CPA Burnout

Welcome to CPA-land. Deadlines, deadlines, deadlines. Quarter end & Year end for our audit friends. 3/15, 4/15, 9/15, 10/15 (& this year 2/15) for our tax friends. Not to mention deadlines and accountabilities for other service lines. But where does it all lead?

According to a recent report on PRNewswire, the public accounting industry is facing an epidemic of burnout, with statistics revealing that 68% of accountants are experiencing high levels of stress and fatigue. 😓

With the ongoing accountant shortage, the pressure on professionals is more intense than ever. 📈 The shortage of accountants only amplifies the problem, forcing many to take on heavy workloads, leading to exhaustion and decreased job satisfaction. 😞

There are several factors that contribute to CPA burnout, including:

❗Long hours and tight deadlines: Public accountants often work long hours, especially during busy season(s). The shortage of future CPAs coming out of colleges doesn’t help this. This can lead to physical and emotional exhaustion.

❗High-pressure work environment: Given the nature of client service, public accountants have a lot of accountabilities – internal and external. CPAs often have to deal with difficult clients and tight deadlines. Not to mention the inherent stress of dealing with internal factors while forging a career.

❗ Lack of work-life balance: Long work hours can make it difficult to have a healthy work-life balance. This can lead to burnout and other mental health problems.

So what to do? Let’s look at some ideas to proactively address the problem.

💡Set realistic expectations: It’s important to set realistic expectations for yourself and your team. Don’t try to do too much at once and be willing to ask for help when you need it.

💡Take breaks: It’s important to take breaks throughout the day, even if it’s just for a few minutes. Get up and move around or take a few minutes to relax and clear your head.

💡 Delegate tasks: If possible, delegate tasks to other members of your team. This will free up your time so that you can focus on the most important things.

💡Take care of yourself: It’s important to take care of your physical and mental health. Make sure to get enough sleep, eat healthy foods, and exercise regularly. (Read this one again)

💡Communicate with the Senior Managers, Partners & team members about scheduling & workload proactively.

What are we doing here? We are starting with addressing the mindset and then moving forward with a plan of action.

If you are experiencing CPA burnout, it may be time to reach out for help. Talk to your career counselor/mentor, a trusted colleague, or a mental health professional. There is no shame in asking for help, and it is the best way to prevent burnout from having serious consequences. Just remember, you are not alone in this.

#cpa #cpacareers #careercoach