Feedback integral to combating imposter syndrome in accountancy

Accountants require an appropriate sounding board to prevent them from feeling like they are underperforming, according to Francis Mainoo, executive performance coach and head of sales at Moore Kingston Smith, where he also leads the firm’s sales training.

Chartered accountants have undertaken thousands of hours of training and examinations to reach their current role.

“After the embedded routine of constant hard work and the need to ‘be better’, individuals may struggle to accept that they deserve their position of responsibility or influence,” says Mark Pearce, wellbeing expert at the Chartered Accountants’ Benevolent Association (CABA).

“The traditional nature of the wider financial industry has perhaps shaped this.”

Before the pandemic, 60% of accountants felt they were not good enough at their job and the turbulent last few years will have only made the situation worse for accountants, says Mainoo.

Mainoo believes working remotely means you are less likely to obtain feedback. “If you’re not seeing how good you are, then that’s going to play into imposter syndrome,” he states.

Imposter Syndrome is defined as the persistent inability to believe that one’s success is deserved.

Mainoo suggests that working remotely can make an individual feel alone and being alone in a competitive industry that is a very high in IQ and arguably low on emotional intelligence (EQ), can mean accountants may feel that they’re “underperforming” compared to their colleagues.

Will Smart, managing partner at Cottons Chartered Accountants, agrees with this view and adds, “Covid and remote working eroded the level of face-to-face working together. This in turn prevents supervision, mentoring, and guidance that could and should be provided to trainee staff.

“These are all essential to building confidence, and when lacking, can increase the likelihood of people feeling inadequate in their roles,” he adds.

Mainoo also suggests that if you do not have an environment where you can reflect with someone and where you can realise that you are succeeding with a client, then you won’t understand the progress you have made to use for future clients.

In a high-IQ, low-EQ environment, Mainoo believes when individuals receive feedback, they are usually surprised by how well they are viewed in their role.

In a survey conducted by the Chartered Accountants Benevolent Society (CABA) in 2022, 32% of employees did not think their mental battles were severe enough to ask for help.

Accountants understanding their worth  

Without deriving appropriate feedback for your work from colleagues and clients it is difficult to understand the position of the client on potentially increasing their fees, according to Mainoo.

Mainoo adds that an accountant must recognise they are offering a worthwhile service that adds value via the insights they obtain and from clients and their managers.

The role of the employer   

Smart believes firms need to encourage teams to work physically together, especially in the early part of someone’s career when they are building confidence in their new role.

“They need to provide opportunities for informal training and guidance, together with a structured formal training process, all geared towards promoting very open two-way communication with staff,” he notes.

Pearce echoes this view and says it is vital for firms to normalise recognition and praise throughout different job roles before employees can work towards acceptance of their role.

Additionally, to tackle imposter syndrome, Pearce believes firms must “empathise and encourage employees to share their emotions confidentially, without the worry of senior leadership judgement.”

Mainoo says while some positive work is being done in pockets around the accounting industry, many accountants are still looking to get some time with him, illustrating a greater appetite for assistance in this area.

“More could be and should be done, and I think we can see that by the number of people who might be leaving the industry, he adds.

To find out how firms can support its employees further with these issues, please visit the CABA website.