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Providing junior accountants with greater support in the early years of their careers is critical for preventing burnout and keeping them in the industry, according to Springfox.
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Young accountants at risk of ‘burnout’, warns Springfox
13 August 2024
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Resilience in young workers is relatively low and on a steady decline, which is directly contributing to the decrease in young individuals entering the professional services industry, according to research and resilience training provider Springfox.
Springfox CEO and co-founder Peta Sigley said young workers are more prone to burnout due to workplace expectations and overwhelm.
“When junior accountants kickstart their careers they often have to grapple with high expectations and pressures to succeed which can lead them to set lofty goals and take on more work than they can handle,” she said.
“This drive, while admirable, can soon leave them feeling overwhelmed and out of control.”
CA ANZ also expressed concerns about attracting and retaining younger professionals in accounting roles, having released a campaign last month to attract more people to the industry.
Sigley said protecting junior accountants from burnout is crucial for their individual wellbeing and the long-term sustainability of a company.
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Junior accountants are more likely to feel supported and nurtured within a workplace if they experience a smooth onboarding process, comprehensive introduction programs, reasonable and achievable KPIs, a modelled work/life balance and regular check-ins.
“Make sure younger staff know it’s important to take breaks, practice self-care and enjoy a full life outside of work,” she said.
“Managers and senior leaders have a key role to play in modelling positive habits.”
Psychological hazards such as high job demands, lack of support, lack of role clarity, poor communication and low morale amongst employees are the most common reasons why the industry is facing a shortage of young workers, based on Springfox research.
Sigley said inexperience and job instability also contribute to this.
“Without a lot of professional experience, younger workers might struggle with managing their workload and stress effectively which can make it harder for them to find their footing and cope with workplace demands,” Sigley said.
“In a competitive job market, younger workers may feel they need to prove themselves continually leading to overcommitment and difficulties in setting boundaries.”
“This can escalate stress levels and burnout.”
It has been noted a “fear-based” culture in workplaces is likely to have negative repercussions for team dynamics, collaboration and morale which leads to an erosion in communication and siloed work.
Springfox research outlined workers under the age of 30 are most likely to face burnout and organisations need to be aware of the signs.
“To help younger workers navigate these challenges, it’s crucial for organisations to foster supportive work environments, provide resources for managing stress and ensure alignment with their values,” Sigley said.
“By addressing these factors, we can help mitigate burnout and support the wellbeing of the younger workforce.”
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