Podcast
Research: The Burnout Crisis in Accounting Is a Threat to the Profession
In the fast-paced world of finance, burnout has become an alarming threat to accountants, their teams, their businesses, and the accounting profession itself.
FloQast’s Controller’s Guidebook series sheds light on the pervasive issue, revealing that high levels of burnout are not only forcing accounting teams to reopen their books more frequently but also pushing professionals out of the industry altogether.
According to the Controller’s Guidebook series, teams grappling with high burnout are compelled to revisit their books nearly four times a year — significantly more than what should be deemed standard practice. This staggering statistic underscores the gravity of the burnout crisis within the accounting community.
In a recent episode of Blood, Sweat & Balance Sheets, Mike and Stefan delve into the findings of FloQast’s Controller’s Guidebook series. They discuss the numerous and complex challenges posed by burnout, exploring its impact on accounting teams, the alarming number of accountants contemplating leaving the profession, and the crucial role technology must play in mitigating these challenges.
The burnout epidemic not only affects the efficiency and accuracy of accounting teams but also directly threatens the profession’s sustainability. As Mike and Stefan discuss, the industry is witnessing a decline in the number of accountants entering the workforce, creating a concerning scenario for the future.
Check out the latest episode of Blood, Sweat & Balance Sheets wherever you get your podcasts today, and stand by for monthly content featuring real accounting leaders, industry experts, and more.
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