There\u2019s no denying it: CFOs are some of the most stressed executives in any organization. <\/span>They keep the company\u2019s finances at an optimal level, handle financial risks and controls, and ensure the books are always in check.<\/span><\/p>\n CFOs also play a managerial role in the finance department as they oversee its performance and mentor future finance leaders.<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span>\u00a0<\/span><\/p>\n In fact, a study by <\/span>Ganesh et al. (2018<\/span><\/a>) found that 51% of executives reported high stress levels. This was based on a survey of 827 executives who answered questions about stress.<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n With this result, it is understandable why CFOs are often under a lot of pressure to perform well, and this can lead to stress. To help CFOs manage their stress, it is important to recognize what causes it and how it can be managed.<\/span>\u00a0 In this article, we will look at some common causes of stress and provide tips for CFOs on how to manage them.<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n Here\u2019s what we\u2019ll cover:<\/span><\/strong>\u00a0<\/span><\/p>\n 1. Effects of uncontrolled stress<\/span>\u00a0<\/span><\/a><\/p>\n 2. Common sources of work stress of CFOs<\/span>\u00a0<\/span><\/a><\/p>\n 3. Why knowing these stressors matter?<\/span>\u00a0<\/span><\/a><\/p>\n <\/p>\n 4. 8 ways CFOs can manage stress<\/span>\u00a0<\/span><\/a><\/p>\n 5. How outsourcing can help\u00a0<\/span>\u00a0<\/span><\/a><\/p>\n \u00a0<\/span><\/p>\n According to the <\/span>University of Cambridge<\/span><\/a>, if stress is left unchecked and unmanaged, individuals\u2014such as finance leaders\u2014may experience these issues:<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n When stress takes over, it often manifests physically through sleep disturbances, headaches, digestive issues, and even more severe problems like high blood pressure and cardiovascular disease.<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span>\u00a0<\/span><\/p>\n On an emotional level, stress can take a significant toll as it can lead to anxiety, irritability, and depression. It can also cause individuals to feel overwhelmed, helpless, and hopeless at the same time.\u00a0<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span>\u00a0<\/span><\/p>\n In the mental aspect, stress is just as concerning. Individuals who are experiencing this usually have a hard time concentrating. A stressed finance leader, for instance, may lose focus during critical tasks.<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span>\u00a0<\/span><\/p>\n Stress can also cause noticeable shifts in behavior. Individuals may exhibit restlessness, social withdrawal, or unhealthy coping mechanisms such as excessive drinking or smoking.\u00a0<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n These changes not only impact personal well-being but may also strain relationships within the teams and organizations.<\/span>\u00a0<\/span><\/p>\n <\/p>\n \u00a0<\/span><\/p>\n By recognizing these signs early on, finance chiefs can mitigate the harmful effects, which can help them in the long run.<\/span>\u00a0<\/span><\/p>\n Being a CFO is not easy. It\u2019s a role that comes with heavy responsibilities, and <\/span>according to CFO Dive<\/span><\/a>, below are some of the biggest sources of stress for finance leaders:<\/span>\u00a0<\/span><\/p>\n \u00a0<\/p>\n CFOs often have way too much on their plates. In fact, <\/span>a survey by DataRails<\/span><\/a> revealed that 81% of CFOs believe that they endure the heaviest workload among C-suite roles.\u00a0<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span>\u00a0<\/span><\/p>\n This means they are expected to handle many different tasks and go beyond traditional financial management to include responsibilities like human resources, cybersecurity, and even customer service oversight.\u00a0<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n With the accumulation of these diverse tasks, it’s understandable that CFOs can feel overwhelmed, leaving them susceptible to stress.<\/span>\u00a0<\/span><\/p>\n \u00a0<\/p>\n Aside from having too much work to do, many CFOs still perform a significant portion of their work manually, which can be a bit time-consuming and repetitive. As a result, this can lead to burnout and stress, as well as a lack of time for other important tasks.<\/span>\u00a0<\/span><\/p>\n \u00a0<\/p>\n Another reason why CFOs are stressed out is that they have to work long hours in order to meet their deadlines and ensure that everything within the organization is running smoothly.\u00a0<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n These extended work hours can take away their precious time for their personal life, making it hard for them to spend time with family and friends.<\/span>\u00a0<\/span><\/p>\n \u00a0<\/p>\n Working closely with other top executives, like the CEO, can be a source of stress for CFOs.\u00a0<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n This is because they often have to balance their own responsibilities with those of other executives, which can be challenging when there are conflicting priorities.<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n For example, if a CEO wants to focus on growing revenue while the CFO wants to cut costs, it can create tension between the two parties.<\/span>\u00a0<\/span><\/p>\n <\/p>\n \u00a0<\/p>\n \u00a0<\/span><\/p>\n Recognizing the factors that contribute to stress is essential for organizations aiming to support their finance leaders.<\/span>\u00a0<\/span><\/p>\n \u00a0<\/p>\n CFOs play a big role in keeping the organization on track. And, if they\u2019re stressed out and overwhelmed, it affects not just them but the whole company.\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n By addressing such issues, organizations can help their finance leaders feel more supported and less burnt out.<\/span>\u00a0<\/span><\/p>\n \u00a0<\/span><\/p>\n This is especially important for companies that are growing faster, as they need to make sure that their finance leaders have the bandwidth to keep up with the pace of change.<\/span>\u00a0<\/span><\/p>\n![\"_JJF9661](\"https:\/\/www.dvphilippines.com\/hs-fs\/hubfs\/_JJF9661%20blog-1.jpg?width=1434&height=600&name=_JJF9661%20blog-1.jpg\")
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<\/span>\u00a0<\/span><\/p>\nEffects of uncontrolled stress\u00a0<\/span><\/strong><\/h2>\n
Physical Problems<\/span>\u00a0<\/span><\/h3>\n
Emotional Struggles<\/span>\u00a0<\/span><\/h3>\n
Trouble Focusing\u00a0<\/span>\u00a0<\/span><\/h3>\n
Changes in Behavior<\/span>\u00a0<\/span><\/h3>\n
\u00a0<\/span><\/h2>\n
Common sources of work stress of CFOs\u00a0<\/span><\/strong><\/h2>\n
1. <\/span>Too much work to do\u00a0<\/h3>\n
2. <\/span>Doing Tasks Manually<\/h3>\n
3. Lack of Work-Life Balance\u00a0\u00a0<\/h3>\n
4. <\/span>C-Suite Dynamics\u00a0<\/h3>\n
Read: <\/span>Building a Collaborative CEO-CFO Partnership<\/span><\/a>\u00a0<\/span><\/h3>\n
Why knowing these stressors matter?\u00a0<\/span><\/strong><\/h2>\n