With the pandemic and financial, political, and social unrest, financial professionals are experiencing an unprecedented level of stress at work. According to a recent survey by staffing firm Accuntemps, 52 percent of financial professionals are stressed at work, and 60 percent have reported a significant increase in stress levels over the past five years. Accountants that are stressed out can hurt the firm’s morale and productivity, as well as increase turnover due to burnout. To address this problem, managers should actively look for signs of burnout in their employees and work on alleviating stress levels.
Tips for Managers
Help Prioritize: Understand the workload and meet individually with team members to help prioritize workloads and set realistic expectations. Look at your resources. Are they overworked? You might need a temp to remove mundane tasks and lighten your team’s load.
Encourage Time Off: Encourage and promote a work-life balance within your firm. Advocate for well-deserved vacations. Offer additional time-off incentives, and see your employees return to work with more drive and passion.
Share Resources: Provide your firm with resources to reduce stress. Encourage them to participate in stress management webinars, wellness programs, and yoga or meditation classes. Set a good example and participate in these activities as well.
Separation of Work and Home: Understand that work and home life must be divided. With remote work on the rise, it’s easy to expect your team to be available 24/7. Don’t fall into that trap. When you respect your employees’ time, they will be more loyal and dedicated when they are “on the clock.”
Make it Enjoyable: The littlest of things go a long way. Hide and seek 2nd Wednesdays, where you hide a $50 Amazon card in the office. Have a paper plane flying contest. Anything that gets employees out of their chairs, moving, and socializing.
Be Genuine: Take an interest in what employees are doing and what they are achieving. Understand that their success is your success, whether personal or professional.
Tips for Employees
Protect Your Time: Staying organized is key to finishing your projects. Rather than juggling two things simultaneously, allot time throughout the day to focus on critical assignments.
Speak Up: If you have too much on your plate, talk to your manager about your workload, and don’t hesitate to ask for help.
Take Breaks: If you feel overwhelmed, don’t stay behind your desk. Get up and take a walk. Go outside, take off your shoes, and breathe in some fresh air.
Exercise: You don’t have to go to a gym to exercise, but you must. You can do great activities in your office chair, like yoga or controlled breathing.
Give 100 Percent: Whether at work or home, give 100%. When you are at home, be at home. Most of us cannot go home 100%. Instead, we’re 40% at home and 60% at work. Practice going to work and leaving home at home. Then when you go home, leave work at work. You will find a richer, more abundant experience in both places.