The accountancy profession is in the
grip of a mental health crisis, with a shocking new study finding that a
third (31%) of chartered accountants feel stressed on a daily basis. The research, conducted by CABA, the chartered accountants’ well being charity, found that as few as 2% of respondents claim
to be unaffected by stress.
Nearly two-fifths (37%) said that their job was the main cause of their stress, while a third (29%) cited the difficulty of trying to maintain a work-life blend. Driving this issue home, two-fifths (38%) check their emails outside work every day, and a third (33%) even check their emails while sick or on annual leave.
There are various pressures within the workplace itself, which many accountants are grappling with on a regular basis and are sure to contribute to the rising industry stress levels. The research found that the most commonly felt workplace frustrations include:
A fifth (21%) of respondents cited money as the main cause of stress, though this was of greater concern to younger and middle-aged respondents than it was to their older colleagues. A quarter (24%) of 18-34-year-olds and a third (32%) of 35-44-year-olds report money being their main source of stress. This was in comparison to just 1-in-10 (10%) 45-54-year olds and fewer than a fifth (17%) of those aged over 55.
The research actually found that younger and middle-aged chartered accountants are likely to feel more stressed overall than their older colleagues. More than two fifths of 18-34-year-olds (43%) and 35-44-year-olds (45%) report feeling stressed every day, compared with just 13% of 45-54-year olds and 15% of those aged over 55.
"It’s particularly concerning to see that so many young people within the industry are wrestling with stress, with our research showing that they are the most likely to take work home, stay late in the office and work on days off," Freehan added. "Business leaders must provide tangible support that helps staff to form healthy working habits at the start of their careers, if we’re to avoid the risk of fewer young people seeking opportunities in accountancy."
Whatever the root cause, it’s clear that stress is having a major impact on accountants. Three-quarters (76%) claim that work has negatively affected them in the past 12 months, with a particular strain being placed on their social lives. Some of the most common effects include:
· a close relationship being damaged (61%)
· being unable to partake in hobbies (37%)
· feeling unable to concentrate on non-work-related issues (28%)
· being unable to see friends (27%)
· putting on weight due to a lack of work-life blend (27%)
CABA has launched a new ‘Mental Wellbeing’ campaign. Featuring a dedicated microsite, the campaign will provide support and advice to empower members of the ICAEW chartered accountant community to take greater care of their mental wellbeing. For more information, cabamentalwellbeing.org.uk
to be unaffected by stress.
Nearly two-fifths (37%) said that their job was the main cause of their stress, while a third (29%) cited the difficulty of trying to maintain a work-life blend. Driving this issue home, two-fifths (38%) check their emails outside work every day, and a third (33%) even check their emails while sick or on annual leave.
There are various pressures within the workplace itself, which many accountants are grappling with on a regular basis and are sure to contribute to the rising industry stress levels. The research found that the most commonly felt workplace frustrations include:
- being overworked (41%)
- office politics (33%)
- feeling undervalued (29%)
- failure to increase pay or rewards (29%)
- having to attend too many meetings (28%)
A fifth (21%) of respondents cited money as the main cause of stress, though this was of greater concern to younger and middle-aged respondents than it was to their older colleagues. A quarter (24%) of 18-34-year-olds and a third (32%) of 35-44-year-olds report money being their main source of stress. This was in comparison to just 1-in-10 (10%) 45-54-year olds and fewer than a fifth (17%) of those aged over 55.
The research actually found that younger and middle-aged chartered accountants are likely to feel more stressed overall than their older colleagues. More than two fifths of 18-34-year-olds (43%) and 35-44-year-olds (45%) report feeling stressed every day, compared with just 13% of 45-54-year olds and 15% of those aged over 55.
"It’s particularly concerning to see that so many young people within the industry are wrestling with stress, with our research showing that they are the most likely to take work home, stay late in the office and work on days off," Freehan added. "Business leaders must provide tangible support that helps staff to form healthy working habits at the start of their careers, if we’re to avoid the risk of fewer young people seeking opportunities in accountancy."
Whatever the root cause, it’s clear that stress is having a major impact on accountants. Three-quarters (76%) claim that work has negatively affected them in the past 12 months, with a particular strain being placed on their social lives. Some of the most common effects include:
· a close relationship being damaged (61%)
· being unable to partake in hobbies (37%)
· feeling unable to concentrate on non-work-related issues (28%)
· being unable to see friends (27%)
· putting on weight due to a lack of work-life blend (27%)
CABA has launched a new ‘Mental Wellbeing’ campaign. Featuring a dedicated microsite, the campaign will provide support and advice to empower members of the ICAEW chartered accountant community to take greater care of their mental wellbeing. For more information, cabamentalwellbeing.org.uk
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