Accountants Are Working to the Point of Exhaustion
Accountants and other finance professionals world over are working to the point of exhaustion putting an average of 50 hours weekly primarily due to companies which are either understaffed or lacking in resources.
A survey was carried out by Chartered Institute of Management Accountants which surprisingly found this trend in their own offices and establishments. It revealed that the American are putting the highest average of 50 hours per week, the South-East Asians are the second with an average of 48 and the rest averaged 45 hours a week. The survey attributed this trend also to added responsibility and work pressure.
The recession period is dwindling to the past and the economy is again on a sound track but the employment cuts made during the downturn has not be compensated or enriched again to the days before the recession.
Some time back, Russell Hobby, Associate Director, Hay Group had said that companies have failed to rectify the debt they had incurred from the employees for their loyalty during the tough recession time.
Currently, USA is exhibiting bonus rewards to an average of 19% to the finance professional. Hong Kong is the second with bonus distribution worth 8-15% of the annual salary. UK had been modest in such measures by giving only 4% bonus. The salary and related bonus, however, declined in South Africa and Ireland.
Executive director of brand, profile and marketing of CIMA, Ray Perry summarized the finding of survey and said that economies all around the world are on a fast recovery track but organizations are complacent of added responsibility and work pressure meted out to the employees. He said that satisfaction of employees was of paramount importance to retain key manpower and efficiency and that the employers should be creative in such matters..