Occupying a role in a finance function can be stressful due to reporting and month-end deadlines, but with the recent ever unfolding effects of Covid-19, employees are demonstrating considerably higher work stress levels.
The impact of the Covid-19 pandemic is significant to most individuals’ mental well-being. Many finance teams have shrunk as a direct business consequence of Covid-19, resulting in increased workload for the remaining team members tasked to absorb the duties of their former colleagues. Fast forward several months into the pandemic and those still employed are now facing longer working hours to meet the demands of a larger workload. Those left those working in the finance environment are emotionally stretched, fatigued and feeling overwhelmed.
Despite the continuous psychological repercussions, finance managers have the power to minimise this crisis and maintain a high standard of emotional well-being amongst their team.
Why prioritise your teams’ mental well-being?
Overall stress has a huge influence on mental health, including being a leading cause of depression. It can also begin to affect ones’ physical health, causing medical conditions that include hypertension, high blood pressure and the like.
As a result, and from a business perspective, the effect of burnout causes major productivity issues as employees feel disengaged, fatigued, and de-motivated. Each of these productivity issues contributes to poor performance.
The signs of burnout
The ability to identify the signs of burnout is a useful skill to have as it allows you to pinpoint which of your team members are at risk.
Some of the most common symptoms include:
- Negative feelings towards work
- Decreased professionalism
How to help prevent burnout
Arguably the most effective way to avoid team members from feeling overwhelmed is to remove the triggers that cause stress. Although it may not currently be possible to reduce your teams’ workload, managing it effectively can make the world of difference, through things like:
- Effective planning
- Proper delegation
- Time management
- Clear communication
Additionally you can also take the time to educate your employees of the dangers of burnout and encourage them to maintain a healthier work/life balance. Providing them with tools and resources to manage stress, and promoting flexible working, has also proved to help.
At the MMS Group, maintaining our employees’ emotional well-being is important to us and we continue to operate with this in mind. If you are looking for your next employment opportunity and would like to join a team that shares this approach, visit our MMS Careers website.
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