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Financial Wellness

The Financial Accountability Partner: Your Buddy For Better Financial Health

An accountability partner is a person who helps another person keep a commitment. You can have an accountability partner for the different areas of your life — someone who will hold you to your work deadlines, another person to remind you to do your exercises for the day, or even a loved one to remind you to set your boundaries or to unplug at the end of the work day. And if you are struggling in some areas of your financial life, having a financial accountability partner can be a big help. Specifically, they can:

  1. Help you set financial goals
  2. Brainstorm the steps you need to take in order to achieve those goals
  3. Make sure you stay on track

How to find the right financial accountability partner

“A financial accountability partner does not have to be a financial adviser or financial planner, it’s just a bonus if they are,” assures Enery Franklin Dy, a licensed financial adviser and founder of Financial Literacy PH, an online community that aims to spread financial literacy and where anyone can talk freely about savings, budgeting, insurance, and investments. “Friends, family members, or even team members can be good accountability partners if they are enthusiastic about money and investments and practice good money habits.” If your organization partners with MindNation, MindNation WellBeing Coaches are also available to help team members build better financial habits or have a better relationship with money.

Friends, family members, or even team members can be good accountability partners if they are enthusiastic about money and investments and practice good money habits

Enery Franklin Dy, Financial Adviser

That being sad, it’s also important that the person you choose to be your financial accountability partner posses the following traits:

  • Trustworthiness. “Money is a sensitive issue, and some matters like salaries should be kept confidential,” Enery reminds.
  • Honesty. “They should be able to give you constructive criticism and push you to achieve your goals,” he adds.
  • Diligent with record-keeping. This is important if you need help budgeting, although Enery admits this is not a deal-breaker since there are already many apps available to help you track your money’s movements. 

At the end of the day, what’s more important is you find someone who has the same financial goals as you, or who has faced similar financial struggles as you but emerged successful. 

  And if you absolutely cannot find anyone who fits the above bill, communities like Financial Literacy PH and other personal finance groups are available to anyone interested. 

How to work with an accountability partner
Enery says there are no set rules on how often or how long you should meet; it can be daily or weekly, as long as it is done regularly and there is ample time to go over progress and answer any questions that you may have. And even if you don’t have a goal due for completion, it’s still advisable to check-in on your partner so that you monitor your progress and build the habit. 

And speaking of building habits — remember that just like with eating healthy or setting boundaries, doing the work is your responsibility. At the end of the day, your success will depend on the efforts you exerted. The financial accountability partner’s job is to simply listen to your progress and provide helpful suggestions if they can. 


The MindNation CareNow Plan© includes teletherapy sessions with WellBeing Coaches (available 24/7) to help team members build better habits or advance in their careers. Email [email protected] to learn more about what WellBeing Coaches can do for your organization.

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Financial Wellness

Mariel Bitanga Of Simply Finance: 5 Rules For Better Financial Health

Contrary to popular belief, good financial well-being is not achieved by simply having a lot of money in the bank. For Mariel Bitanga of Simply Finance, a boutique financial planning firm committed to empowering Filipino women, having adequate savings is a good start but it’s also important to regard personal finance holistically. This means saving and spending your money properly, borrowing wisely, and setting clear financial goals. “Good financial health is all about balancing each of these pillars,” she advises. 

Mariel provides more specific tips below:

  1. Have a savings plan. Saving your money is good, but don’t fall into the trap of  becoming an over-saver, or someone who constantly puts away money — and just leaves them there. While over-saving is an admirable practice on the surface and is better than over-spending, it’s better to invest your savings in money market accounts or mutual funds so that the money grows in value over time. 

Another way to maximize your savings is to split them up into different accounts, each with its own purpose. “By opening multiple savings accounts, it becomes easier for you to identify financial goals and make sure you are on track to achieving them,” she says. 

  1. Stick to a budget. The basic rule of managing your expenses is to make sure you are not spending more than you earn. This does not mean, however, that  you should forego buying your ‘wants,’ be they make-up, fashion, toys, travel, etc. “Buying these are fine on occasion,” Mariel assures. “Just make sure you spend more on the things that are important to you and less on items that are not as important.”
  1. Borrow wisely. “It’s perfectly okay to have debt, but don’t take out a loan to buy frivolous things or because you are in competition with someone else’s standard of living,” Mariel advises. “If you must borrow money, do it to purchase things that will increase in value over time, like a house loan or to further your education.” 

