Here are 4 Tips for Prioritizing the Mental Health of Advisory Firm Staff at Work

Accounting and tax professionals are accustomed to working long hours and meeting deadlines under pressure. Advisory companies in particular may suffer from burnout, stress, and anxiety as a result of these demands.

May is Mental Health Awareness Month, which gives advisory firms a chance to emphasize relaxation and renewal. Recognizing your employees’ mental health is not just a compassionate gesture; it is a strategic business move that can improve client service, boost productivity, and encourage a healthy work-life balance for all. The stress of tax season can last long after filing deadlines.

Here are four ways your company can spend money this month encouraging healthy habits.

1. Establish boundaries to lessen stress

The excessive workload is one of the biggest causes of stress for advisory firms, particularly smaller ones. To prevent taking on more than you can manage, it’s critical to be open and honest with your team and clients about how much work you can accomplish. It’s important to take breaks during the day and refrain from checking work-related or email messages after hours.

Establishing boundaries can help you achieve a good work-life balance. Consider carefully the work hours and flexibility policies and practices of your company. Make sure your staff is inspired to prioritize self-care in any way that suits them, such as taking a vacation or an afternoon away from the office.

Encouraging a work-life balance culture will provide your team the confidence to take breaks, refuel, and participate in mental health-promoting activities. Having a mentally healthy workplace can help you make better decisions and perform better all around, which will raise the caliber of the advisory services you offer.

2. Contract out difficult jobs

To reduce the workload on your team during Mental Health Awareness Month, think about outsourcing some of your tasks. By assigning non-core tasks to outside service providers, you can give your employees more mental and physical energy and time, which promotes a happier and healthier work environment.

In addition to lowering stress, outsourcing frees up your team to concentrate on higher-value tasks that call for their knowledge and strategic thinking. Additionally, this may inspire them to take charge of their tasks and provide their clients with more interesting and engaging services.

3. Provide wellness advantages

ACCA’s Global Trends Survey 2024 indicates that 63% of companies want their employer to provide them with more assistance in managing their mental health. By implementing wellness initiatives, you can assist your advisory company in meeting the demands of a rigorous industry. These programs aim to assist accounting professionals in effectively handling the various forms of stress that they are likely to experience in their line of work.

Programs for the wellness of accounting employees may include:

• Free access to confidential counseling or referrals 
• In-home treatment services
• Mental health education
• Access to well-being apps and online tools

Creating a mental health-positive work environment makes your team feel comfortable and supported, which increases the likelihood that they will continue to be motivated and involved in providing advisory services.

4. Invest in AI-powered tax software

The accounting and tax industries have undergone a technological revolution, and advisory firms may find that AI-powered tax software changes everything. These cutting-edge instruments can improve accuracy, expedite procedures, and automate monotonous jobs.

Investing in tax software with artificial intelligence capabilities can help your advisory firm cut down on the time and labor required for tedious tasks. This reduces the possibility of errors, which can be a major source of stress for your company, while also increasing efficiency.
Your team will have more time and mental capacity to devote to serving clients and delivering strategic advisory services.

Enhance the wellbeing of your advisory firm’s employees now

Give your teams the time, space, and resources they require to strike the ideal work-life balance for themselves and to produce the highest level of output your company requires during Mental Health Awareness Month. Recall that putting mental health first benefits more than just staff members; it also contributes to the success of advisory firms like yours.