Handling heavy workloads is a longstanding reality for accounting and finance professionals. The 1986 Tax Reform Act intensified this by establishing deadlines that cluster tax and audit tasks within the first quarter of the year, a phenomenon known as work compression. This compressed workload is frequently cited by accounting practitioners as a significant business challenge and a leading contributor to employee burnout.
In a workforce already stretched thin, challenges like remote work, shifting priorities, and fast-evolving business and technology needs have become the norm. For many firms, these pressures have intensified workloads, further contributing to an already high-stress environment. A Gallup poll found that two-thirds of workers experienced burnout due to unmanageable workloads, and the accounting and finance sector is no exception.
Burnout is costly. Overworked employees can feel disengaged, work less effectively, and are more likely to seek other opportunities—factors that reduce productivity and impact the organization.
If your team is feeling the strain, consider these strategies to streamline projects and reduce excessive workloads:
1. Plan Ahead
Preparing for peak periods, such as quarter-ends, year-end, or tax season, helps reduce last-minute stress. Staying up to date on new tax legislation before the season begins ensures that you won’t be rushing to interpret changes while handling returns. Encourage clients to submit necessary documents by a specified date through a secure online portal to avoid the last-minute rush and simplify document management.
2. Minimize Distractions
Effective time management can help reduce daily stress. Try scheduling specific times to check and respond to emails and turn off notifications to maintain focus. Inform colleagues of these email-checking intervals, so they know when to expect a response and when to reach you for urgent matters.
Reducing time in meetings can also be helpful. Managers might consider “meeting-free Fridays,” and if that’s not feasible, consider blocking out time on your calendar to concentrate on key projects without interruptions. Regular office hours or weekly check-ins with team members can also minimize spontaneous disruptions.
3. Take Steps to Prevent Burnout
Simple habits, like taking short breaks or going for a walk, can make a meaningful difference in managing stress. If possible, focus more on tasks you enjoy and delegate those you don’t. It’s not always feasible, but finding ways to align your work with your interests can improve daily morale.
Taking regular time off is essential—even a staycation helps. Managers should lead by example, showing the team it's okay to recharge. Set clear boundaries, especially for remote work, by blocking out unavailable hours and avoiding after-hours emails to support a healthy work-life balance.
4. Upgrade and automate
Transitioning to a cloud-based accounting system can significantly ease the burden on your team. Instead of searching for documents on multiple devices or reaching out individually for updates, cloud platforms provide centralized access and transparency, facilitating seamless project management and collaboration.
Automation can also make a difference. Automating routine tasks like invoicing, payment processing, and account reconciliation allows your team to focus on more strategic projects, making their workloads more manageable and efficient.
5. Bring in Extra Support
Evaluate your upcoming workload for the next three to six months. If your team lacks the specific expertise or bandwidth to tackle upcoming projects, consider hiring temporary finance or accounting professionals to support your team’s workload.
It’s doubtful that there will be less work in the future for finance professionals, so preparation is essential. By applying the strategies above, you can help your team effectively manage demanding workloads and reduce workplace burnout.
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