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How Can We Improve Mental Health In Accountancy Practices?
19 May, 20231-2 minutes
In this blog, you will learn:
- What mental health is
- The importance of mental health in accountancy practices
- Steps to improve mental health in accountancy practices
Accountancy practices play a significant role in the financial world, and with the increasing pressure to meet deadlines, manage clients and comply with regulations, it’s easy for Accountants to become overwhelmed and stressed.
As a result, the mental health of Accountants can be at risk. Mental health issues in the accounting profession are a growing concern, and it’s essential for accountancy practices in the UK to implement measures that can improve the mental health of their employees.
Research conducted by Mental Health charity Caba, found that after struggling financially, 66% of Accountants surveyed reported feeling anxious, 59% reported feeling stressed and 34% reported feeling depressed, implying that it’s not just day to day workplace worries that can have a negative effect on mental health.
What is mental health?
Mental health refers to a person's overall psychological well being, including their emotional, cognitive, and behavioural health. It’s the state of balance between a person's emotional, social, and psychological functioning and the demands and challenges of everyday life.
Good mental health means being able to cope with everyday stresses and challenges, maintaining positive relationships with others, and experiencing a sense of purpose and fulfilment in life.
When a person experiences mental health issues, they may have difficulty functioning in their personal and professional lives, and their overall quality of life can suffer.
Common mental health conditions include anxiety disorders, depression, bipolar disorder, and schizophrenia, among others.
Taking care of our mental health is just as important as taking care of our physical health. Good mental health can improve our overall quality of life, relationships, and productivity at home and in the workplace.
The importance of mental health in accountancy practices
Ensuring mental health is put first is vital for Accountants, as they deal with numbers, figures, and data, which require a high level of concentration and accuracy.
If an Accountant is struggling with mental health issues, it can affect their performance, leading to potential errors in financial data which can reflect badly on an accountancy practice.
The consequences of such errors can be costly, not only for the accountancy practice but also for their clients, who may suffer financial losses and reputational damage.
Moreover, the long hours and high-pressure environment of accountancy practices can lead to mental health issues such as anxiety, depression, and burnout, so it’s important that measures are put in place within accountancy practices to look after employees' wellbeing.
The stigma attached to mental health issues can also deter Accountants from seeking help, which can exacerbate the problem. Therefore, providing employees with a safe space to talk is an important step that accountancy practices should take.
Steps to improve mental health in accountancy practices
Raise awareness
Accountancy practices in the UK can take the first step to improving mental health by raising awareness about mental health issues.
Managers should organise workshops and training sessions to educate employees about the common signs and symptoms of mental health issues, as well as providing employees with options for seeking help.
Training sessions can be conducted by internal or external mental health professionals, who can also provide resources and support for those who need it.
Whether someone is aware of their own mental health issues, or they’re worried about a colleague, it’s important to know the signs to look out for.
Implement flexible working
Accountancy practices can also implement flexible working arrangements that can help employees manage their workload and reduce stress levels.
Flexible working can include options such as working from home or flexible hours.
Such arrangements can help employees achieve a better work-life balance, which in turn can have a positive impact on their mental health.
Taking time to unwind and switch off from work is important in any industry, especially one that can involve long hours and busy days like accountancy.
Promote open communication
Accountancy practices can promote open communication by encouraging employees to speak up about their mental health concerns.
Managers should create a safe and supportive environment where employees can share their thoughts and feelings without fear of judgement or repercussions.
Employees should be provided with a confidential and secure platform to discuss their concerns with their managers or mental health professionals.
Provide support
Accountancy practices can provide support to employees by offering access to mental health resources such as counselling and therapy services.
Managers can work with mental health professionals to create a support network that can provide employees with the help they need.
It’s essential to ensure that such resources are accessible, affordable, and confidential, to encourage employees to use them if they feel the need to.
We advise that accountancy practices create an in house wellness initiative to ensure employees wellbeing is always a priority.
Manage workload
Accountancy practices can manage workload by prioritising tasks and delegating workload efficiently.
Managers should also ensure that employees take regular breaks and have adequate rest periods between tasks. By law, anyone who works more than 6 hours a day is entitled to at least one uninterrupted 20 minute break.
Overworking can lead to burnout and stress, which can have a severe impact on an employee's mental health and overall productivity in the workplace.
Foster a positive work culture
Accountancy practices should foster a positive work culture by recognising and rewarding employees for their hard work and achievements.
Managers should create a supportive and inclusive environment where employees feel valued and respected.
Celebrating successes and milestones can boost morale and create a positive atmosphere that can have a positive impact on mental health.
Team building activities, such as sports events or days out, are a great way to form relationships outside of the office and create a happy work environment.
Offer training and development
Accountancy practices can offer training and development opportunities to employees to enhance their skills and knowledge.
Such opportunities can help employees build their confidence and self-esteem, which can have a positive impact on their mental health.
Training and development can also provide employees with a sense of purpose and motivation, which can help reduce stress levels.
Equipping employees with the skills they need to fulfil their roles is important for their mental health and the overall success of an accountancy practice.
Searching for your dream Accountant job?
If you’re searching for your dream Accountant job, why not take a look at all the opportunities available with Spencer Clarke Group now?
Alternatively, why not upload your CV or reach out to one of our specialist consultants who can advise on upcoming positions? We work with hundreds of accountancy practices all over the UK on a range of different positions.
Who is Spencer Clarke Group?
Since 2017, we've been changing the face of recruitment. From our employees, to the way we do business, to the culture within our office, we're determined to make a difference and create a positive impact on everyone around us.
Recruitment to us isn't just about matching candidates and clients; we’re passionate about finding candidates the perfect job which has the ability to boost their salary and standard of living, better their work life balance and improve their mental health.
Similarly, we understand the impact which an experienced and skilled employee can make to a business and we love seeing clients thrive through the hard work of candidates which we have placed with them.
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If you’re searching for a new role, why not visit our job page to take a look at the latest opportunities? Alternatively, upload your CV and one of our experienced consultants will contact you when a relevant opportunity becomes available.
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