“It’s perfectly okay to have debt, but don’t take out a loan to buy frivolous things or because you are in competition with someone else’s standard of living.”

Mariel Bitanga of Simply Finance

Furthermore, don’t forget to scrutinize the terms of the loan carefully before finalizing the deal. “Read the fine print, because some companies charge a higher interest rate after a certain number of years,” Mariel says. “Also check if the monthly repayments fit your budget or if they will bleed you dry. Lastly, make sure that the person or institution that you are borrowing from is licensed and legitimate so that you do not get scammed.” 

  1. Plan for the future. “Setting financial goals does not have to be intricate,” Mariel assures. “You can plan for as short as six months to as long as five years, although I recommend that you review your plan every year or even every quarter so that you can adjust accordingly.” For those who are wary of making plans because of the pandemic, Mariel counters that today’s uncertain times make financial planning even more important. “The more you don’t know what’s going to happen, the more you should have a roadmap that shows you where you see your money going, how you can optimize it, or even how you can attack debt, so that in case the situation worsens you at least have something to guide you.”
  2. Talk about personal finance with as many people as possible. Exchange personal best practices with peers and family members, not just with a financial adviser or financial planner. And rest assured that you do not have to be a financial expert to broach the topic with others. “The concepts about personal finance — such as saving and spending — are all very basic, simple, and what many of us already know to a certain extent,” Mariel shares. “Conversations about financial health need to be normalized. The less the topic is taboo, the more people can help each other to make smarter decisions about money.”

MindNation WellBeing Coaches can help you build better money management habits so that you can save, spend, borrow, and plan your money wisely. Message https://bit.ly/mn-chat  so you can book a teletherapy session now.

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How To

No Time Wasted: 5 Tips For Making The Most Out Of Your Therapy Sessions

Congratulations! You’ve finally found a therapist that you feel safe and comfortable with, and you’ve come out of your first teletherapy session feeling supported and empowered. Now comes the challenging part — staying the course on your journey to better mental health.

According to MindNation Operations Head Jen Alonte, it’s important to return for follow-up therapy sessions so that your psychologist or WellBeing Coach can check on your progress. “Most mental health concerns are caused by long periods of unresolved problems or issues that cannot be ‘cured’ in just one session, especially if the concern is something serious like depression or anxiety,” she says. “And even if you ‘feel better’ after just one session, it does not hurt to have follow-up sessions to solidify whatever therapy was introduced in case a trigger occurs.”

“Most mental health concerns are caused by long periods of unresolved problems or issues that cannot be ‘cured’ in just one session,”

Jen Alonte, MindNation Operations Head

That being said, continuously showing up for therapy is a fairly major commitment in terms of time, emotional space, and finances. This is why it’s important that you  put in the time, energy, and effort into every session so that you do not waste valuable resources — both yours and your therapist’s. Jen shares some tips for ensuring that no money, time, or energies are wasted:

  1. Eliminate distractions. Keep your cellphone on silent, and make sure you are doing your teletherapy session somewhere calm and quiet. “Make sure there are no other people around who will vie for your attention,” Jen says. Lastly, don’t schedule your session right before or after a meeting so that your mind is not filled with distracting thoughts.
  2. Come prepared. “A day before your session, think about what you want to discuss with the therapist and write them down so that you don’t miss anything,” Jen suggests. Also, don’t forget to check if your Internet connection is stable and that your device’s camera and microphone are working so that you do not run into technical problems in the middle of the session.
  3. Be seen. Even though MindNation teletherapy sessions are also available through voice chat or sms chat, the best set-up would still be one where the therapist sees your face. “This is because psychologists can learn a lot from facial expressions and other non-verbal cues,” Jen explains.
  4. Be open. No need to be afraid or shy; psychologists, psychiatrists, and WellBeing Coaches are trained professionals whose job is to listen without bias or judgement and offer the best kind of support. “Our psychologists mostly use Cognitive Behavioral Therapy as a form of treatment, so what you say will help them determine the right course of treatment for you,” Jen explains. “So if you hold back, the advice that they will give will also be limited.”
  5. Give feedback after the session. MindNation Care Coordinators send feedback forms to clients after they complete a session. “Be sure to fill in the form honestly. This is because by default, we will always assign you to the same therapist for follow-up sessions since they already know your background. But if you are not comfortable with the therapist for whatever reason, let us know right away so that we can assign you to someone else,” Jen assures. 

