More than a third of chartered accountants (36%) say they have suffered from insomnia or disrupted sleep over the past 12 months, amid warnings of chronic stress and burnout within the profession.
A survey of more than 300 chartered accountants by caba, the occupational charity for the Institute of Chartered Accountants in England and Wales (ICAEW), also found a similar percentage (32%) had been diagnosed with or self-identified with depression. Around a third again (29%) said they experienced regular panic attacks.
The report highlighted “a concerning prevalence of chronic stress and other burnout-related symptoms within the profession”, caba warned.
Almost three-quarters of respondents (74%) said they had experienced some form of burnout (for example exhaustion, detachment, or decreased job performance) over the past 12 months.
More than a third of these (36%) said their burnout symptoms had caused them to feel lonely or isolated, while a similar percentage (32%) said their symptoms had led them to experience financial difficulties.
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When it came to the workplace, nearly half (45%) indicated that symptoms of burnout had impaired their ability to do their job or caused them to take time off.
Four out of 10 (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 felt their employer offered sufficient resources to help manage burnout, just half of respondents (54%) 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.
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,” Holmes added.
As part of its response to the findings, caba has launched a ‘Burnout Support Hub’ for chartered accountants experiencing feelings of burnout. This includes video interviews with ICAEW accountants about their own experience of burnout and chronic stress, as well as online resources.
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