.jpg)
A lot of finance and accounting professionals would say that end of year accounts are one of the most stressful aspects of their job, and it’s easy to see why. Despite having to organise their end of year accounting and meet looming deadlines, staff also have to complete their usual daily tasks and manage ongoing projects. Though end of year accounts cannot be avoided, leaders need to be aware of the burnout that they can cause.
According to one study, 42% of finance professionals feel pressured by a difficult workload, and 33% believe that a reduced workload could prevent burnout in a lot of cases. End of year accounts can put a lot of stress on finance teams if the right support isn’t provided, which can lead to burnout. Luckily, there are things that you can do to protect staff from the stresses and strains of end of year accounts.
How to Keep Stress Levels Low During End of Year Accounts
- Give Plenty of Time - Instead of staff rushing around at the last minute, improve the end of year accounts workload by splitting everything into smaller and more manageable tasks. You could create a timeline of key dates and deadlines, and ensure that everyone has plenty of time to complete their tasks. This will help staff to feel in control.
- Hire Temp Staff - As it’s one of the busiest times for finance and accounting teams, consider hiring temporary staff to help with end of year accounts. This helps to reduce stress and the chances of burnout by having extra people on hand to help. There are a lot of experienced finance and accounts professionals who are looking for short term and flexible roles, so hiring temp staff is simple.
- Think About Employee Wellbeing - Staff will be better equipped to handle the stress of end of year accounts if they are feeling mentally healthy, which is why wellbeing is so important. Offering relaxation apps, meditation and access to mental health professionals can make a big difference. Not only will this help staff to keep their stress at work under control, but it will help them to unwind and relax at home.
- Prioritise Employee Work-Life Balance - It’s not unusual for staff to overwork themselves during end of year accounts but, as an employer, you can help them to have a good work-life balance. Ensure that staff are getting the rest they need, and they have a chance to properly switch off at the end of the work day. Encourage regular breaks and leaving the office at lunchtimes, and discourage people from checking emails outside of working hours.
Though it’s hard to completely avoid the stress and hard work that comes with end of year accounts, it is possible to protect your staff from burnout. By ensuring everyone has enough time to finish their task and hiring additional employees if needed, your team is likely to find end of year accounts to be a more manageable part of the job.
If you need further advice reach out to our team here.