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macquarie.com.au
Mental wellbeing in uncertain times
A wellbeing mindset for leaders
At this moment, the coronavirus (COVID-19) outbreak is fundamentally changing the way we work and the way we live our lives. But amidst the effort to manage the impacts of COVID-19, we are also grappling with the mental health impacts of social isolation, heightened anxiety and fi nancial uncertainty. Business leaders have the additional challenge of managing teams remotely and steering organisations through a period like no other in recent history.
“As leaders we have to be able to lead with confi dence and
perspective while balancing the underlying anxieties and emotions
of our people. This is doubly hard when we may be experiencing
our own fears and uncertainties as we face a health and economic
event unprecedented in our times,” says Sean West, Head of Wealth
Management at Macquarie Banking and Financial Services Group,
“In time, COVID-19 will pass, and while not everything will go back
to normal, a new normal will emerge. Those organisations with
purpose, innovation and a focus on clients will prosper.”
There’s a growing appreciation for the need for business leaders
to develop a deeper understanding and appreciation of the mental
health issues that are likely to emerge, and develop the skills to
help their teams and families cope.
“It’s important to acknowledge this stage is like a grieving period,
with feelings of shock and denial,” says Mindstar founder Aaron
Williams, who works to improve and maintain emotional wellbeing
in workplaces. “We all know people who are losing something –
their job, their connection to the things and people they hold dear.
It feels out of our control.”
Dr Jill Newby, Associate Professor at UNSW, based at the Black
Dog Institute, says it’s natural for people to feel overwhelmed –
and almost half the exponential increase in traffi c to Black Dog’s
website is for COVID-related support.
During previous pandemics, it has been estimated 25% to 33%
of the community experienced high levels of worry and anxiety1
– and people with pre-existing anxiety and other mental health
disorders are most at risk. With one in fi ve Australians aged 16 to
85 suffering from a mental health disorder2 – and one in three in
the fi nancial services sector3 – there’s a good chance you know
someone who is feeling vulnerable during this time.
That’s why it’s more important than ever to support one another
– colleagues, clients, families, friends and neighbours. Prioritising
self-care is just as important.
Here are four ways to do this while adapting to a very different way
of living and working.
Accept the rhythm of work will change
Williams says the leaders he is coaching fi nd today’s lack of
control distressing because they’re used to pushing themselves.
In this environment, Dr Newby notes it’s important to take
the pressure off both yourself and your teams – especially
for those who face the additional stress of home schooling
or worrying about elderly parents. “It might not be realistic to
expect the same level of work – you need to adjust expectations
and be fl exible.” Some people may need to alter their hours to
balance their family needs, or work in shorter stints throughout
the day.
West and his wife are both now working from home and home-
schooling two teenagers. He says this requires a lot more
energy in his role as a leader (and as a parent), as he needs to
be as visible as possible and maximise the connection he has
with his team, family and broader community.
“The leadership unit – whether in business or in families –
needs to be stronger and more authentic than ever today,” he
observes. “But you can’t keep giving more without changing
something. For me, that means ensuring that I fi nd some time to
get out on my own to exercise every day. It gives me the mental
space to refl ect on things.”
Set up structure and rituals
Whether it’s a morning Zoom catch-up or virtual Friday
drinks, people are fi nding creative ways to replicate the social
stimulation of a typical working week.
West says his team has turned a quarterly in-person ‘what’s
on your mind’ session to a weekly virtual event for hundreds
of people. “People share different stories about how they’re
dealing with the situation, and it gives us a good perspective
on the current reality. It also gives our leaders a chance to
demonstrate their own vulnerability by talking about the
challenges they are facing - it’s a shared experience.” Daily
check in calls every afternoon with his immediate team also
provide a chance to refl ect on the day and check in on the
wellbeing of each team member.
Self-care routines are just as important. “Schedule in exercise,”
suggests Dr Newby. If you lack motivation to do it solo, team
up with a family member or try a virtual class with a friend. And
get enough sleep. “Sleep is a powerful antidote to anxiety, and it
also helps the immune system,” she adds.
If work and life are blurring together, enforce a start and end
time to your work day and create a ‘buffer’ – this could be as
simple as changing out of your work clothes at 6pm. Dr Newby
is working from the living room of her small apartment, so she
puts her computer away on Friday evening to visually create a
weekend break.
Stay connected in every way you can
Now’s the time to equip everyone in your team with the
technology and skills to work together when they’re remote.
Williams says it’s important to make sure no one is left behind.
“Team morale is so important right now, take time to appreciate
people,” he notes.
West says he is particularly conscious of people who live alone,
and those who may want more contact. “We make sure they
have multiple touchpoints. Everyone is dealing with this in a very
personal way, so the more we can personalise our interaction
the more impact we can have.”
Recognise and respond to the signs
Create a safe space for your team members to discuss
how they are feeling. “It’s OK, as a leader, to say you’re also
struggling with this, and you don’t have all the answers,”
says Williams.
When you’re physically apart, it can be more challenging to spot
the changes that signal someone is struggling. Look for any
shifts in their online behaviour or the way they communicate –
such as their tone or language.
If you are concerned someone in your team or family is
struggling, ask how they’re doing. This will never make things
worse. Listen carefully, and reassure them it is completely
normal to feels this way. “Validating their feelings can make a
huge difference,” advises Dr Newby.
According to the World Economic Forum, providing a sense of
time can also help – try phrases like ‘let’s think of ways for you
to get through these next few days.’
“You can also link them to specialist help – GPs can provide a
referral via telehealth, and psychologists and psychiatrists are
doing phone or video call therapy,” suggests Dr Newby. Black
Dog also provides self-directed online screening to guide people
through a range of digital mental health programs, as well as
resources for managing stress and anxiety.
Above all, it’s important to remember most people have built-
in resilience. We’ve faced stress and uncertainty before, and
developed coping skills to get through those times.
“At Macquarie, we’ve been working with Ben Crowe, mindset
coach and director of Mojo Crowe”, says West. “One of the
ideas he talks about is the power of acceptance. Once we
accept the situation we fi nd ourselves in, we can start to work
positively within it.”
“It’s not realistic to expect the same level of work –
you need to adjust expectations and be fl exible.
Associate Professor Dr Jill Newby, Black Dog Institute“It’s not realistic to expect the same level of work –
you need to adjust expectations and be fl exible.
Associate Professor Dr Jill Newby, Black Dog Institute
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macquarie.com.au
1 Mental Health Ramifi cations of COVID-19: The Australian context [https://blackdoginstitute.org.au/docs/default-source/default-document-library/20200319_covid19-evidence-andreccomendations. pdf] : Black Dog Institute (reference Bults, M., et al., Perceptions and behavioral responses of the general public during the 2009 infl uenza A (H1N1) pandemic: a systematic review. Disaster Med Public Health Prep, 2015. 9(2): p. 207-19.)
2 Facts & fi gures about mental health [https://www.blackdoginstitute.org.au/docs/default-source/factsheets/facts_fi gures.pdf?sfvrsn=8] , Black Dog Institute 2 (ABS data)
3 Creating a mentally healthy workplace: return on investment analysis [https://www.voced.edu.au/content/ngv%3A62708] , PWC
4 Experts explain how to manage mental wellbeing during COVID-19 [https://www.weforum.org/agenda/2020/04/covid-19-mental-health/] , World Economic Forum, April 1 2020
Except for Macquarie Bank Limited ABN 46 008 583 542 AFSL and Australian Credit Licence 237502 (MBL), any Macquarie entity referred to on this page is not an authorised deposit taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.
© Macquarie Group Limited
“It’s OK, as a leader, to say you’re also struggling
with this, and you don’t have all the answers.
Aaron Williams, Mindstar
Perspective and performance in
uncertain times
“Even though everything feels so unusual right now, it will get
better,” says Dr Newby. The way we respond to the situation
today will equip us emotionally to work through the recovery
phase that will inevitably follow.
Additional information
Learn more about Mindstar’s Work Well and Lead Well webinars
at https://www.mindstar.com.au/leadwellworkwell/
Download resources to help you and your team manage
stress and anxiety during the COVID-19 crisis at https://
www.blackdoginstitute.org.au/coronavirus-anxiety-resources