Getting the most out of therapy might be challenging at times, but if you are committed to taking care of your mental health and participate in therapy sessions properly, you can help yourself achieve better mind, better you.

MindNation psychologists and WellBeing Coaches are available 24/7 for teletherapy sessions via video call, voice call, or sms chat. Rest assured that all conversations will be kept secure and confidential. Book a session now through Facebook Messenger https://bit.ly/mn-chat or email [email protected]

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Financial Wellness

Money Talks: 5 Ways To Normalize The Conversation About Financial Matters With Your Employees

In a previous post, we discussed how financial stress can affect an employee’s mental health and productivity at work. As a leader, one of the ways you can help your team members maintain good financial footing and achieve better well-being is to normalize talking about financial health. 

But because financial problems are extremely personal matters, they must be addressed carefully. According to a report by Canadian multinational insurance company and financial services provider Manulife, feelings of shame and embarrassment make it difficult for people to reveal money issues.

To remove the stigma facing financial conversations, Mariel Bitanga of Simply Finance, a boutique financial planning firm committed to empowering Filipino women, shares some ways you can approach the topic with your team members without seeming too intrusive or judgmental.

  1. Make sure you are giving your employees the right wages and government benefits. “The first step to ensuring that your employees have good financial health is making sure they receive what is rightfully due to them,” Mariel reminds.
  2. Regularly hold company-wide activities that actively promote or raise awareness about financial well-being. “If you are holding mental health awareness activities, why not have a Financial Awareness Week or even a Financial Health Month?” Mariel asks. “If your Human Resources Department is not equipped to facilitate finance-related activities, you can opt to invite experts to come and give talks about personal finance or smart investments.” Sessions like these usually lead participants to comfortably discuss their learnings with their peers afterwards and break the stigma about financial health. MindNation conducts virtual trainings to help employees take charge of their personal finances and make smart money decisions. Sessions are facilitated by licensed financial planners and financial health advocates. To book this talk for your organization, email [email protected].
     
  3. Include the topic in performance reviews or regular one-on-ones. Just like how you should frequently check-in on your team member’s physical and mental health, it’s important to do a financial health check as well. “Push through the embarrassment and have a frank talk about wages and expected bonuses or salary increases. Knowing this information can even incentivize employees to perform better at work,” Mariel points out.

Just like how you should frequently check-in on your team member’s physical and mental health, it’s important to do a financial health check as well.

Mariel Bitanga of Simply Finance


4. Have an open-door policy. “Make your employees feel that they can come to you anytime if they need advice or discuss anything related to money struggles,” shares Mariel. “This way they feel safe instead of being scared to bring up concerns about their salary or benefits.”

5. And when concerns do arise, be honest and transparent. In case an employee asks for something more than you can give, i.e. a salary increase or a promotion, Mariel advises that you stick to the facts and not let emotions get in the way. Instead of saying something like ‘We’re all affected by this pandemic, don’t ask for a raise,’ present to them the company rules or policies involving raises and promotions. “Has the employee done something to merit a salary increase?” Mariel says. “Make it transparent so that expectations are clear and you do not give false hope.”  

Now, if the said employee comes back to you with a list of all their achievements but the company is really in a tight financial spot, be honest. “Apologize, explain the situation, and graciously tell the employee that you will not take it against them if they decide to look for opportunities elsewhere,” Mariel suggests. This way, there are no hard feelings on both sides.

By normalizing the conversation about financial health, you encourage your employees to talk more openly about their financial needs, share ideas and best practices, and make them more compelled to work on their financial wellbeing. Download our free Achieving Financial Wellbeing toolkit https://bit.ly/MN_financialtoolkit to learn how else you can help your employees increase their financial health, meet their short-term and long-term financial goals, and balance today’s challenges with tomorrow’s needs.

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Financial Wellness

10 Ways Financial Stress Impacts Employee Productivity

In a survey of more than 6,000 full-time employees in the Philippines, financial pressure was ranked as the second source of stress during the COVID-19 pandemic (the first one being fears of the COVID-19 virus).
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Organizations that fail to address financial stress are more likely to encounter poor work performance. This is because a team member who is overwhelmed by money worries will most likely experience a decline in physical and mental health and productivity, specifically:

