While more companies develop ways to incorporate mental health and wellness into employee programs, the self-employed are being left behind. According to a recent Mind Share study, researchers have identified a few key factors that have negatively impacted the mental health of the self-employed. Out of 2,000 self-employed individuals who responded to a survey:
Traditionally, individuals have taken the self-employment leap in an effort to gain flexibility, be independent, and maximize their earnings. But they can find themselves overwhelmed with the stress that comes along with being their own boss, controller, financial manager, and support staff. Ultimately, they may find themselves lacking the operational and mental health resources that a W-2 provides.
Despite these mental health challenges, 85% of self-employed individuals still believe that self-employment is the best choice for their overall well-being. So in an effort to alleviate some of the impacts, we’ve compiled a list of ways the self-employed can prioritize mental health while also building a successful business-of-one.
When working for someone else you have a clearly defined work schedule. But, as a self-employed professional, it is often hard to create balance and dictate your own office hours. According to a recent Gallup poll,
Taking time for yourself, and your family is an important step in maintaining your mental health.
It’s been scientifically proven that mental and physical health are connected. Exercising can help to maintain your physical health. And the better you feel physically, the more likely you are to feel well mentally. So, look to relieve stress by boosting endorphin levels, reducing tension, and improving your mood overall.
Do something you enjoy. Whether that is fishing, reading a good book, or taking mid-day walks, it is important to do things solely for the sake of enjoyment. This helps validate all of your hard work. It can also boost your mood, reduce stress, and help you stay motivated. Taking time away from your business and taking time for yourself can make you more focused and productive.
If you're extroverted, find time to connect with friends, family, peers, and other business owners. Develop a social support network. Talk. Laugh. Collaborate. Even vent your worries and frustrations. Isolation and loneliness are the leading causes of depression. And having a social support system helps people cope with stress. People with a strong social support group tend to have fewer overall health issues. And studies have shown that having a wide social network leads to increased self-esteem and a feeling of having more control over one’s life.
As a business owner, there may be a number of things causing you stress. Maybe your company books aren’t in order. Or maybe you are behind in filing your taxes. You might be worried about finances. Worried about having enough money to continue business operations, plan for retirement, and cover all your expenses. Don’t let finances be a burden. Our team can help you get your everything in order and maximize your business finances, so you never have to stress about them again. Schedule a call with a Formations expert today.