TL;DR
- Stress is a major cause of burnout and high staff turnover in corporate finance.
- Key strategies to manage stress:
- Prioritise time management and use automation tools to tackle tight deadlines.
- Set clear boundaries between work and personal life.
- Make time for health, relaxation, and mindfulness.
- Foster collaboration and communication within teams.
- Encourage seeking professional support for ongoing stress.
- By implementing these tips, finance professionals can improve their well-being and productivity.
introduction.
According to a 2024 study that looked at stress-related personal injury claims, finance is one of the most stressful industries in the UK. A third of the financial workforce has taken time off due to stress, and as the cloud of the economic crisis lingers, and the pressure of filing reports, creating budgets, meeting forecasts, and making deadlines remains an ever-present threat, it’s only getting worse.
Stress management in corporate finance is, therefore, essential for maintaining a healthy and happy workforce. The following tips outline ways of reducing corporate finance stress and beating the blues when it feels like everything is getting too much. Whether you're leading a team or managing complex financial operations, our proven techniques will help you thrive under pressure, boost team morale, and create a more productive environment where success naturally follows.
tip 1: prioritise time management to tackle tight deadlines.
We all have moments when we feel a little overwhelmed. It seems like there’s always something to finish and someone to please, but not enough time to do any of it. It’s a source of stress for countless finance professionals, and as prevention is always the best cure, finding ways to manage those tasks is paramount. Effective time management for finance professionals is all about staying organised and realistic.
You can also incorporate a few of the following tricks to give yourself some perspective and make those long to-do lists a little shorter and a lot more manageable:
- use task management apps: one of the best stress management tips for accountants and other financial professionals is to use apps like Karbon and Financial Cents. These task managers make it easy to visualise, complete, and organise tasks.
- delegate: corporate finance time management isn’t just about squeezing more hours out of your day or finishing tasks quicker. Oftentimes, the best solution is to delegate easier tasks to capable colleagues/employees or assistants. Make sure your skilled and high-paid employees are not spending their days bogged down with menial tasks.
- track your time: how much do you actually work every day? You likely know how long you remain at your desk, but how much of that time is spent working and how much is wasted on needless meetings, fruitless conversations, and distractions? Time-tracking apps like Toggl Track and Clockify can help employers and employees manage their time and reduce stress levels.
tip 2: embrace automation and technology to reduce workloads.
The role of automation in corporate finance has increased substantially in the last few years, and if you want to relieve some corporate finance stress, you should embrace that automation. There is a wealth of automation technology for financial professionals, all of which is geared toward making your life easier and your job less stressful. For instance, AI-based forecasting and reporting tools provide fast and accurate results with minimal human input, leaving you to focus your efforts elsewhere.
There is also some specific financial software for stress relief, including ones that focus on budgeting (Snoop, Hyperjar), mindfulness (Headspace), and sleep (Calm).
tip 3: connect with others.
Team support for finance professionals is just as important as any personal and work-related assistance. There is a greater risk of work stress in finance departments where individuals feel they can’t communicate with others and need to bear the burden themselves.
- collaborative work in corporate finance: there is no shortage of collaboration software (Asana, Slack, Google Docs, ClickUp), and utilising these programmes gets everyone involved and ensures no employees are forced to do more than their fair share.
- reducing stress through communication: happy employees are communicative employees. So, encourage free and open communication—don’t punish bad ideas and make sure everyone has a say.
- providing support to all: everyone in the workplace should be offered support as and when needed, including everything from job assistance to occupational therapy.
- regular team meetings: A team meeting isn’t just a good way to brainstorm ideas and clarify issues, it also promotes collaboration and improves interpersonal relationships.
Not only is the finance department stress management a good way to keep employees happy, but it can also increase productivity and efficiency. Everyone works together and shares the load, and employees are less likely to take time off or jump ship.
tip 4: set clear boundaries between work and personal life.
There should be a clear divide between work and personal life. As soon as you bring the former into the latter the line blurs and chaos ensues. A good work-life balance for finance professionals means never neglecting your social life or hobbies for work and acknowledging that when the working day is done, your home life begins.
Setting boundaries in corporate finance is tough, as there’s constant pressure to do more and work harder, but that’s why stress management for finance professionals is such a hot topic right now.
To maintain personal wellbeing in finance roles, professionals should:
- only check work emails at work.
- turn off work phones at the end of the working day.
- spend more time with loved ones.
- have hobbies that are not work-related.
tip 5: make time for your health—practice mindfulness and relaxation techniques
If you’re constantly struggling to meet deadlines, stressing over delays, chatting with clients at all hours of the day, and spending your time tapping away at a keyboard on a desk, your physical and mental health will suffer. A little mindfulness for financial professionals can go a long way.
One of the best stress-relief techniques for accountants and other finance professionals is to take plenty of time outs. There isn’t usually much room for relaxation in corporate finance, but giving employees some alone time to de-stress and recharge can work wonders for their health and productivity.
tip 6: take regular breaks and time off when needed
More than 8 in 10 finance professionals have considered changing jobs due to burnout. It happens in all industries, but it is extremely common in the finance sector, especially during busy periods like budgeting and year-end reporting.
Employers should offer occasional time off for stress relief. Breaks for finance professionals may reduce productivity in the short-term, but those employees will come back healthier, stronger, and more productive.
They are also less likely to take time off for stress and may think twice about leaving the company. The finance sector has one of the highest staff turnover rates, and shaving a few percentage points off this staggering figure could save companies a small fortune in training and recruitment costs.
Employees should be encouraged to step away from their workstations—even if they work remotely—and devote more time to their hobbies and loved ones.
Those breaks don’t need to be long, but they should be consistent. Preventing burnout in corporate finance could be as simple as extending dinner breaks, allowing the occasional personal day, or encouraging employees to spend an afternoon building team rapport at a restaurant, bar, or team-building event.
tip 7: seek professional support for ongoing stress
Sometimes, no matter what you do, stress management in corporate finance just isn’t working. You can implement all the right strategies, follow the right guidelines, and give employees support, only for a few employees to feel like the weight of the world is on their shoulders.
It’s important, therefore, to offer some kind of corporate support for employee wellbeing. Mental health in finance professionals is nearing an all-time low, so when all else fails, provide them with professional counselling and therapy.
Employee assistance programmes (EAPs) such as Health Assured and Care First can be costly, but they often pay for themselves tenfold. They provide professional stress management for finance workers, keep employee happiness high, and, as a result, increase productivity and reduce staff turnover.
There will always be someone there when an employee needs support, whether it’s a quick chat during busy periods or emotional support during times of great personal stress. The finance sector has a “keep calm and carry on” reputation, one that promotes hard and tireless work and doesn’t always consider the emotional pressure that goes into meeting those demands. So, employees need to know that there is no stigma to using counselling services.
Corporations should engage in open discussions regarding mental health, encouraging employees to use the available services as required while pushing the point that all discussions are confidential.
conclusion: effective stress management for finance professionals.
Whether it’s accountant stress relief, investor stress relief, or general stress management in corporate finance, focusing on mental health is essential for finance professionals. The country is in the grip of a cost-of-living crisis, leading to demanding clients and complex contracts, but with the rise of AI-driven automation, an increased acceptance of workplace issues, and a greater emphasis on eradicating work stress in finance, there are solutions to every problem.
Whether you manage a team of professionals or work alone out of a home office, if you focus on maintaining a work-life balance, improving personal health, encouraging collaboration, taking breaks, and using the tools and resources available to finance professionals, you can keep stress low and happiness high.
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