  1. Physical ailments such as headaches, gastrointestinal problems, diabetes, high blood pressure, and heart disease. In countries without free healthcare, money worries may also cause a person to delay or skip seeing a doctor for fear of incurring additional expenses.
  2. Insomnia or sleep difficulties due to worrying about unpaid bills or loss of income.
  3. Weight gain or loss. A person may resort to overeating to cope with financial stress, or may even skip meals to save money.
  4. Depression. People who struggle with debt are three times more likely to feel down and hopeless, and struggle to concentrate or make decisions.
  5. Anxiety. Uncertainties about one’s financial situation may leave the person feeling vulnerable and distressed. Also, constantly worrying about unpaid bills or loss of income can trigger anxiety symptoms such as a pounding heartbeat, sweating, shaking, and even panic attacks.
  6. Relationship difficulties.  Money is often cited as the one of most common issues couples argue about. Left unchecked, financial stress can make one angry and irritable, cause a loss of interest in sex, and destroy the relationship if differences cannot be worked out in a constructive way.
  7. Social withdrawal. Financial stress can cause an individual to withdraw from friends, curtail their social life, and retreat into their shell — which will only aggravate stress.
  8. Unhealthy coping methods. Money stress can lead to drinking too much, abusing prescription drugs, taking illegal drugs, gambling, overeating, or suicidal ideations and self-harm. 
  9. Increase in absenteeism. Absenteeism is defined as the practice of regularly staying away from work without good reason. According to the 2020 Financial Stress Survey conducted by John Hancock, a U.S-based insurance company, the average number of work days missed due to financial stress more than doubled from 2019 to 2020. 
  10. Reduced productivity. This is because even if employees are not missing work, they are bringing the worry to work, which has an impact on productivity and related cost to employers. Nearly 6 in 10 workers say they worry about personal finances at least once a week at work, and in terms of lost productivity, the John Hancock survey said that the amount of time spent brooding over personal finances at work equates to over 47 hours per year (equivalent to six working days) .

“The average number of work days missed due to financial stress more than doubled from 2019 to 2020.” 

John Hancock 2020 Financial Stress Survey



Additionally, there is a cyclical link between financial stress and mental health problems:

  • The decline in mental health makes it even harder to manage money because the person may find it harder to concentrate or lack the energy at work to tackle a mounting pile of bills. Or they may lose income by taking time off work due to anxiety or depression.
  • These difficulties managing money lead to more financial problems and worsening mental health problems.

When employees receive help and support for their financial stress, they become more focused at work and experience improved overall well-being. Download our free Achieving Financial Wellbeing toolkit https://bit.ly/MN_financialtoolkit to learn how you can help your employees increase their financial health, meet their short-term and long-term financial goals, and balance today’s challenges with tomorrow’s needs. 

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Employee Wellness

No Health Without Mental Health: 5 Key Takeaways From The IBPAP CEO Forum

Every month, members of the IT & Business Process Association of the Philippines (IBPAP) take turns hosting a CEO Forum to tackle issues relevant to the sector.

For this October — which also happens to be World Mental Health Month — Transcom Worldwide Philippines took centerstage and invited their mental health and well-being partner MindNation to join them in a discussion about “Brains and Body: Mental Health and Overall Wellness in Challenging Times.”

“The COVID-19 pandemic has shown that companies need to accelerate the conversation about mental health in the workplace,” says Mark Lyndsell, Transcom CEO for the Global English Region, in his opening remarks. “Many employees are struggling with feelings of isolation, despair, loneliness, and loss or lack of control.” 

MindNation co-founder and Chief Executive Officer Kana Takahashi agrees. “Mental health concerns are becoming more alarming because of the pandemic and it’s something that companies should really look into.”

Here are other key insights that were shared by Mark and Kana at the CEO Forum: 

  1. Mental health concerns in the workplace have financial repercussions. “Research by the World Health Organization and MindNation showed that 40% of employees are struggling with mental health issues during the pandemic,” reports Kana. “These mental health struggles have led to an increase in absenteeism, presenteeism, and staff turnover. All these productivity losses can cost companies as much as USD 400 billion dollars a year in revenue.”
  1. For change to happen, well-being needs to be holistically addressed. While some companies or mental health support groups offer teletherapy sessions or virtual training as a form of mental health support, Kana says that just relying on these will not yield meaningful results for the organization. “If you want the best for your company and employees, you need to offer more,” she points out. “Focus on your employees’ journey, on the company’s culture, and on the person’s overall well-being.”

