New study from caba shows burnout-related symptoms such as panic attacks and depression common among chartered accountants
A new report published today by caba, the occupational charity for ICAEW members and their close families, has revealed that more than one in three (36%) chartered accountants have suffered from insomnia or disrupted sleep over the past 12 months.
The report, based on a study of over 300 UK chartered accountants from a range of accountancy bodies, also found that 1 in 3 (32%) has been diagnosed with or self-identifies with depression and 3 in 10 (29%) have experienced regular panic attacks.
The report findings show the concerning prevalence of chronic stress and other burnout-related symptoms within the profession. Almost 3 in 4 (74%) respondents said they had experienced a form of burnout (e.g., exhaustion, detachment, or decreased job performance) over the past 12 months.
More than 1 in 3 (36%) respondents said that their burnout symptoms had caused them to feel lonely or isolated, while a similar percentage (32%) said that their symptoms had led them to experience financial difficulties.
When it came to the workplace, 2 in 5 (45%) respondents indicated that symptoms of burnout had impaired their ability to do their job or caused them to take time off.
2 in 5 (41%) said they had considered changing careers or leaving the profession because of feelings of burnout.
The report also asked respondents which aspects of their job were the biggest contributors to feelings of burnout. Excessive workload came out as number one (46%), followed by work-life imbalance (45%), monotonous or unchallenging work (32%) and a lack of support from supervisors (31%).
When asked whether they think their employer offers sufficient resources to help employees manage burnout, more than half (54%) of respondents said that they did.
Just under a third (32%) of respondents said they had sought professional help outside of work, and 19% said they were currently considering it.
For those who had experienced burnout-related symptoms, 42% said that they found taking time off work helped them to recover. A further 35% said they’d reduced their working hours, while 25% said they’d sought support from their peers.
Commenting on the findings, Cristian Holmes, Chief Executive at caba, said:
“Being a chartered accountant is a highly respected and rewarding career choice, and there are a great many people who are incredibly happy in their role. However, for some, long working hours and tight deadlines can make for a high-pressure environment, which can sometimes lead to severe physical, emotional and behavioural symptoms we often associate with burnout.
“Managing these symptoms can be extremely challenging, and at caba, we’re committed to providing supportive and confidential help. We have a range of confidential support available to ICAEW members, including counselling and other mental health services.
“We know it can be challenging to reach out and ask for help. We would urge everyone struggling with feelings of burnout to reach out – whether that’s to a loved one, a friend, a member of their community, or to us. You’ll find that no matter how low you’re feeling there’s always someone there to support and guide you. You’re never alone.”
As part of its ongoing commitment to supporting the mental and financial health of ICAEW members and their close families, caba has launched a new Burnout Support Hub for chartered accountants experiencing feelings of burnout.
The hub features video interviews with ICAEW accountants about their own experience of burnout and chronic stress, as well as helpful online resources from caba.
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