Are you too young to worry about work-life balance?

If you’re new to the workplace, there’s perhaps an expectation that you should be clocking in early, enduring late nights and taking lunches at your desk.

Why?

To prove your worth, with the expectation that the ‘reward’ of downtime will duly come as you move up the ranks.

While many young guns (and even seasoned veterans) are happy to jump at the opportunity to prove themselves with additional work, it begs the question: Do you need to sacrifice your personal life for the sake of your career, or is that an antiquated notion?

‘Personal hours’ and ‘work hours’ can become increasingly blurred in a new role, especially when you’re trying to make headway in your career. According to a report by Randstad, over 51 per cent of workers are now expected to answer work calls outside traditional work hours. This expectation also extends to annual leave, where 41 per cent of workers believe they should be available despite being on holiday.

The keys to resilience

Some people experience problems or trauma and immediately descend into despair and immobility. Others, on the other hand, may undergo similar trials and are able to dust themselves off and continue, often with greater emotional fortitude than before.

Why are certain people more emotionally resilient than others? How can people build resilience? These are questions that psychologists have explored for decades.

Resilience is the ability to cope with challenges. It doesn’t mean avoiding or preventing stressful situations. Rather, it involves an acceptance that adversity is sometimes inevitable, an ability to handle personal trials with equanimity, and a determination to grow through the experience.

What techniques can you employ to build resilience? The following ideas may help.

What does work-life balance mean to you?

When you’re a newcomer to the workplace, there’s sometimes an expectation that you should clock in early, endure late nights and have lunch at your desk.

Why?

To demonstrate your worth with an unspoken promise that the ‘reward’ of downtime will duly come as you move up the ranks.

While many young guns (and even seasoned veterans) are happy to jump at the opportunity to prove themselves by undertaking additional work, it begs the question: Do you need to sacrifice your personal life for the sake of your career? Or is that an antiquated notion?

4 tips to help you avoid becoming a workaholic

It’s only natural to want to make a great impression at work, particularly when your career is just beginning. But you’ll only sabotage your future prospects if you burn the candle at both ends. Here are four tips for getting your work done on time while still maintaining a good work-life balance.

1. Time management

The 2014 Australian Work and Life Index revealed that more than half of full-time workers feel rushed at work. For accounting and tax professionals, this can become a major issue during the busy end-of-financial-year season.

You can avoid this trap by creating a prioritised task list each morning. This will make you better at setting goals and priorities, and you’ll also feel the buzz of accomplishment each time you tick off an item.

2. Delegation

Taking on as much as possible might earn you points in the short term, but it’s also the surest way to burn yourself out. The delegation goes hand in hand with good time management – it’s hard to achieve one without the other.

Start by looking at your key strengths. If you’re good at leadership, ask if you can do more project-management tasks, leaving the number crunching to others. And don’t be shy about seeking help – asking questions shows you are willing to learn and improve.

3. Set boundaries

The Work and Life Index also found that nearly a third of full-time employees regularly sacrifice personal time for work duties. There will be periods when the team has to clock up extra hours to meet a tight deadline, but if you’re always the last person to leave the office, you may be putting your health and relationships at risk. Remember that a good career isn’t just about a good salary – it should also give you time to enjoy the rewards.

4. Switch off

Just as your phone’s battery needs to be recharged regularly, so do your own. After you leave work, let calls go to voicemail and try not to check your email until the next day unless you’re monitoring an urgent issue. Downtime at work is also very important. You can keep alert and productive by spending at least 10 minutes every hour away from your desk – preferably outdoors where you can get some exercise and sunlight.

Your life shouldn’t be all work and no play. Maintaining a good work-life balance is simply good for your health – and your career.

Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about StudentMembership.

How to prepare for your first tax season

Staring down the barrel of your first tax season? Avoid the anxiety from the get-go with these top tips for getting through what’s likely to be the most demanding period of your work year.

