Juggling work and personal responsibilities is the greatest source of workplace stress, according to a new survey of chief financial officers (CFOs).
Nearly half (41 percent) said they were most stressed trying to achieve a balance between their professional and personal lives. More than one-quarter (28 percent) said that office politics or conflicts with coworkers was their greatest source of workplace stress.
The survey, developed by Accounttemps, a staffing service for temporary accounting, finance and bookkeeping professionals, polled 1,400 CFOs from a sample of U.S. companies with 20 or more employees about what they considered to be the greatest source of stress for accounting and finance professionals.
Sixteen percent cited keeping current with changing accounting and finance regulations, while less than 10 percent said increased workloads (9 percent) and a challenging commute (4 percent).
Workplace stress, of course, is universal and comes at a great personal and business cost. A 1992 United Nations report called stress the “20th century epidemic.” Four years later, a survey by the World Health Organization (WHO) pointed at stress as a “worldwide epidemic.” The American Institute of Stress estimates workplace stress costs United States industry more than $920 billion annually. Other stressful stats:
· 40 percent of job turnover in the U.S. is stress-related.
· Between 60 percent and 80 percent of accidents on the job are related to stress and 51 percent of employees report that job stress reduces their productivity.
Another recent survey conducted by Hiscox, a business insurer, found that 43 percent of small business owners are feeling more stressed than they did a year ago, according to a recent survey conducted by Hiscox, a business insurer.
More than half (54 percent) said they are most stressed about losing their business, while 52 percent said they were stressed over repaying personal debt. Fifty-one percent stress over losing clients. Other sources of workplace stress include bringing in new business (49 percent), their own health and wellbeing (41 percent) and being on call 24/7 (38 percent).
How is this workplace stress manifesting itself? More than three-in-ten reported fatigue, back pain, or neck pain, while 29 percent said they have anxious thoughts. Twenty-two percent reported increased irritability.
But a majority of these stressed small business owners seem to feel they are in control. Seventy-six percent try to manage a good work/life balance. Sixty-nine percent feel mentally prepared to tackle business challenges for the year agead, and 59 percent give priority to their physical health and have an annual check-up.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.