Burnout is real in the accounting profession. In the second installation of Controller’s Guidebook, FloQast, in partnership with the University of Georgia, analyzed survey data from a diverse group of accounting professionals to understand the root causes of the burnout epidemic – specifically, how an accountant’s relationship with their technology can be a significant stressor in their professional and personal lives, the alarming impact that can have on the organization, and steps accountants can take for a more synergistic relationship with their tech stack.
FloQast’s research revealed that an accountant’s relationship with their technology matters as much as the technology itself. Relationships fall into one of three categories.
An accounting professional’s relationship with their technology doesn’t just impact their overall state of mind, but also affects crucial outcomes for the accountant and their organization. Continuing to apply an adaptation of the Maslach Burnout Inventory (MBI) — the leading measure of burnout validated by more than 35 years of research — in conjunction with new data, we discovered that burnout is lower and accuracy of work is improved for accountants who have a Synergistic relationship with their technology.
38% percent of accounting professionals with a Synergistic technology relationship have a low level of burnout – compared to only 17% of those with a Routine relationship and 7% of those with an Adversarial relationship.
Accountants with a Synergistic technology relationship had their personal life is negatively affected 1.5 fewer per year months than those with an Adversarial relationship and 1.2 fewer months than those with a Routine relationship.
Accountants with a Synergistic technology relationship reopened the books 1.4 fewer months than accountants with an Adversarial relationship and 0.7 fewer months than an accountant with Routine relationships.
Dive deeper into the study with Stefan van Duyvendijk, Accounting Operations Evangelist at FloQast, and Dee Warmath PhD, Assistant Professor and Director of the Consumer Analytics Program at the University of Georgia. Understand the difference between an accounting technology system and an accounting technology solution through unique academic measurements, and how that factors into teams’ ability to stay efficient, accurate, and avoid burnout.
The experience of burnout among accounting professionals is real and has serious implications for accountants and the organizations that employ them – including alarming potential for bookkeeping errors that could impact the bottom line of a business. The question, then, is how do we reduce burnout, repair work and life relationships, and drive performance improvements that are critical to business operations? The answer may lie with improving the relationship accountants have with their technology.
Join Stefan van Duyvendijk, Accounting Operations Evangelist at FloQast and Dee Warmath, PhD, Assistant Professor and Director of the Consumer Analytics Program at the University of Georgia, as they review FloQast’s latest report, “Controller’s Guidebook: Is Your Relationship with Technology a Solution to Burnout or a Source of Stress?,” based on a survey of hundreds of accounting professionals utilizing academic approaches to provide a quantified, in-depth and critical perspective on the current state of the accounting industry, its technology, and its professionals.
In this session, you will learn:
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