This can be achieved by going back to the basics. “Create a mental health policy in the workplace that provides mental health leaves, flexible working hours, clauses for diverse groups, benefits, and other important protocols,” Kana enumerates. “Next is to make sure that basic support is there, such as virtual learning sessions and sessions with mental health professionals. Provide Critical Incident Support for emergencies. And finally, create a program for team members that encompasses the intersectionality of a person’s well-being — which means covering their physical, emotional, social, and cultural wellness, as well as financial well-being.”

  1. Change also needs to come from the top. “As leaders, we set the tone for the culture of the organization,” Mark explains. “In 2017, I embarked on a transformation within my organization to openly promote and hire folks from outside who actually met a specific EQ (emotional quotient) bar. And as a result, over time,  we were able to build a far more mature and empathetic leadership group that continues to provide dividends to the bottomline.”

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“If companies want to successfully address mental health at work, they need to make sure that their managers and leaders are equipped with the proper skills and training to handle employees with mental health struggles, such as empathic listening, handling difficult conversations, and even mental health first aid,” Kana shares. “Employees need to feel that the company and the people they work with are safe spaces.” 

  1. A company that invests in its team’s wellbeing reaps benefits. “Addressing mental health in the workplace has positive business ramifications, especially when it comes to attraction and retention of talent,” Mark stresses. “Our numbers speak for themselves; our Employee Net Promoter Score (eNPS) has continued to progress consistently through  the pandemic.”

The eNPS is a company’s way of measuring how employees are likely to promote the company to other people because of their positive experience. “An eNPS of 20 to 50 is considered healthy. Anything above 50 is very good to outstanding,” explains Transcom Asia Director of Employee Engagement And Communication Aldrin Carlos. “Transcom Philippines’ average eNPS in 2021 is 57.9; our score this third quarter was 62.1 versus the global score of 54.”

“As leaders we are wired to get results and to always look at the numbers, and there’s nothing wrong with that,” Kana says. “But our people are the ones driving those results and numbers; if they are stressed and unhappy, it will take a toll on our business. When you invest in your employees, you also invest in the future of your company.”

  1. There is no health without mental health. “When I first came to the Philippines 14 years ago, the conversation at work was all about physical health — how do we make sure our  people have a healthy diet, how can we get them to stop smoking, etc?” Mark relates. “But given what we are facing now, I believe that mental health is just as important, if not more important, than physical health. In the same way that many of us exercise our physical self three to four times a week to avoid serious illness, exercise or support for our mental self also needs to become the norm.” 

“As employers, we need to transcend the traditional approach of treating mental health concerns to something more innovative and proactive,” Kana says. “The more you understand your people through empathetic leadership and policies, the more you will be able to provide the right kind of support.”

MindNation uses a data-based approach to create proactive, customized, holistic health programs for your employees. Partner with us to build happier, healthier, and more productive teams. Visit http://www.mindnation.com now!

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Employee Wellness

Managing A Multigenerational Workforce: Tips To Keep Gen X, Millennial, And Gen Z Employees Thriving And Engaged

In a previous post, we wrote about the different myths and stereotypes that each generation has about the other, and which contributes to employee disengagement and unhappiness. Once empathy and understanding are established among team members, focus must now shift to how senior leaders can address each generation’s well-being needs so that everyone becomes happier, healthier, and more productive.

According to a report by management consulting company McKinsey, companies that mix the different strengths and perspectives of younger and older workers benefit from better decision making, problem solving, and innovation. The report made special mention of the importance of age diversity and inclusion during the COVID-19 pandemic, stating specifically that “companies whose leaders welcome diverse talents and include multiple perspectives are likely to emerge from the crisis stronger.”

So what does each generation want from their leaders? Grace De Castro, founder and Chief Empowerment Officer of V+A Consulting, a boutique consulting firm with expertise in customized people programs and creative business solutions, shares her thoughts:

What Gen Xers want

  1. Minimal supervision from leaders. “Gen Xers prefer to work independently because it was also how they grew up,” Grace explains. “This is because they were raised with both parents working, they became accustomed to fending for themselves.”
  2. Peer-oriented collaboration. Precisely because their parents were busy and there were no Internet or smartphones to occupy their time, Gen Xers spent a lot of time interacting face-to-face with friends, so they grew up learning how to make genuine connections.
  3. Very clear opportunities to shine — “Because this is the generation that lacked attention from their parents, they are always looking to prove themselves,” Grace reminds. “So if they are not yet leaders, give them tasks that will allow them to show off their leadership skills; and if they are already leaders, invest in their continuous education like subsidizing online courses or assigning them an experienced mentor.” 
  1. Benefits related to physical and mental health. “Gen Xers have poor physical health,” Grace points out. “Among the different generations, they have the highest levels of alcohol and smoking abuse, as well as high levels of depression and anxiety. But they don’t talk about it and are less inclined to speak up when asked because they come from a generation that taught them to just follow and obey.”

