A few months during the financial year, the accounting world suffers from hysteria. Well, “suffers” might be a too strong word, but the chaos and the inhibitions that overpower the professionals could be referred to that way. The firms are swamped with requests as the physical or digital files keep piling and deadlines loom large. This period is often referred to as the busy season.
The busy season can be challenging for everyone involved in the profession. Due to the increased volume of workload, most accountants end up working longer hours and even on weekends. This leaves even the most seasoned professionals jaded. “Busy season Saturdays” is a common methodology where accountants work through the Saturdays. In some firms or individual practices, it is alternate Saturdays, for others, it’s all of them.
As the tax season in the US continues, the internet has been taken by storm on a crucial debate – does busy season Saturday hurt productivity? The question also arises if it is, at all, needed or if it’s just a traditional practice that the accounting fraternity continues to follow.
In this article, Finsmart Accounting – globally trusted for outsourced accounting services – will aim to focus on the key aspects of busy season Saturdays and measure the pros and cons.
What do the numbers say?
A recent survey by Accounting Today found that 34% of accounting firms will need their staff to work on Saturdays, during this busy season. Another survey by Slack found that about 37% of employees are working outside of their standard hours weekly and about 54% of these accountants say they do so because they feel pressured to and not because they choose to. Alarming, isn’t it?
The same study also found that the employees who feel compelled to work at odd hours (late night or early morning) showcase 20% lesser productivity than those who log off during standard hours. This set of employees also report 2.1 times greater work-related stress, 1.7 times lower satisfaction towards their working environment, and 2 times more burnout.
Now the question arises, busy season Saturday at what cost?
Pros of Busy season Saturdays:
The practice of busy season Saturdays has continued for decades in the accounting field. While most modern-day firms and individuals disagree with the fact that it has any positive outcome, the supporters of this school of thought have a few points to support why working on Saturdays helps the busy season:
– More flexibility for clients: The argument goes that during the maddening tax season, many clients prefer Saturdays for meeting with the accountants. As they work on their busy weekly schedules, it gives them the flexibility to meet the client’s needs.
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– Extended availability: Working on Saturdays extends the availability of accounting services and accommodates clients’ needs better. It is also argued that this extended availability enhances the firm’s reputation.
– Reduced weekday workload: An additional day to work in the week also means that the accountants/tax preparers have more time to catch up on their weekly work and meet the deadlines better.
– Increased revenue for the firm: Extended hours are often believed to be equivalent to better productivity. Working on Saturdays can potentially help increase revenue for accounting firms by adding more billable hours and serving more clients.
– Better client service: Offering Saturdays as an additional day of work, especially during the busy season, showcases the firm’s commitment to being responsive to the client’s requirements, enhancing overall satisfaction and retention.
Now that you have some idea of Busy Season Saturdays pros, let’s learn about the drawbacks of Busy Season Saturdays even though they mean more profits.
Cons of busy season Saturdays:
The busy season is not just about meeting deadlines, it is also about remaining productive, maintaining accuracy, and most importantly, keeping the sanity intact to ensure there is value in the work delivered.
Despite the arguments in favor of busy season Saturdays, there are several reasons why it could be causing immense harm to the accountants. Let us check them out:
– Reduces motivation to work: Blake Oliver, in his recent article on Accounting Today, points out that when the employees need to be in the office on Saturday whether or not they have finished their tasks, they tend to complete their jobs on Saturday. However, these tasks could have been easily completed within the work week. This could be detrimental to the mindset of the high performers who know well that they do not need to be in the office.
– Increased burnout: Busy seasons need the employees’ optimum focus and concentration. Working on Saturdays, during the already hectic times, can lead to a higher risk of burnout, exhaustion, with a reduced sense of accomplishment. The long hours, high workload, and pressure to meet deadlines almost make employees feel like they have no time left for the personal aspect of life. All of this results in decreased productivity and job satisfaction, and high turnover rates, sometimes leading to their decision to quit.
– Impact on personal relationships: This might be a less-talked-about aspect, but extended work hours on Saturdays can strain relationships outside work. The employees, anyway, get less time to spend with families and friends during this season. Working Saturdays just make it worse. The unpredictability and long hours may lead to failed commitments to social activities and family events, leading to further stress.
– Client fatigue: Unlike the popular belief that working Saturdays helps meet client targets better, it is important to understand that after working a long week, the clients are fatigued too. On an average day, Saturday is the time when people relax and recharge. If clients need to meet the accountants on a Saturday, it also leads to client fatigue. This is when the chances of errors in the numbers increase.
– Difficulty in recruitment and retention: Accounting firms need to realize that the times have changed and so has the workforce’s mentality. The modern-day workforce is highly focused on maintaining a balance between the personal and professional, no matter how much they love their jobs. Having mandatory Saturdays during the busy season creates challenges in attracting top talent, negatively impacting the firm’s image as demanding and inflexible. Even if the firms end up getting great candidates, they will witness a high attrition rate.
Read on to discover tips for keeping employees motivated during the busy season!
Tips to keep employee morale high during the busy season:
– Prioritize tasks effectively: Being swamped with work during the busy season is understandable. However, it is important to chalk out a plan on what needs to be addressed first. This responsibility lies with both the accountants/tax preparers as well as the firm leaders. Claiming everything as “urgent” and “on priority” needs to be stopped.
– Be realistic about the amount of work your firm can take: There’s nothing wrong with chasing higher billable hours, but that should not tax the workforce. As a firm leader, it is important to know your employees’ strengths and weaknesses. It can be tempting to say yes to anyone who wants your services, but it is important to step back and say no. Remember, there are only so many hours, and making your team overwork doesn’t help achieve your goals.
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– Collaborate and delegate: The season can be hectic for everyone in the fraternity and it can help sail through only when we seek the help we need. It is important to work as a team. The accounting firm leaders must foster a collaborative environment, where communication is prioritized. Delegate tasks wherever possible and leverage the strengths of each team member.
– Follow a proper strategy: You know your firm, employees, and clients best. Build a strategy that works for everyone without creating additional pressure. For example, many firms put most of their clients’ tax returns on extension. Use workflow software that ensures deadlines aren’t missed. Reduce the need for manual tasks and switch to automation. Most importantly, plan for the busy season in advance. See if you need additional help. In that case, you can hire seasonal employees or even outsource your taxation to outsourced accounting firms like Finsmart Accounting where they have a team of experts equipped to handle jobs like this.
Busy Season Saturdays: Endnote
Each accounting firm is different and so should be the way firms handle the immense pressure that busy seasons pose. Although there are many arguments in favor of busy season Saturdays, it is important to make a decision based on two things – does a working Saturday make a huge difference to your business? If yes, is the cost that it comes with worth it?
To make your tax season easier, outsource your taxation with Finsmart Accounting. For more details, write to us at connect@finsmartaccounting.com.
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Director Growth Strategy & Alliance
Maanoj Shah is a finance and outsourcing expert with strong Business Strategy and Scaling-up experience. Over the last 20 years, he has incubated multiple businesses and helped build global enterprises in verticals as diversified as hospitality, technology, and healthcare.
