The Quest for Balance: How Preventing Burnout Can Address the Growing Exodus in the Accounting and Finance Industry
Accounting and finance professionals are leaving in droves, and stopping that trend requires a focus on work-life harmony.
A worrying pattern has emerged, according to new data from the Bureau of Labor Statistics and as published in a WSJ article : in the US alone, almost 300,000 accountants and auditors have quit their jobs in the last two years. It’s more important than ever for finance and accounting professionals to strike a balance between their personal lives and their work lives in order to avoid burnout.
Life’s balancing act consists of juggling five aspects: career, family, health, friendships, and personal growth. In the finance and accounting industries, the pressure to excel in the workplace often causes professionals to lose sight of this delicate equilibrium. Remember that while a career may bounce back from setbacks like a rubber ball, the other aspects of life—family, health, friendships, and personal growth—are fragile glass balls that may suffer irreversible damage if neglected.
The increasing exodus of skilled accounting and finance professionals demonstrates the critical role that work-life balance and the prevention of burnout play in keeping talented people in their fields. The root cause of burnout is not overextending oneself but rather prioritizing the needs of others over one’s own. We can’t please everyone, but that shouldn’t stop us from trying. After realizing how infrequently other people actually form opinions about you, Eleanor Roosevelt said, “You would not worry so much about what others think of you.”
It’s worth remembering that, according to Jeff Foster, “depressed” can be read as “deep-rest"—a spiritual tiredness that indicates the need for self-care, reflection, and growth — when you’re feeling down or worn out. Healing and happiness can result from practicing vulnerability and seeking equilibrium.
Work-life balance, self-awareness, and self-care must be prioritized to stem the loss of talent in the accounting and financial sectors. A more long-lasting and fulfilling career in finance and accounting can be fostered by accepting our own limitations, placing a premium on our own happiness, and pushing ourselves to improve. Employers, for their part, should see the value of preserving the industry’s talent pool by investing in the health and happiness of their staff members and providing them with tools to avoid burnout.