    Grace believes that health benefits will also be warmly received because Gen Xers are already at that age when they know they are no longer young, that they are now closer to retirement compared to their Millennial and Gen Z team members. 

If you need guidance on how to implement a holistic well-being program at work, partner with a mental health and well-being company that can offer data-based and customized solutions to address the specific needs of team members. 

  1. Work-life balance. Similarly, because Gen Xers will not complain, it must be up to the company to create an environment that allows them to not feel guilty when they take breaks. 

What Millennials and Gen Zers want

  1. Employers who prioritize their well-being. Because Millennials and Gen Zers are work martyrs, they feel guilty for taking breaks. So as a leader, constantly remind your team members to slow down or rest between tasks. In addition, avoid assigning tasks outside work hours. “Let them know it’s okay to say ‘no’ when work becomes unmanageable,” Grace says.
  2. Constant reminders to unplug. Similar to the above, encourage these tech-savvy employees to disconnect from social media once in a while. Research has shown that too much consumption of social media increases feelings of inadequacy, FOMO (fear of missing out) and isolation. “These add to a person’s stress and anxiety,” Grace explains.
  3. Giving feedback. Millennials, in particular, crave continuous feedback. They demand and expect a responsive managerial style and ongoing relationships with their supervisors. “Feedback is not shouting at them if they make a mistake,” Grace cautions. “Rather, it is taking the time to walk them through what they did well and what they could improve on.” 

Just because someone was born in a certain time does not mean everything about that generation applies

Grace de Castro

For everyone

  1. Beware dubious generalizations about others. “Just because someone was born in a certain time does not mean everything about that generation applies,” Grace says.
  2.  Spend time getting to know your team members. “Each person has their own story to tell,” she adds.

The COVID-19 pandemic has put so much pressure on workplace leaders to maintain profitability that sometimes, looking out for the welfare of employees takes a backseat. “But unless your company is  fully automated, caring for the well-being of the people who work for you is the best investment you will ever make,” Grace says. “We need to be mindful that regardless of what generation they belong to, everyone is feeling overworked, feeling guilty for taking breaks, and struggling to separate work life from home life. So as a leader, it is important to make sure that everyone enjoys the work, feels valued, and feels like part of the team.Getting to know your people is what pays dividends and will pay back a hundredfold when you do it well.”

MindNation is a mental health and well-being company that focuses on holistic well-being to create customized programs for team members. Partner with us to build happier, healthier, and more productive teams. Visit www.mindnation.com to learn more!

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Relationships

When Both Won’t Budge: 3 Ways To Agree To Disagree With A Loved One

Politics. Religion. Divorce. LGBTQ+. COVID-19 vaccines. These are just some examples of topics that can be very polarizing when brought up between colleagues, friends, and loved ones. If you want to avoid getting into a full-fledged argument and preserve the good relationship you have with the other person, sometimes the best course of action is to just agree to disagree. This means coming to an understanding that neither of you are going to change the other’s mind and expressing a willingness to move on. 

Aiza Tabayoyong — a family and relationship expert from The Love Institute, a pioneering company equipping couples, parents, and individuals with skills on how to have fulfilling relationships with those dearest to them — shares some ways you can properly and respectfully agree to disagree:

  1. Communicate to understand, not to change minds. Listen without bias. “Instead of saying right off the bat ‘No, you are wrong’ or ‘That’s such a crazy thing to think,’ ask ‘Why do you feel this way?’ or ‘What makes you think this way?’” Aiza advises. Show respect and curiosity instead of judgment and condemnation. Then move on to #2 —
  2. Find common ground. If both of you are set in your respective beliefs, try to look at the big picture. What do both of you want to achieve? What final outcomes are you interested in? Political differences, for example, can be rooted in a desire for better governance or protection of the family’s welfare; the issue of COVID19 vaccines, on the other hand, is about staying safe and healthy. While both of you may have different ideas on how to achieve these goals, choosing to focus on the why will make it easier to accept these differences.
  3. Ask yourself what’s important. Choosing to agree to disagree is easier said than done. But if the relationship is special to you, preserving it should trump your need to be right. “At the end of the day, what’s more important to you — keeping the relationship or winning the argument?” Aiza asks. “Is it campaigning for a candidate, or saving a marriage or friendship that has been there even before this candidate ever thought about running for a position?”

