Benchmarking Employee Well-Being in the Advisory Community

Since the onset of the pandemic, accountants and accountants have faced unprecedented pressures that have affected their mental well-being. From lockdown changes to navigating new government grants to the relentless pressures that come with supporting small business clients, the advisory community has struggled. As a result, the conversation about partner and small business wellness is changing, and it’s all for the better.

Daniel spitty and Tom boyd they are part of the team behind Everperform, an app that helps consultants improve employee productivity, relationships, and well-being by using real-world data and information. We recently invited the duo to join Xero for a virtual webinar where we discussed some of the best practice tips for the well-being of consultants and their employees.

Along with Daniel and Tom, we also invited Amanda kenafake from Tynan Power to the panel. As CEO of a wellness-focused accounting firm, Amanda shared her learnings and advice from the years she spent creating an environment where people want to work and perform at their best. So to help you do the same, read on to learn more about the key takeaways, tips, and ideas from our conversation.

Remember, well-being and performance are interdependent

Everperform recently created the Accounting and professional services performance index, comprising more than 350,000 data points from more than 50 companies and 2,500 industry professionals to provide real-time measurements on multiple dimensions of performance. These include energy, recovery, balance, self-care, growth, and impact. Using low-frequency and high-frequency methods to capture the sentiment of leaders and employees, the index can determine the impact of one metric on another, creating a holistic view of well-being in the advisory community.

Daniel, CEO of Everperform, explains: “The measure of a good advisor is no longer just about productivity, amortization and billable hours.” Instead, the link between performance and well-being is becoming more tangible. He notes that the index data validates specific industry trends, which means we now have a tool to proactively track and address emerging issues.

“For example, we know that seasonal impacts on well-being are real (particularly in the run-up to the end of the financial year). However, with sufficient foresight and awareness, there is a chance to prevent these trends from occurring on a cyclical basis. We hope to see the results of this in fiscal year 22, ”says Daniel.

Don’t be afraid to use data to support your wellness strategy

It is said that you cannot improve what you cannot measure. And that’s exactly why Tom Boyd, Everperform’s wellness growth leader, was clear about the value of regularly capturing data, especially when it comes to employee sentiment. He explains that most business leaders try to make a positive impact on their companies, but frankly, they don’t know where to start or how to measure success.

“The way our index leverages data is with the ability to reflect real-time weekly information from Everperform customers. What’s more, we can use this data to respond to what we are seeing more broadly in the industry, ”says Tom. This insight enables the identification of areas where the counseling community is succeeding in its six wellness metrics; and where you can improve. What is equally crucial is that, at the individual customer level, they can review the changes made by different organizations and the impact they have on their employees, creating even more evidence to support the value of wellness practices.

Power Tynan results compared to the Everperform performance index.

Wellness is a marathon, not a sprint

Amanda from Power Tynan has been an industry leader – “Walking by Example,” as she describes it – in creating an environment that puts the well-being of employees first. When asked what has been successful in her company, Amanda explains: “There is no silver bullet. Instead, there are a lot of things we do to make sure that each individual feels like they can do their best on a daily basis. “And these efforts are being recognized. This year, Amanda was a finalist in the prestigious Women in Finance Awards, while Power Tynan was recognized as 2020 Toowoomba Chamber of Commerce Preferred Employer.

As for the employee wellness strategies that have had the most impact, Amanda lists a few: “We use ‘flex time’ to help employees deal with other commitments if necessary. They can also set their own hours, as long as the work is getting done and the clients are not disappointed. We have also implemented ‘recharge days’ to allow employees to rest and recover, ”he says. Most importantly, adds Amanda, “you need to make sure that company leaders live and breathe by example. They should be doing the work, not just talking about it. “

These examples and insights show that a wellness strategy doesn’t have to be complicated. Instead, it starts with incremental, top-down changes to make a meaningful difference across the organization. Combine that with practical knowledge, like the ones Daniel and Tom shared, and you’re on your way to success. Because, after all, “if we take care of our people, they take care of the customers who, in turn, take care of the business,” says Amanda.

To learn more about Everperform and its wellness-based performance framework, visit their website. If you are a consultant who wants to help your clients and yourself with mental well-being, check this out Xero and Beyond Blue Course.

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