress and improve employee retention, acquisition, and productivity.

In this episode, we also talked about:

  • Why stress—and employee turnover—are higher than ever, and what the connection is between the two.
  • Whether stress is created in the workplace, or brought in from outside. (The answer might surprise you!)
  • Five powerful ways to get back to a stress-free, productive culture where employees want to work.

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Purpose is a funny thing. When we try to find that one perfect job, that one soulmate, it causes a lot of stress. It’s not about finding the perfect job. It’s about finding the job where you can be you.”

Steven Farber

There are two primary reasons why stress is at an all-time high in the workplace. First, forced change caused by the pandemic. And second, a loss of control. This could be a lost job, lost business, a business going under, a loved one passing away, as well as the financial and legal implications tied to all of these stressors. You can’t just cut your problems off when you go to work. Not everyone can just compartmentalize their stress.”

Steven Farber

When employees are stressed at work, focus breaks, productivity flops, safety issues arise, employees blame their employer for their issues—or they’re fired by their employers for their issues. It’s a lose-lose situation.”

Steven Farber

According to a 2021 study, about 69% of employers plan to customize their benefits programs. And that doesn’t necessarily mean adding costs—new benefits can add immediate value while also being cost-neutral.”

Steven Farber

Make sure your employees’ needs are being met. Maybe your employees want more training, or maybe they want more flexibility. Both of those are low-cost (or no-cost) benefits you can offer.”

Steven Farber

Value will always trump compensation. Benefits are more than money; they add value to people’s lives in an immeasurable way. And compensation can never outweigh those perks.”

Steven Farber

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