MindNation WellBeing Coaches are available 24/7 to help you build better communication habits so that you can express your thoughts and opinions more effectively. Book a teletherapy session now at www.mindnation.com.

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Employee Wellness

Generation Gap: Debunking 5 Myths About Gen X, Millennial, and Gen Z Employees

Today’s workforce is generationally diverse: according to an article by think tank Pew Research Center, there are currently four very different generations working side by side in the workplace:

Baby Boomers (those born 1946-1964), who occupy critical leadership roles in the organizations;

  • Gen Xers (born 1965-1980), who may also occupy leadership positions;
  • Millennials (born 1981- 1996), who are next in line for leadership positions;
  • Generation Z (those born 1997-2012), who are just now making their way in the workforce

Bridging the generation gap at work can be challenging because each generation brings with it unique work values, ethics, and preferred ways of managing and being managed. “Generations are defined by socio-economic and political events that occurred during the formative years,” explains Grace De Castro, founder and Chief Empowerment Officer of V+A Consulting, a boutique consulting firm with expertise in customized people programs and creative business solutions. “These events helped shape the way a person thinks, so one generation’s way of doing things may be vastly different from another generation’s.”

As a result, it is not uncommon for older generations to ‘look down’ on younger team members and judge ‘Why are they acting this way, we weren’t like that before?’ or for Millennials and Gen Zers to regard older coworkers in a similarly negative light.

While these thoughts and emotions are valid, it is important for companies to reduce stereotyping and cultivate understanding so that everyone works together harmoniously.

Grace De Castro

“While these thoughts and emotions are valid, it is important for companies to reduce stereotyping and cultivate understanding so that everyone works together harmoniously,” Grace advises. Below, she shares 5 myths about the different generations that need to be debunked or contextualized:

Myth #1: Gen Xers have outdated values. They are homophobic, racist, sexist, etc.
PLAUSIBLE: “It might seem that way because Gen Xers are in positions of authority at work, so everything they say is noticed,” Grace concedes. “But this does not mean that all members of that generation think the same way.”

Myth #2: Millennials and Gen Zers are lazy.
FACT: According to this Forbes article, 4 in 10 millennials consider themselves “work martyrs.” “By this, we mean that they think of themselves as dedicated and indispensable workers who are wracked with guilt whenever they take time off, so many of them actually continue working while they are on leave,” Grace points out. This article by the Harvard Business Review also concurs — millennials are more likely to forfeit paid days off than older generations.

Myth #3: Millennials and Gen Z-ers are entitled and disrespectful.
PLAUSIBLE:
Being entitled means believing oneself to be inherently deserving of privileges or special treatment. So are younger co-workers really more self-absorbed? Grace says this would depend on the culture of the organization. This is because while a study published in the Journal of Business and Psychology found no difference in the work ethics of the different generations, she says that millennials are more willing to speak up for themselves and express their opinions — even to their superiors — than their older counterparts. “Millennials are not afraid to ask for that raise or promotion, or to take the risk to move on when necessary,” she says. This is why it’s important for organizations to create safe spaces in the workplace and make sure that employees are allowed to express themselves without fear of repercussions.

Myth #4: Millennials and Gen Zers seek purpose over paycheck.
FACT:
A survey of more than 20,000 LinkedIn members revealed that Millennials were found to be the least purpose-driven generation. Additionally, 84% of Gen Z workers said they would like to do purposeful work for a company in which they believe in, but financial security has greater relevance.

It is actually Baby Boomers and Gen Xers who prioritize purpose. “Sense of purpose deepens as you progress in your career,” Grace explains. “For Baby Boomers, it’s because they have worked longer and are at that age when they want to leave a legacy. On the other hand, Gen Xers are old enough to have experience and financial security, but also still young enough to consider doing other things.” She adds that the COVID-19 pandemic, in particular, has caused many Gen Xers to reexamine their current life path and ask themselves “Am I really doing what I’m supposed to be doing?’”

Myth #5: Millennials and Gen Zers are job-hoppers and have no loyalty.
PLAUSIBLE: Contrary to popular perception, the Pew Research Center says that Millennials actually stay with their employers longer than Gen X workers did at the same age.

