Singaporean finance heads trying to combat stress this holiday season

While senior finance leaders are actively crafting and implementing strategies to lessen their employees’ stress levels, a whopping 95% of Chief Financial Officers (CFOs) deem their own role in financial services to be stressful.

It’s not been a very merry holiday season for those working in the finance sector.

A new study unveiled by recruitment firm Robert Half has revealed that Singaporean CFOs and finance leaders are rigorously implementing initiatives to enable their employees to beat workplace stress.

It’s not only employees who are feeling stressed and burnt out.

According to the study, 95% of CFOs find their own job in financial services to be stressful.

Sixty five percent of CFOs cited that the long working hours needed in Singapore’s bustling financial services sector contribute the most to workplace stress, followed by steep workloads (62%), and a lack of work-life balance (47%).

Hearteningly, 92% of Singaporean CFOs are actively attempting to lessen employees’ workplace stress, with 47% of them promoting a teamwork based setting to help employees balance their high workloads.

Job roles and duties are being redesigned by 43% of CFOs, while 40% promote team-building activities and celebratory events.

“It is encouraging to see the majority of Singaporean business leaders implementing initiatives to combat office stress. Employees who are less strained in their job tend to be more productive and produce better results, leading to a positive impact on their company’s overall performance,” said Matthieu Imbert-Bouchard, Managing Director at Robert Half Singapore.

“With looming deadlines, financial statements and overlapping priorities, this time of year is especially stressful for financial services professionals, and finance leaders who take action to reduce their employees’ stress levels will likely see a high return on their investment on their actions.”

The research also showed that 31% engage the services of additional temporary staff and 14% hire additional permanent employees with the goal of decreasing and preventing workplace stress.

Singaporean CFOs were asked: “Which initiatives has your company implemented to reduce and prevent workplace stress?”

Promoting a teamwork based environment

47%

Review/restructure job functions and tasks

43%

Encourage team-building activities/celebratory events

40%

Provide flexible working/telecommuting options

36%

Encourage employees to take time off

32%

Hire additional temporary/interim staff

31%

Hire additional permanent staff

14%

The annual study polled 100 CFOs in the financial services industry in Singapore.

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