Burnout: The Hidden Cost of the Skills Shortage main image

Burnout: The Hidden Cost of the Skills Shortage

If this Special Report makes one thing clear, it’s that the skills shortage isn’t just taking a toll on business operations and finances, it’s also impacting Members’ work-life balance, stress levels, relationships & mental health.

Members reported a range of effects, including:

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The overarching thread that ties all the responses together?

The skills shortage is contributing to more Members experiencing burnout. Looking after your mental health is every bit as important as looking after your balance sheet. If you’re feeling burnt out, don’t ignore it.

The good news is that burnout is very manageable-provided that you spot the signs early and take positive, meaningful action. On this page, we’ll look at:

How to spot the signs of burnout

According to Australian mental health charity Beyond Blue, people experience burnout in different ways, so your symptoms might be different from those experienced by your partner, your friend or the guy who runs the workshop around the corner.

Burnout could look like:

If this sounds familiar, it’s important to do something about it - especially if you’ve been experiencing these symptoms for an extended period of time.

Strategies for managing burnout

Recognising the warning signs of burnout is just the first step. It's important to take action, as the situation is unlikely to resolve itself without making changes.

01

Identify the sources of your burnout

When you’re feeling burnt out, the stress can feel overwhelming. Break it down, so you can tackle it more easily.

02

Get support if you need it

Don’t be too proud to seek support. It’s helpful to talk about what you’re going through, rather than bottling it up.

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03

Re-evaluate your priorities

There’s a famous quote from the American lawyer Arnold Zack: “No-one on his deathbed ever said: ‘I wish I’d spent more time on my business’.” Think about what really matters to you.

Write a list. Chances are it will involve things that aren’t work-related, like spending time with your kids or your partner.

We understand that these things are easier said than done, but if your current routine isn’t serving you, then it’s important to take stock and look at ways that you can make a positive change.

04

Step away from the business

When we’re under pressure in business, there’s a tendency to work longer hours and take less time off. Yet, being overworked will ultimately make us less productive and lead to burnout.

To work effectively and to be your best, you need to recharge your batteries.

05

Look at your lifestyle

If you’re feeling burnt out, chances are you’re not sleeping or eating well, or getting enough exercise. Yet good nutrition, getting enough sleep, and doing a bit of physical activity every day are all essentials for healthy living-not just for our physical health but our mental health as well. Chances are you don’t need to radically alter your lifestyle. Making a few positive lifestyle changes can really add up and contribute to a healthier and happier outlook.

Stronger with each other

Capricorn’s philosophy is that we’re stronger when we work together. It refers, of course, to the power of the cooperative.

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But it’s also relevant here, in the context of burnout. We can all play a role in supporting each other.

  • Check on your friends in the industry if you know they’re struggling.
  • Open the burnout conversation with others and help them access support if they need it.
  • Talk to your staff. If you’re burnt out, they may well be, too. Ensure they have access to support.

Resources

Australia
New Zealand