Over a third (36%) of chartered accountants say that they suffered from insomnia and disturbed sleep in the last 12 months. This is despite warnings about chronic stress and burnout amongst the profession.
In a survey of over 300 chartered accountants by caba (the occupational charity of the Institute of Chartered Accountants in England & Wales (ICAEW), a similar percentage (32) had also been diagnosed or self-identified as depression. A third (29%) of respondents said that they had regular panic attacks.
Caba warned that the report revealed “a worrying prevalence of chronic stress, and other burnout symptoms in the profession”.
Nearly three quarters (74%) of respondents said that they experienced burnout in the last 12 months (such as exhaustion or detachment from work, or a decrease in job performance).
A third (36%) of respondents said that their burnout symptoms caused them to feel isolated or lonely, and a similar number (32%) reported financial problems as a result.
Nearly half of workers (45%) reported that burnout symptoms had affected their ability to perform their jobs or forced them to take time away.
Burnout is a factor that four out of ten (41%) respondents said they have considered leaving their profession or changing careers.
In the report, respondents were asked which aspects of their jobs contributed most to burnout. The report ranked excessive workload as the number one cause of burnout (46%), followed closely by work-life balance (45%), monotonous work (32%), and lack of supervisor support (31%).
Just half (54%) of respondents said they thought their employers provided enough resources to manage burnout.
A little under a third of respondents (32%) said that they have sought professional assistance outside of their workplace, while 19% are currently considering it.
42% of those with burnout symptoms said they recovered better by taking time off. Another 35% reported that they had reduced their work hours while 25% stated they sought support from peers.
Cristian Holmes, CEO of caba said: “Being chartered is a rewarding and highly respected career choice. There are many people who love their job.
“However, in some cases, long hours and tight deadlines may create a high-pressure work environment that can lead to physical, emotional, and behavioral symptoms often associated with burnout.
“Managing these symptoms can prove to be a challenge, and we at caba are committed to offering supportive and confidential assistance. Holmes said that ICAEW Members have access to a variety of confidential services, such as counselling and mental health services.
caba, as part of its response to these findings, has created a ‘Burnout Help Hub’ for chartered accountancy professionals experiencing burnout. The Burnout Support Hub includes videos of ICAEW Accountants discussing their experience with burnout and chronic stresses, as well online resources.
