Last updated: 04 Mar 2024 09:00 Posted in: AIA
Muhammad Bilal shares some tips on how accounting professionals can improve their wellbeing and strengthen their mental health.
Stress is inherent in many professions, including accounting, and can be found in many aspects of the job. Accountants can suffer from intense pressure due to ongoing tax deadlines, year-end reports and other financial ad hoc tasks that require timely completion. Challenges can often arise from the need for accountants to be organised and work effectively and efficiently.
Stress levels can also increase due to the complexities of accounting and the ongoing challenge of being familiar with new regulations and tax laws. Accountants must make sure that they keep up to date with compliance issues, which can pose a significant challenge for smaller firms or sole practitioners with limited resources.
The pressure to ensure financial accuracy and meet tight deadlines can take a toll on both mental and physical health. As a result, ‘corporate stress’ is increasingly becoming a condition of significant concern in the corporate accounting and financial sector.
In this article, we will explore a range of stress-busting techniques tailored specifically for accounting professionals, emphasising the importance of mental health and overall wellbeing. Here are my eight top tips for you to consider and incorporate into your workflow.
Step 1: Time management
Effective time management is the core of stress reduction for accounting professionals. By managing time wisely, you not only enhance efficiency but also create room for self-care, contributing to improved mental wellbeing.
Top tip: Prioritise tasks, set realistic deadlines and break down complex projects into manageable steps.
Step 2: Mindfulness and relaxation
In the world of numbers, finding calm moments of mindfulness and relaxation is crucial. Incorporating mindfulness and deep breathing exercises into your routine can help you to stay present and calm.
Top tip: Short breaks for stretching and relaxation can rejuvenate your mind, providing a mental reset that enhances focus and concentration.
Step 3: Exercise to energise your body and mind
It is recognised that regular physical activity is a powerful stress-buster, not only for the body but also for your mental health. Exercise releases endorphins, the body’s natural stress relievers, contributing to a positive mood.
Top tip: Whether it’s a quick walk, a workout session or joining a sports league, physical activity is an investment in both your physical and mental wellbeing. Make a commitment to make a habit of regular activities, exercises or workouts.
Step 4: Effective communication
Building stronger teams is a massive boost to your wellbeing, and clear communication is essential for reducing stress in any workplace. Feeling connected with your team can have positive effects on mental health, providing a sense of camaraderie and shared responsibility.
Top tip: Establishing open lines of communication not only ensures that everyone is on the same page but also creates a supportive and trusting work environment.
Step 5: Maintain a work-life balance
You need to look beyond the ledger. Maintaining a healthy work-life balance is crucial for sustained wellbeing. A balanced life not only prevents burnout but also contributes to your mental resilience, allowing you to approach challenges with a fresh perspective.
Top tip: Set boundaries between work and personal life, allocate time for hobbies and family, and make sure that you take your holidays and breaks.
Step 6: Embrace continuous learning
We all know the demands of staying updated on industry trends and changes! Embracing a growth mindset is integral to managing stress. Continuous learning not only keeps your skills sharp but also stimulates mental engagement. Engaging in learning opportunities can be a source of inspiration and motivation, positively impacting your mental wellbeing.
Top tip: Schedule CPD activities when new changes emerge. That helps you to keep on track with vital changes, as well as improving your performance and mental wellbeing.
Step 7: Embrace technology and automation
Embrace technology! It is increasingly being recognised that accounting software and automation tools can streamline tasks which can reduce manual workload. Embracing technology not only enhances efficiency but also minimises the risk of errors, alleviating the mental burden associated with meticulous financial tasks.
Top tip: A more streamlined process improves organisation and time management, which contributes to a healthier work environment.
Step 8: Empower your team
If you work in a team, effective delegation is an art and skill that can significantly lighten the workload. A collaborative approach not only reduces stress but also fosters trust. This creates a sense of shared accomplishment and support within the team, positively impacting the overall mood and mental health of the team.
Top tip: Take a collaborative approach and empower your team members by entrusting them with responsibilities.
In conclusion
In summary, a good starting point is to implement these stress-busting techniques. Remember that it is essential to find a combination of techniques that work for you personally. Experiment with different strategies and tailor them to your specific needs and preferences.
If stress becomes overwhelming, consider seeking professional support from a counsellor or therapist. Break down the taboos that surround mental health counselling and therapy can be widely regarded in the corporate world. Accounting professionals can not only maintain their mental and physical wellbeing but also enhance their efficiency and effectiveness in the challenging and demanding landscape of corporate finance.
I hope you found these top tips helpful. A healthy accountant is a productive accountant, and prioritising mental health is a key component of sustained success.
Author Biography
Muhammad Bilal is an accounting and finance professional with over two decades of experience, working as a consultant with M B Dean Accountants.
"If stress becomes overwhelming, consider seeking professional support from a counsellor or therapist. Break down the taboos that surround mental health counselling and therapy can be widely regarded in the corporate world. Accounting professionals can not only maintain their mental and physical wellbeing but also enhance their efficiency and effectiveness in the challenging and demanding landscape of corporate finance."
Muhammad Bilal, Consultant at M B Dean Accountants