Curbing burnout in accountants: 5 steps that can help

April 7, 2022 11:41 AM

As the language of business, accounting has continued to evolve to keep pace with the rapid change in varying industry landscapes. With more and more businesses shifting to digitized models and 74% of CFOs at large companies finding payment operation digitization “very” or “extremely” essential to their businesses’ goals, it’s no surprise that the professional accounting and bookkeeping industry must shift too.

An accelerant of that shift is technology, which is not only reinventing how accountants and bookkeepers engage with clients, but permanently changing how they complete client work. And it is welcome. Whether it’s minimizing the number of administrative tasks that take up large chunks of their day or getting more access to data to help inform a decision, accountants and bookkeepers can benefit.

At the same time, an accountant's work environment is key. To have an attractive place of work is to understand a few key tips and tricks:

1. Leverage automation to avoid wasting time

Enhancing productivity is essential. Where a lot of accountants fall behind is the completion of manual tasks that can now be automated through technology. An example could be reviewing manual work papers against static, disconnected accounting software not tied to a source of truth. In turn, using software that provides a single source of truth between accountants and their clients — whether it involves tax, management accounting or bookkeeping — allows both parties to look at the same data in real time, reducing the need to spend time manually reviewing work papers against disconnected software to ensure data is accurate and verified. Another example is through the automation of client engagement. This helps significantly increase the efficiency of firms in comparison to those opting for traditional methods. Cutting out the admin work when it comes to managing client relationships enables a more accessible process for clients to engage, whether they’re providing feedback, have queries, or booking appointments.

Through the likes of an integrated approach, businesses can reap the many automated, convenient and time-saving benefits of multiple applications. Redefining client engagement, accountants can curate an interactive approach for accessing real-time information, eliminating the need to continually fill out information across many platforms or books.

2. Become an expert in verticals you’re passionate about

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One size fits all does not mean the same in business. Focus on a niche that’s interesting or exciting. Verticalization in any industry is paramount, as clientele don’t just want a good service. They want a business partner who can make them more competitive. To be competitive, it’s imperative to understand the ins and outs of the landscape in which they operate.

Verticalization simply is a thoughtful approach accountants can take to level up their offering in client engagement. As they continue to explore or become familiar with specialized fields of interest, not only do they operate in an industry they like but they can better understand the software, benchmarks, capital providers and best practices within these industries. Accountants can develop the skills and further knowledge to provide better advisory services for SMB clients.

3. Build relationships for the future

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Operating with complete transparency to provide high-quality counsel and advisory will help build relationships with clients to be seen as an extension of their team, which is critical to a continuing client service role.

Similarly, accountants also need to invest in business relationships that serve them, which means getting paid what you’re worth. Eliminating the sometimes challenging discussions around invoicing and late payments through automated processes is a game changer. By putting those systems in place and placing that section of business on autopilot, client management can be just that — creating more meaningful and lasting connections.

Being in a business fueled by client relationships, accountants felt the pressure throughout the pandemic. The evolving landscape left them in a constant state of work, providing invaluable support to clientele as they navigated the evolution of stimulus, loans, laws and shifting tax deadlines. But the pandemic also opened the opportunity to think further into the future for long-term gain, rather than being reactive during the moment, which opened up a relentless focus for accountants to assist clients in staying solvent, plan for the future despite living in a state of uncertainty and keep up to date with any obligations.

4. Set boundaries to help prioritize workloads

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Work boundaries help safeguard time, energy and purpose. While some boundaries are functional and clear, others can be more intangible or flexible, and this is where it can get murky. To avoid burnout, it’s fundamental to set expectations not only for yourself but also with your clientele. Whether that means no meetings on Fridays or implementing a cap on calls per day, prioritizing time in a meaningful way is key to ensuring client expectations are met.

At the same time, burnout culture is real. At a time of mass resignations, it’s never been more important to stay attuned to how boundaries play a role in mindset and culture. The glorification of working 24/7 isn’t doing anyone any favors, especially accountants. With the blend of working from home and creating your own schedule, it can sometimes be too much to delineate when to “turn off,” but the rest and recharge are needed.

Where available, lean into tooling for efficiency. Technology can be a great asset in reducing manual tasks, freeing up time in calendars to prioritize focusing on more important business, like winning clients, improving culture and critical thinking to level up offerings.

5. Lean into your company culture

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Make an effort to lean into resources (and voices) sitting at your doorstep. An important approach to any business is to ensure there is an appealing environment for employees or clients and requests are being heard. Leaning into suggestions from employees or clients can best guide culture and work-life improvements. By listening to and implementing feedback from peers or clients, business owners and accountants can level up to create a more appealing and productive environment for all.

Accelerated by the pandemic, flexible working environments and hours have been proven to be successful when creating a productive and supportive environment for accountants and bookkeepers. In an industry where technological developments have advanced the way you can work, not all required tasks need to be completed in traditional 9-5 working hours. Having trust in employees to achieve a high standard of work remotely, when they feel most productive, is an easy way to ensure you’re productively running your business.