Posted by Accountemps on Wednesday, January 8, 2014 - 00:00 | Follow me
Looming deadlines, overlapping priorities, and the ever-recurring monthly close and quarterly financial statements — it’s no wonder many financial professionals are feeling stress in the workplace. Staff cutbacks during the recession have not helped.
Asking your team to do more work with fewer resources can lead to diminishing returns — to say the least. And the more heavier workloads caused by understaffing go on, the more it can add even more stress as workers have trouble balancing work and personal responsibilities. How do you know when you’ve reached a breaking point of stress in the workplace because of a too-lean workforce? Here are eight signs it may be time to hire:
1. You’re missing growth opportunities
You have sufficient financial resources to pursue new business, but your staff can’t handle the stepped-up workload it would entail … so you wait instead of growing.
2. New business isn't making you smile
Maybe you secured a new account, but instead of celebrating, you or your employees are worrying about how to get it all done.
3. Even top performers can't keep up
Communication with your ace employees is suffering, and they’re missing deadlines constantly.
4. Overtime is becoming the norm
It isn’t just around peak seasons or big projects anymore. Overtime has become the rule rather than the exception, and work is starting to invade the home space.
5. You're pitching in too often
A good manager knows when to roll up her sleeves and pitch in, but now you’re doing the work of three employees.
6. Staff members are out sick more often
Your team is using plenty of sick days, and not just for sleeping in. Overwhelming workloads may be impacting their health.
7. Errors are on the rise
In a rush to get all the work done, your team is making more mistakes than in the past. When pressed, they explain they just don’t have time to re-check their work before moving on.
8. Clients are noticing
Dissatisfied customers are speaking up more often about missed deadlines, poor work quality and spotty communication.
If you’re encountering any of these signs of stress in the workplace, you can help by giving your team tips for dealing with it. But these are not likely to keep stress away entirely. Often the only solution is to bring in reinforcements. And remember, not every job requires a full-time worker. Using a combination of full-time employees and highly skilled interim accounting and finance professionals can help you cost-effectively staff up or down in response to business demand.
With so much to do and time running short, it’s easy for your staff to fall behind. Some managers don’t have a clue and fail to notice. Make sure you don’t fall into this trap by staying on the lookout for signs such as these.