In Q1, 2021, we are looking at the importance of happiness in the workplace.
With employee wellbeing a hot topic on business agendas, we have conducted research into accountancy employers and employees’ thoughts and views around happiness in the workplace.
In our efforts to understand what the accountancy industry thinks about employee wellbeing, we asked accountancy employees to rate their thoughts on 16 statements related to how the circumstances of 2020 have influenced their view on happiness in the workplace.
Our data was collected anonymously from accountancy employees across the United Kingdom.
Is wellbeing important to accountancy employees?
Whilst employees’ wellness and wellbeing were already high on many organisations’ agenda, 2020 pushed these issues into even sharper focus.
Traditional motivational factors such as salaries and benefits remain important; however, issues such as remote working and flexible working hours have come to the fore due to the COVID 19 pandemic.
So, how have these factors influenced the thoughts of employees in the accountancy sector? Has the pandemic changed our traditional working practices for good? And, if it has, how has this impacted the views of employees?
What the results told us.
We surveyed accountants on all things related to their happiness and wellbeing at work. Our survey focused on gaining thoughts and views on factors such as a company’s core values, remote working, morale, recruitment, management, salaries, and benefits.
With the enforced changes brought on by the COVID pandemic of 2020 and the subtle, but ongoing shifts in employee welfare, we were keen to understand what accountants feel are influencing their choice of employer and happiness in the workplace.
Interestingly, we saw common themes concerning wellbeing at work.
Two out of every three accountants surveyed said that they would be more likely to work for a business with a clear and effective employee wellbeing strategy—less than half of those surveyed, prioritised salary over wellbeing.
In response to the subject of remote working, almost half of the accountants surveyed agreed that relationships with their managers had improved due to remote working with less than one in three reporting a deterioration.
Notably, over 50% of respondents agreed that poor communication from management was a prime reason for seeking alternative employment.
You can see our analysis of the full set of results here.
So what does it all mean?
There appears little doubt that happiness and wellbeing at work are essential to accountants. So essential, that they are prioritised over salary by half of those surveyed.
Therefore, accountancy businesses must ensure that they have employee wellbeing strategies in place if they are to be competitive in their search for top talent. Failure to demonstrate and deliver effective wellbeing strategies will put accountancy firms at a distinct disadvantage.
Reassuringly for accountants, our survey results from accountancy businesses showed that most of those surveyed recognised employee wellbeing as a strategic priority.
Changes in working practices driven by the pandemic appear to positively impact employee wellbeing in terms of management, communication, and relationships. Accountancy businesses need to harness these positives and exploit them for the benefit of their employees’ wellbeing.
Results in terms of productivity will undoubtedly become evident in those accountancy businesses that embrace the impact of wellbeing.
For full survey results, please follow the links below;
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