Small and medium-sized enterprises (SMEs) make up approximately 90% of businesses worldwide, and play a pivotal role in economic development and employment. Given shifting geopolitical landscapes—from trade tensions to international aid cuts—these businesses must recognize and address the emotional and mental well-being of their stakeholders. This is particularly crucial at a time when geopolitical changes are already having an impact.
Recognizing the Mental Health Impact of Geopolitical Changes
As has been seen in recent weeks, geopolitical events can have far-reaching effects for businesses. These include job insecurity, disrupted supply chains, and financial instability. The Mental Health America organization, says that these types of tensions can trigger various emotional responses, such as grief, depression, and anxiety, even among those not directly involved, and create widespread uncertainty and stress and adverse effects on mental health. Understanding these impacts is the first step towards addressing them.
Fostering Open Communication and Supportive Work Environments
Most SMEs should be able to work with their employees and communities, to ensure that work is a safe haven at times like these. For example, they can create a workplace culture that encourages open dialogue about mental health and where employees feel safe airing their concerns. This can be achieved through such measures as:
Regular check-ins, anonymous feedback systems, and mental health awareness programs.
Investment in employee development as a way to improve morale and equip staff with skills to adapt to change. Training in areas such as crisis management, financial planning, and mental health first aid can empower employees to handle stress more effectively.
Assistance with the gaps left by reduced international aid through participation in
community development and support programs. This kind of involvement not only aids those in need but also fosters a sense of purpose and community among employees, positively impacting their well-being.
Collaborating with Mental Health Professionals and Organizations
For smaller businesses, given the possible scarcity of mental health professionals in rural areas or in some African regions, considering potential resource constraints, and depending on the needs of the community, additional innovative approaches can be tried. Le Monde recently reported on hair dressing salons in Togo, Cameroon and Côte d'Ivoire collaborating with an NGO to train salon staff to provide basic psychosocial support. Something like this can be effective for both the people involved and the business.
For medium-sized businesses, with slightly more resources, partnering with mental health professionals can make it possible to offer resources such as counseling services, workshops, and stress management programs. These collaborations, beyond what the management team and employees choose to do, can provide employees with additional tools to navigate the emotional challenges of geopolitical uncertainties.
Advocating for Policies Supporting SME Stability
While it might be tempting to withdraw in difficult times, whenever possible, these periods could instead be seen as a time to move important work forward. According to the OECD, this can include continuing any work that an SME might be doing to shape policies that address the root causes of stress related to geopolitical changes. By engaging with industry associations and policymakers, SMEs can advocate for measures that mitigate the negative impacts of trade tensions and aid cuts and bolster their resilience. These may be related to enhancing SME productivity and innovation, addressing barriers to finance, and finding alternate ways to improve access to and exploring new markets and indeed diversifying supply chains. Progress or success in these areas can help lower stress.
These types of strategies can help SMEs proactively address the emotional and mental well-being challenges arising from changing geopolitics, while also positioning SMEs to offer solutions to broader economic and social disruptions.
Dr. Memuna Williams has a BA and MA in Translation, an MBA, and DBA. Her doctoral thesis illuminates how SMEs develop social responsibility programs across four phases and 13 categories. Dr. Williams and her husband Victor have three sons. Connect with her at: www.linkedin.com/in/dr-memuna-williams-dba-8193b01
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