However, a survey by Gallup reveals that 21% of Millennials have changed their jobs within the past two years and another 44% plan on leaving the company in the next two years. Additionally, less than half of all Millennials and Gen Z workers feel connected to their jobs , resulting in more than 40% saying that they would change jobs if another opportunity arose.

“So based on data, yes, I would say that Millennials and Gen Zers are job-hoppers,” Grace says. “But the better question leaders should ask is why do they do this?”

Bridging the gap
Grace encourages leaders to keep striving to understand the different generations at work and encourage team members to be more empathetic towards one another. “Being a good leader means you keep levelling up and empowering your team members, and building an environment where good becomes better and better becomes best,” she says.

MindNation offers virtual trainings on how to manage multigenerational employees so that you lessen stress, increase empathy, and build happier, healthier, and more productive teams. Book this talk now through [email protected]

Categories
Employee Wellness

Employee Mental Health: Myths and Facts Explained

Despite efforts to increase awareness and understanding about mental health,  many workplaces still consider mental health a taboo topic.  A MindNation Pulse Survey of more than 6,000 full-time employees in the Philippines revealed that only half (50%) of respondents feel comfortable talking about their mental health challenges with their managers, while 11% do not want to talk to anyone about their challenges at all. Additionally, only 12% of employees with mental health issues truthfully admitted to their managers that they are taking a sick leave for the same reason; the others stated that it was for a physical health problem, took it as part of their annual leave, or didn’t want to give a reason at all. 

Companies whose employees who do not receive support for their mental health challenges are more likely to have higher rates of absenteeism, presenteeism, and employee turnover. These productivity losses cost organizations at least PHP7 million per year for every 1,000 employees. 

One way to address mental health in the workplace is to stop the spread of misconceptions surrounding mental health challenges. Dr. Rhalf Jayson “RJ” Guanco, a licensed psychologist and psychometrician, faculty member of the Adventist University of the Philippines, and the current president of the Adventist Mental Health Association, lists down the top 5 employee mental health myths and provides the facts to debunk them:

Myth: Hard-working people do not have mental health concerns.

Fact:  No one is exempt from mental health concerns. “Mental health concerns can occur regardless of one’s personality, age, social situation, religion, or any other factor. It can also begin at any age, from childhood to later adulthood,” Dr. RJ enumerates. “Being hardworking, dedicated, or industrious does not make a person immune from mental health challenges.”

Myth: People with mental health problems are unreliable employees/team members.

Fact: Although mental illnesses may have a negative impact on an employee’s ability to function at work, it may also have no effect at all.People with mental health concerns can go on to live happy, productive lives as long as they receive proper treatment and support. “Mental health issues are in no way a reflection of a person’s ability to perform their work functions and are not a hindrance to perform job-related tasks. The fact that an employee has a mental health problem does not diminish his or her humanity. Putting them in a negative light and calling them untrustworthy should be avoided at all costs,” Dr. RJ stresses. 

Myth: Stress is really a part of work, so those with mental health concerns are just being lazy or making excuses.

Fact: “According to research, mental health disorders are caused by a variety of factors interacting with one another, including but not limited to heredity, biology, psychological trauma, poverty, adverse childhood experiences, environmental stress, etc.,” Dr. RJ enumerates. So in order to understand mental health problems properly, the person must be viewed holistically rather than singularly, i.e. work stress.

Myth: We’re in a pandemic, so it’s normal to have mental health problems and there’s nothing we can do but ride this out.

Fact: “While it is perfectly normal to feel nervous, depressed, isolated, and agitated, or to suffer from any kind of mental health problem during abnormal events like the COVID-19 pandemic, these responses must be handled well. Not everyone can just ‘snap out of it,’” Dr. RJ explains. “The more we understand ourselves and our own mental health, the more we will be able to provide useful support to individuals in our life who are dealing with mental health issues.”

MYTH: I can’t do anything for a colleague with a mental health problem because I am not a mental health professional.

FACT: “Even if you are not a mental health professional, you can still make a significant difference in the lives of those who are suffering from mental health concerns,” Dr.RJ assures. “For example, you can provide an empathetic ear to a coworker who is experiencing difficulties. Simply being the person who is willing to listen can help someone feel better. According to studies, persons who suffer from mental illnesses grow better and many recover when they have a strong support system.”

Education, guidance, and awareness training for managers can help them spot the warning signs of mental health problems among staff and offer support before they escalate.

Partner with MindNation to build happier, healthier, and more productive teams. Visit www.themindnation.com to know more about our services.