Latest Accounting News
Hot Issues
ATO reveals small business hit list to combat tax debt
What are the FBT implications of Employee Christmas Parties and Gifts?
Assess a business before you buy it
Christmas Parties and Taxi Fare/Rideshare – FBT implications.
Practitioners cautioned on ATO’s top target areas for GST
ATO to target growing businesses in latest compliance blitz
Our SG compliance results are here
Top 20 Most Watched Christmas Movies ever - pre covid
A Unique Advent Calendar
Businesses ghosting the ATO targeted in debt collection blitz
Claiming the tax-free threshold: getting it right
Aussies tired of ‘dodgy tax criminals’, warns ATO
Protect your small business by following these essential steps.
Super guarantee a focus area for ATO business debt collection
Controversial ‘Airbnb tax’ set to become law
Withholding for foreign residents: an ATO focus area
1 in 3 crypto owners confused about tax, study reveals
20 Years of Silicon Valley Trends: 2004 - 2024 Insights
ATO reveals common rental property errors from data-matching program
New SMSF expense rules: what you need to know
Government releases details on luxury car tax changes
Treasurer unveils design details for payday super
6 steps to create a mentally healthy and vibrant workplace
What are the government’s intentions with negative gearing?
Small business decries ‘unfair’ payday super changes
The Leaders Who Refused to Step Down 1939 - 2024
Time for a superannuation check-up?
Scam alert: fake ASIC branding on social media
Millions of landlords the target of expanded ATO crackdown
Articles archive
Quarter 3 July - September 2024
Quarter 2 April - June 2024
Quarter 1 January - March 2024
Quarter 4 October - December 2023
Quarter 3 July - September 2023
Quarter 2 April - June 2023
Quarter 1 January - March 2023
Quarter 4 October - December 2022
Quarter 3 July - September 2022
Quarter 2 April - June 2022
Quarter 1 January - March 2022
Quarter 4 October - December 2021
Quarter 3 July - September 2021
Quarter 2 April - June 2021
Quarter 1 January - March 2021
Quarter 4 October - December 2020
Quarter 3 July - September 2020
Quarter 2 April - June 2020
Quarter 1 January - March 2020
Quarter 4 October - December 2019
Quarter 3 July - September 2019
Quarter 2 April - June 2019
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 3 July - September 2014
Quarter 2 April - June 2014
Quarter 1 January - March 2014
Quarter 4 October - December 2013
Quarter 3 July - September 2013
Quarter 2 April - June 2013
Quarter 1 January - March 2013
Quarter 4 October - December 2012
Quarter 3 July - September 2012
Quarter 2 April - June 2012
Quarter 1 January - March 2012
Quarter 4 October - December 2011
Quarter 3 July - September 2011
Quarter 2 April - June 2011
Quarter 1 January - March 2011
Quarter 4 October - December 2010
Quarter 3 July - September 2010
Quarter 2 April - June 2010
Quarter 1 January - March 2010
Quarter 4 October - December 2009
Quarter 3 July - September 2009
Quarter 2 April - June 2009
Quarter 1 January - March 2009
Quarter 4 October - December 2008
Quarter 3 July - September 2008
Quarter 2 April - June 2008
Quarter 1 January - March 2008
Quarter 2 April - June 2007
Quarter 2 April - June 2006
Quarter 1 of 2022
Articles
Undisclosed income risks hefty asset betterment assessments
Superannuation Guarantee (SG) increases
How stress and burnout are different, and why the difference is important
Accountants ‘have important role to play’ in digital transformation
ATO launches campaign to target tax withholding on overseas royalties
ATO releases new draft guidance products impacting private trusts
GDP by country since 1800
ATO releases new guidelines to combat identity theft.
Extension in minimum drawdown rates
6 tips for small business success in 2022
‘Shot across the bow’: ATO puts professional firm profit allocations on notice
Extension of the bring-forward age up to 67
Government urged to address lingering issues with advice reforms
Vaccination rates (Dose)
Beware section 99B
ATO provides further clarity on DIN process
Unpaid client invoices placing greater pressure on SMEs
10 top global corporations since 1998
Increase in the number of SMSF members
Single Touch Payroll (STP) – Phase 2
ATO reiterates tax system incentives
How stress and burnout are different, and why the difference is important

It’s helpful to keep the distinction between burnout and stress clear so as not to burden individuals with responsibility for fixing workplace issues that require management attention, writes Dr Karen Morley.



Even before the pandemic, burnout was said to be reaching epic proportions; a third of workers reported that they felt burned out. Since the pandemic, it’s skyrocketed.


Stress helps us to respond to the challenges we face, and most people experience manageable, if higher, levels during crises. When the challenges don’t let up, though, stress goes beyond manageable levels. Given that the pandemic won’t be over any time soon, we need to become better at noticing stress, reducing overwork and increasing wellbeing to prevent chronic stress and burnout.


In 2019, the World Health Organisation recognised burnout as an official diagnosis, which is characterised by three symptoms: feelings of energy depletion or exhaustion; increased mental distance from one’s job, or feelings of negativism or cynicism related to one’s job; and reduced professional efficacy.


Often, the term “burnout” is used as if it were interchangeable with “exhaustion”, which it’s not, even if it feels like it is! The three elements interact with each other: as you feel more worn out, you have less effort to contribute, which leaves you feeling less effective, contributing to increased burnout.


Burnout applies specifically to chronic stress resulting from workplace stressors that are poorly managed. It is not an individual health problem, and it isn’t confined to any particular professional group: the term was created to highlight workplace issues so as to encourage employers to support the health and wellbeing of their workforce.


It’s helpful to keep this distinction between burnout and stress clear so as not to burden individuals with responsibility for fixing workplace issues that require management attention.


Burnout negatively affects mood, learning and memory, and that reduces ambition, aspiration and sense of worth. Overall, it interferes with engagement in work.


The solution to burnout lies in reducing overwork, promoting a more human work culture, strong proactive stress management and emphasising recovery and renewal. Workload demands need to be manageable, employees need to have a sense of control over their work, they need to be appropriately recognised for what they do, feel supported in their work and have a sense that the workplace is a fair one.


Whether or not your organisation helps or hinders these factors is a big part of the burnout equation. How you manage yourself within your context – whether supportive, unhelpful or absent – matters too.


High achievers in particular – with your high work ethic and standards – are prone to getting caught in the slipstream of overworking.


Here’s a simple four-step process – REAP – to reset yourself, reduce your experience of stress, prevent burnout and grow your resilience:


1.        Recognise


Mindfully pay attention to your state. Are you taking the time to recharge your energy regularly? Have you got the basics of wellbeing – sleep, exercise and nutrition – under control?


2.        Evaluate


What are you telling yourself about how hard you need to work, when and how frequently you take breaks, and how much you are achieving? Do you need to give yourself a break – in more ways than one? Are you spending enough time renewing your energy? Do you have the right support network?


3.        Align


Are your actions and achievements aligned with your purpose, values and goals? Remind yourself of what these are.


4.        Prime


Cut the friction from your system. Have you set up your work location and habits for success? How much of your time is spent on focused, high-quality work? What do you need to do to increase your focus?


Dr Karen Morley is an executive coach. She is also the author of “FlexAbility: How high achievers beat burnout and find freedom in an overworked world”, “Beat Gender Bias”, “Lead Like a Coach”, and “Gender-Balanced Leadership”.


 


 


Dr Karen Morley


24 February 2022


accountantsdaily.com.au




23rd-March-2022

Liability limited by a scheme approved under Professional Standards Legislation