Finance professionals are currently grappling with an overwhelming amount of change in the workplace, resulting in a significant increase in fatigue. This fatigue poses a threat to business performance and the overall well-being of employees, according to experts at Gartner, Inc.
Speaking at the Gartner CFO & Finance Executive Conference in Sydney, Hilary Richards, vice president analyst in the Gartner Finance practice, highlighted the negative impact of change fatigue on employees. She emphasized that change-fatigued employees are less likely to stay with the company, are less responsive, and exert less effort in their roles.
In order to address this issue, Gartner experts advise finance leaders to not only consider the number of changes employees are experiencing, but also to take into account the level of disruption caused by these changes. This disruption, which refers to the personal impact on employees and interference with their day-to-day tasks and performance, is identified as the most significant factor contributing to change fatigue.
The experts point out three key drivers of change fatigue that finance leaders should consider when prioritising projects:
1. Day-To-Day Changes Compound:
According to Gartner, day-to-day changes such as alterations in management, team composition, and job responsibilities are more fatiguing to employees compared to large-scale organizational changes. These smaller changes can accumulate and overwhelm employees, leading to increased change fatigue.
2. Relying Exclusively on Top-Down Change Management Disempowers Employees:
Many organisations are urged to adopt a communication plan that encourages open dialogue with employees, as opposed to dictating how changes should be implemented in their work. This approach aims to address and alleviate employees’ fears and concerns.
3. Reactive Responses to Change Fatigue Lead to Burnout:
Instead of waiting until employees reach a point of burnout, Gartner advises finance leaders to proactively support their staff in managing the impact of ongoing changes. This can help prevent burnout and turnover among employees.
Hilary Richards further emphasized the significant impact of exertion on change fatigue, highlighting that employees who constantly have to cancel personal plans or work outside of regular hours due to workplace changes are more likely to become fatigued.
In addition to reprioritizing project portfolios, Gartner experts recommend that finance leaders develop a methodology to assess the level of change fatigue in their staff and allocate new projects and initiatives accordingly.
These insights were presented at the CFO & Finance Executive Conference in Sydney, and Gartner is also providing additional guidance on addressing growth challenges, inflation, talent scarcity, and global supply constraints during the conference. Finance professionals interested in staying updated on expert insights and trends shaping the finance function can follow news and updates from the conferences using the hashtag #GartnerFinance.
Gartner’s Finance practice aims to provide support to senior finance executives in meeting their top priorities. By offering a wealth of resources and insights, Gartner strives to help clients achieve success and drive impactful initiatives that span across finance functions. To learn more about Gartner’s offerings for finance leaders, interested individuals can visit their website and follow Gartner for Finance on LinkedIn.
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