Stressed and confused: Xero research finds a ‘silent epidemic’ among small business leaders

Xero research has uncovered what it calls a ‘silent epidemic’ of stressed out employers.

Almost half (48%) of respondents in the Changing world of work report said managing employee processes and compliance is taxing on their mental health, while 56% said that managing employees in an ever-changing regulatory environment is stressful and confusing, and 37% percent worry staff will be paid incorrectly due to confusing payroll regulations.

The difficulties are of course exacerbated by COVID-19. The report noted that 27% percent of employers say managing business disruptions caused by COVID-19 continues to be their challenge, with a majority (68%) of employers facing staff shortages, late cancellations due to sickness or personal issues and staff confusion over rostered shifts.

“The challenge of managing employee processes has led to a ‘silent epidemic’ in worsening mental health of many small business owners,” said Xero chief growth officer Chris O’Neill.

It comes as employees reassess their values, needs and demands from their work.