I have had recent conversations with finance staff and uncovered the following concerns 😟:
These concerns can be enumerated as follows:
Officers having to set unachievable service budgets.
A constant search for new funding sources which is the legacy of Inadequate funding models stretching back more than a decade.
Poor cash flow and treasury management approaches
Getting the basics wrong like not recording the reasons for journals
Not taking proper account of the risks an organisation faces now and in the future in terms of its staff and itself.
Poor training and understanding of financial matters by staff which leads to poor organisational decisions.
An Inadequate supply of properly qualified finance staff.
Faulty investment decisions which give rise to Inadequate financial returns
Huge individual workloads for staff
A lack of support in the workplace in terms of training and personal matters.
What are the possible solutions to these challenges?
Setting up a Peer Support group for finance officers to give them assistance and hope.
Improved personal and professional training
Relaxation and mindfulness techniques
More dedicated horizon scanning leading to better risk management approaches
Greater employment of finance apprentices to fill employment gaps.
Employment of Mental Health First Aiders to analyze staff pressures and signpost solutions
Greater responsibility of the organisation for the mental health of its staff
There needs to be a recognition that finance staff are under pressure and the organisation must take steps to look after them!
It appears to me that there is a new generation of finance officers who need professional help in doing their jobs properly.
I have done a Peer Support qualification and I have the intention of doing mental health first aid to bolster this.
Hopefully I can help but the organisation must do this itself as well.
Not doing so will be harmful because a resilient organisation needs resilient staff.
We've all got to work at making that a reality.
Never ignore the personal and problems of your people!
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