Find a time-management system that works for you

Work out what works for you when it comes to time-management technology. That could be an app on your phone or tablet (Trello and Evernote are two popular options), your trusty Outlook or Gmail calendar, or even an old-school paper wall planner. Whatever method you choose, make sure you use it religiously as you won’t be in a position to squander your most precious resource. Read our recent post about the productivity secrets to success. 

Maintain a work-life balance

This one seems counter-intuitive until you accept that even high-performance engines can’t run at top speed for too long without overheating. Sure, minimise any unnecessary distractions during your busy periods, but make sure you also allow yourself some time to recharge. Schedule a run in the morning or dinner with your partner at night, or just get out of the office and go sit in the park for half an hour at lunchtime. Read about how maintaining a healthy work-life balance can actually help you in your career. 

Learn to say “no”

If someone – a client, colleague or even your supervisor – asks you take on something unimportant or non-urgent, simply say “no”. Or, more diplomatically, palm them off with a statement like, “I’d love to help you out with that, but would you mind if we came back to this down the track? It's a busy time of year and I’m not confident I’d be able to devote the time and attention I’d like to it.”

Get up to speed beforehand

You can think of your first tax season as a very long, real-world exam. And what do you do if you want to do well in exams? You study. In this instance, you want to be up to date on any tax changes well before your inbox starts resembling Mount Everest. One way to keep on top of things is to check out The Tax Institute's Taxation in Australia journal, published 11 times a year.  Along with other useful resource tools, the journal is available to the Institute members online, in hard copy and even as an app.

Keep these tips in mind when entering tax season and not only will you survive, you'll come out a better and more valuable employee, ready to take on whatever else the industry throws at you.

Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership. 

Is work-life balance really needed so early in your career?

As a newcomer to the workplace, there’s perhaps an expectation that you should be clocking in early, enduring late nights and taking lunches at your desk. Why? To prove your worth on the proviso that the ‘reward’ of downtime will duly come as you move up the ranks.

While many young guns (and even seasoned veterans) are happy to jump at the opportunity to prove themselves with additional work, it begs the question: do you need to sacrifice your personal life for the sake of your career, or is that an antiquated notion?

‘Personal hours’ and ‘work hours’ can become increasingly blurred in a new role, especially when you are trying to make headway. According to a report issued by Randstad, over 51 per cent of workers are now expected to answer work calls outside of traditional work hours. This expectation also extends to annual leave, where 41 per cent of workers believe they should be available despite their holiday status.

But does being available and ‘on call’ make you a better worker?

The same report found that if there was a greater expectation on employees to work beyond traditional hours, the likelihood of them also dealing with personal matters at work would increase. It also suggested that the difference between strictly work and personal matters was now obscured because of the intrusiveness of technology like social media. So work-life balance (or lack thereof) could actually interfere with your working productivity more than you might think.

The case for work-life balance

Contrary to the work ethos that many seniors expect of young recruits, according to a recent study by HR Magazine, two in five junior-level employees actually believe that maintaining a healthy work-life balance helps them work more productively.

While this doesn’t necessarily mean set-in-stone hours should be the only option, it does encourage the belief that your routine work hours should comfortably and healthily fit into your overall ‘life’ schedule – no matter which rung of the career ladder you are on.

According to the same study, a larger portion of junior workers would prefer to mix their personal and work lives, while this was only true across a substantially smaller cross-section of senior managers and directors. So while you may be interested in networking and consider this an out-of-hours activity, such a mantra might be difficult to encourage among senior employees who consider this activity to be an additional ‘in-hours’ operation.

The solution

Work-life balance is about creating and maintaining supportive and healthy work environments, which should in turn strengthen employee retention as well as their productivity on the job. While for younger employees this might include activities such as networking, older employees are interested in seeing quantitative results. As with most things in life, moderation is key, so it’s a balancing act between what is expected of you as a new recruit and which tactics will most impress your new employers.

Work-life balance is the first step to having a tax career that soars. While certain parts of the year will call for overtime, it’s important to keep it all in perspective. And if you ever find yourself feeling overwhelmed, be sure to communicate your situation to your manager.


Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership.

Five ways to impress your boss this EOFY

If you’re an accountant, you’ll know that nothing can accelerate stress levels quite like end of financial year (EOFY). Whether you’re tasked with processing countless tax returns or reconciling accounts, the weeks preceding 30 June can be fraught with professional and administrative challenges. However, the end of financial year also offers a serious opportunity to prove your ability to perform under pressure and establish yourself as the firm’s rising star. Here are five ways to impress your boss this EOFY.

Don’t be afraid to take initiative

If you’re facing back-to-back deadlines, it’s tempting to take a reactive approach to work. However, taking the time to identify a scheduling clash before it happens or fixing a mistake before it creates bigger problems can show your manager you’re unwilling to simply go through the motions.

Put in extra time

High-stress periods often call for employees to go above and beyond. Although work-life balance is essential, preparation for EOFY often involves the kind of mounting workload that warrants extra hours. Whether it’s arriving at the office half an hour early or staying back late, proving that you’re willing to be flexible when your job demands it can be a testament to your work ethic and level of commitment.

Dream up a system that’s more efficient

Sometimes, small changes to workplace systems can spell big gains in terms of productivity, efficiency and your ability to get things done. Whether it’s coming up with a new way to enter data or a filing method that improves client-record accuracy, spearheading a system that’s more efficient is a sign you can think outside the box. Don’t be afraid to schedule a meeting to communicate your ideas to your boss. Even if your scheme isn’t implemented, giving it your best shot can be rewarding in itself.

Offer to lend a hand

When your team mates are struggling with their workloads or dealing with a client issue that’s come out of nowhere, it’s wise to extend a helping hand. High-pressure periods can send stress levels through the roof, so putting your own interests aside to be a supportive colleague can make a world of difference.

Show extra attention to detail

It’s no secret that long days at your desk can see concentration levels wane. However, paying extra attention to the task at hand – even if it means giving yourself more time to complete it – can deepen your manager’s faith in you and save your firm from costly mistakes.

From taking initiative to helping struggling colleagues, EOFY can be a great opportunity for your skills and talents to shine. How do you go about upping your performance in the lead-up to 30 June?


Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership.

Four tips to help you avoid becoming a workaholic

It’s only natural to want to make a great impression at work, particularly when your career is just beginning. But you’ll only sabotage your future prospects if you burn the candle at both ends. Here are four tips for getting your work done on time while still maintaining a good work-life balance.

1. Time management

The 2014 Australian Work and Life Index revealed that more than half of full-time workers feel rushed at work. For accounting and tax professionals, this can become a major issue during the busy end-of-financial-year season.

You can avoid this trap by creating a prioritised task list each morning. This will make you better at setting goals and priorities, and you’ll also feel the buzz of accomplishment each time you tick off an item.

2. Delegation

Taking on as much as possible might earn you points in the short term, but it’s also the surest way to burn yourself out. Delegation goes hand in hand with good time management – it’s hard to achieve one without the other.

Start by looking at your key strengths. If you’re good at leadership, ask if you can do more project-management tasks, leaving the number crunching to others. And don’t be shy about seeking help – asking questions shows you are willing to learn and improve.

3. Set boundaries

The Work and Life Index also found that nearly a third of full-time employees regularly sacrifice personal time for work duties. There will be periods when the team has to clock up extra hours to meet a tight deadline, but if you’re always the last person to leave the office, you may be putting your health and relationships at risk. Remember that a good career isn’t just about a good salary – it should also give you time to enjoy the rewards.

4. Switch off

Just as your phone’s battery needs to be recharged regularly, so do your own. After you leave work, let calls go to voicemail and try not to check your email until the next day unless you’re monitoring an urgent issue. Downtime at work is also very important. You can keep alert and productive by spending at least 10 minutes every hour away from your desk – preferably outdoors where you can get some exercise and sunlight.

Your life shouldn’t be all work and no play. Maintaining a good work-life balance is simply good for your health – and your career.


Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership.