employee motivation in finance: what does an engaged team look like?

employee motivation in finance: what does an engaged team look like?

Long hours, stringent regulations, and high stress make motivation a persistent challenge for finance professionals. As a result, burnout and turnover rates continue to rise. While companies recognize the value of a motivated workforce, maintaining engagement remains an uphill battle. In this article, I will examine what motivation, or the lack of it, looks like in finance roles and why it’s crucial for you as a manager or team leader to take action.

Our latest REBR survey reveals that, on average, about 75% of finance professionals feel motivated or highly motivated to perform at their best. However, motivation levels vary significantly across regions – as do the underlying reasons for disengagement. In France, for instance, unclear or unrealistic management expectations pose a major challenge, with 42% of unmotivated finance workers citing this as a key issue, compared to just 17% in Belgium.

This regional contrast is part of a larger pattern of dissatisfaction within the finance sector. As highlighted by Raconteur, nearly 71% of financial professionals in the UK are actively seeking jobs outside their field, and almost 99% of accountants report experiencing burnout in their careers. These striking numbers point to a significant issue with engagement and job satisfaction within the industry. Meanwhile, a Deloitte survey of senior and emerging leaders at some of the largest U.S. firms shows strong connections between flexible work arrangements, remote work options, and higher levels of employee engagement and retention – revealing a key opportunity for improvement within the sector.

key behaviors of motivated finance professionals 

In my experience, motivated finance professionals are highly detail-oriented, proactive problem-solvers, and consistently willing to go above and beyond expectations. More specifically, engaged employees in finance are diligent about double-checking their work, catching errors early, and adhering to strict compliance standards, recognizing that mistakes in this field can be costly. On the other hand, demotivated individuals may become careless, overlook discrepancies, or miss important details.

During high-pressure periods, such as quarter-end reporting, audits, or client deadlines, motivated team members are usually willing to put in the extra effort, whether staying late or collaborating effectively to meet deadlines. Conversely, when morale is low, employees may resist taking on additional work, leading to missed deadlines or compliance issues.

In addition, finance departments rely on highly interdependent tasks, where effective collaboration is essential.

Engaged teams tend to communicate seamlessly – accountants coordinate efficiently with auditors, while analysts share valuable insights with managers. In contrast, a lack of motivation can manifest in siloed work, poor communication, and even overt disengagement, such as frequent complaints or visible signs of stress and frustration.

unique challenges in finance work

While research, such as the Quantum Workplace study, highlights the significant impact motivation has on employee performance and retention in the finance sector, sustaining long-term motivation in this field presents a number of challenges. As a manager or team leader, you must be aware that finance roles, such as accounting and analysis, often involve high-stakes, high-pressure environments, which can lead to disengagement and burnout if you don't manage them properly.

Several factors commonly contribute to the demotivation of finance employees:

high stress and burnout

The demanding nature of finance work – tight deadlines (monthly/quarterly closes, year-end), long hours, and the constant pressure to maintain accuracy – can contribute to significant stress. Symptoms of low motivation often include exhaustion, absenteeism, and a higher turnover rate as talented employees seek less stressful positions.

repetitive and mundane tasks

While finance work can be strategic, it often involves repetitive tasks such as data entry, invoice processing, and reconciliations. If you haven't modernized your company's workflows, talented employees may feel trapped in low-value work, leading to diminished motivation and job dissatisfaction.

lack of visibility

Finance teams often operate behind the scenes, with their achievements not as readily visible as those in sales or marketing. For instance, an analyst who works tirelessly to identify cost savings may never receive public recognition. This lack of acknowledgment can lead employees to feel their efforts are undervalued, ultimately reducing their engagement and motivation. A study by Gallup and Workhuman highlights that effective employee recognition is crucial for creating a work atmosphere where both employees and the organization can succeed.

strict regulations and control

While compliance procedures are necessary, they can create a rigid work environment. Employees may feel micromanaged by stringent policies, which can erode their sense of autonomy and diminish motivation. The need for precision and control in finance work, though critical, can sometimes make employees feel constrained, negatively impacting their overall job satisfaction.

4 tell-tales of an engaged finance team 

At Randstad, we've had the privilege of working with numerous teams and organizations within the finance sector over the years. From this experience, we've developed a clear picture of what an engaged, motivated, and successful finance team looks like:

1. continuous improvement mindset

Rather than merely focusing on number-crunching, engaged finance professionals actively seek better, more efficient ways to work. For example, they may automate reports or propose new financial tools. They consistently take the initiative to streamline processes, turning mundane tasks into automated ones, which boosts both their own job satisfaction and overall team efficiency.

2. strong collaboration with other departments

A motivated finance team doesn’t operate in isolation. They partner with other teams – working with operations to identify cost-saving opportunities or collaborating with HR on payroll budgeting. By acting as true business partners, they demonstrate their commitment to the broader success of the company.

3. high ethical standards and ownership

Engaged finance professionals take great pride in ensuring compliance and maintaining ethical standards. They are accountable for the integrity of the company’s finances, leading to fewer compliance issues and audit flags. Motivated employees are less likely to cut corners or conceal mistakes; instead, they take ownership, speak up, and work to resolve any issues.

4. low turnover

One of the clearest signs of a motivated finance team is low turnover. When your finance staff stays and grows within the company, it’s a strong indicator that they feel valued and see a long-term future with the organization. Engaged employees are less likely to job-hop, even in an industry known for its high turnover rates.

why motivation matters

Accuracy, productivity, and strategic impact. When finance employees are engaged, both accuracy and productivity improve. Errors decrease, and reports are delivered faster and with greater confidence. Motivated employees are also more likely to contribute valuable insights, not just crunch numbers, which can lead to better-informed business decisions. 

On the flip side, a disengaged finance team can negatively impact the organization – resulting in mistakes in financial reports, missed savings opportunities, and even heightened risks of fraud if employees stop caring. As Doug Conant, former CEO of Campbell’s Soup, aptly said, "To win in the marketplace, you must first win in the workplace." This underscores the need to shift from viewing employees as a cost (human resources) to recognizing them as an investment (human capital). When talent is at the center of your strategy, success follows.

The first step toward boosting employee motivation is understanding the current state of engagement within your organization. If your company is noticing signs of disengagement – such as declining productivity or higher turnover – it's essential to act quickly. In my next article, I will discuss effective strategies for addressing these issues and driving motivation in the finance sector.

key takeaways

• High stress and burnout are major drivers of disengagement – The finance sector’s high-pressure environment, long hours, and strict deadlines contribute to significant stress and burnout, leading to disengagement and higher turnover rates among employees.

• Motivated employees are proactive and detail-oriented – Engaged finance professionals are meticulous in their work, ensuring accuracy and compliance while also taking initiative to improve processes, contributing valuable insights, and driving business success.

• Low turnover is a sign of high engagement – A strong indicator of a motivated team is low turnover and employee growth within the organization.

• Employee motivation directly impacts accuracy, productivity, and business success – Engaged employees deliver higher quality work, make fewer mistakes, and are more likely to contribute strategic insights.