Top brokers work long hours and bring in results, but many are also running the fine line between crash-hot and crashed-out. A new study gives practical tips for keeping 'workaholic' brokers happy and healthy.
Top brokers work long hours and bring in results, but many are also running the fine line between brilliant and burnt out. A new study gives practical tips for keeping 'workaholic' brokers happy and healthy.
In a study of over 400 employees conducted by Wayne Hochwarter of Florida State’s College of Business, 60 per cent of workers were identified as workaholics.
Workaholics are characterised as people who feel guilty or stressed when not working and consistently prioritise work above leisure, hobbies and exercise.
(Are you a workaholic? Take the test here.)
Brokers with these characteristics are likely to put more effort into work, take less breaks, work longer hours and ultimately write more loans and push volumes up for their brokerage.
In short, they’re likely to be your star performers. So, what’s the problem?
While a high level of commitment to work is admirable, if taken too far workaholics are prone to frustration, tension and eventual burn-out.
“We found that there is an optimal level of workaholism for job effectiveness and positive health,” Hochwarter said. “However, when in excessively low or high ranges, both the company and the employee are likely to suffer.”
To combat this, said Hochwarter, managers need to be aware of the expectations that they put on the company's hardest workers.
Because of their efficiency and willingness, workaholics often become the “go-to” person in an organisation when there is extra work to be done, which can potentially lead to unsafe work habits.
“Having realistic expectations that take into account both the work and the person doing the work, is essential,” Hochwarter said. “The warning signs of burnout are recognizable and, if ignored, they will eventually lead to unwanted outcomes ranging from declining performance to death.”
A significant factor in keeping top employees working to their full potential, found the study, is ensuring they have a range of resources at their disposal, including personnel, rest, equipment and social support.
“We discovered that workaholics really struggle when they feel that they are alone or swimming upstream without a paddle,” Hochwarter said.
While finding the balance can be difficult, said Hochwarter, managers need to be prepared to deal with an issue that is likely to become more common in years to come.
