Recent research highlights significant mental health challenges faced by chartered accountants.
- A notable portion, 36%, experiences insomnia or disrupted sleep, indicating stress.
- One-third of these professionals identify with depression, impacting their overall well-being.
- Burnout and its symptoms are prevalent, affecting work performance and career satisfaction.
- Efforts are being made to provide support and resources for accountants dealing with stress.
A recent study by caba has revealed that chartered accountants face significant mental health challenges. Over one-third of these professionals have reported experiencing insomnia or disrupted sleep over the past year, highlighting the stress endemic in this field.
The study also shows that approximately 32% of chartered accountants identify with depression. This statistic underlines the serious impact of their demanding work environment on mental health.
Burnout, a condition marked by exhaustion, detachment, or decreased job performance, was reported by nearly three-quarters of respondents. Around 36% experienced feelings of loneliness or isolation due to burnout, while 32% encountered financial difficulties as a result.
In the workplace, burnout symptoms have impaired job performance for 45% of respondents, with an equivalent number considering career changes. Key stressors identified were excessive workload (46%), work-life imbalance (45%), monotonous work (32%), and lack of supervisory support (31%).
Despite these challenges, more than half of the respondents felt their employers offer adequate resources to manage burnout. However, 32% sought outside professional help, and 19% are contemplating it. Many found relief in taking time off (42%) or reducing work hours (35%), while 25% leaned on peer support.
Cristian Holmes, Chief Executive at caba, acknowledges the severe impacts of high-pressure environments on accountants’ mental health. He emphasizes the need for support, which caba provides through counseling and mental health services. Holmes urges accountants facing burnout to seek help from various sources, assuring them they are not alone.
As part of their ongoing support for accountants, caba has introduced a Burnout Support Hub. This resource includes interviews and information aimed at helping members cope with stress and burnout.
The prevalence of stress and burnout among chartered accountants necessitates continued support and resources to ensure their mental well-being.
