Managing employee stress to increase job satisfaction and team's performance in fund accounting team

• Main Author: Felix, Rizzie Ann J.
• Format: text
• Language: English
• Published: Animo Repository 2018
• Subjects: Job stress; Job satisfaction; Work > Psychological aspects
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/5622
• Institution: De La Salle University

In this action research, I, in collaboration with other teams, focused on addressing the high level of stress in Sydney Fund Accounting team. Job stress is determined by the level of job demand and decision latitude an employee experiences (Karasek, 1979). Manifestations of the issue include high level of attrition rate, low level of performance, physiological (stress ulcer, irregular heartbeat, fever, over fatigue, etc.) and psychological (anxiety attacks, high emotions, etc.) outcomes, and increasing absenteeism and tardiness rate. This action research was developed with the objective of (1) revisiting monthly workload allocation to increase team's performance and (2) reduce rendered overtime, and (3) to help the management to reduce employee turnover through efforts of building stronger interpersonal relation and eliminating workers conflict within the team and its counterparties. On the other hand, the goal of this research is to see a workplace with people attaining job satisfaction and job security. As an insider researcher, I used data triangulation as a means to generate and obtain data from team reports, small group discussions (SGD), one-on-one conversation, and informal interviews and discussions. I used frameworks that were applicable in preventing and managing high level of stress in our team. The collaborators and I were guided by the organizational stress management models of Ivancevich et al. (2011) and Glazer et a. (2017). To have sustainable projects we applied Hiatt's ADKAR Model to implement change in the organization. The intervention we implementer to address the issue on high level of stress were (1) Workload Rebalancing and (2) Sport fest- teambuilding with counterparties. These projects were successful in achieving the objectives and goals. I realize that a successful fund accounting team should not only highly invest in technology to increase process efficiency, but also manage its people stress level. By going back to the basics of workload rebalancing, and improving interpersonal relations, the process improvements made in our team were better complimented. We improved our performance and reduced employee turnover. People are now more satisfied in their job and more proud to be part of the team. With this project, I also experienced the importance of open and smooth communication across the team in addressing the issue. This project will not be possible without the support of both management team and the team members. The most rewarding part of this project was being a change agent, and helping people be involved in the change. 'Change agent' is a term already known in our team. For the next cycle, I recommend interventions that would incorporate other stressors not captured in this study such as politics, career development, and change of pace. I would want to develop a more measurable and objective career development programs related to people's progression. As related issues were visible in our team, causing people conflicts, distrust in the management, and decrease of job autonomy due to job enrichment, which are all part of organizational stressors.