The survey of 1,200 accountants found that 40% didn’t believe their company had offered support during their period of ill health, and 24% were too cautious to tell their company as they thought it would have a negative impact on their career.
Nearly three quarters of all accountants are working in excess of a 40-hour week; with a fifth working between 50-70 hours a week, according to the findings from online audit jobs board CareersinAudit.com.
The report's authors warned that the longer working hours and increased stress will lead to many professionals looking to exit the accountancy industry. With the majority reporting an increase in working hours, 23% reported that they are working at least two to five hours more a week, and 15% are working at least five hours extra a week.
Just under a third (32%) had been prevented from attending important occasions because of work, including birthday parties, family holidays, funerals and weddings.
Nearly six in every 10 accountants surveyed admitted that their company could do more to help with their career development and provide more coaching, support and training.
In a sign that many staff do not feel they are being rewarded or are unhappy, the survey found that 42% of the participants are currently looking for a new job.
Simon Wright, director of CareersinAudit.com said, “It’s disappointing that so many accountants feel they are not being given the proper support with an increased workload, or feel their career progression would be jeopardized if they spoke to a line manager about this. There is almost an acceptance amongst accountants that work-related illnesses are par for the course – that it’s better to be silent so as not to rock the boat and potentially jeopardize a pay rise or promotion.
“If bosses fail to take action, we could see a nation of burnt out accountants and a rising number exiting the industry.”
Our accountants are the backbone of our businesses. The cost of losing your accountant due to burnout or illness in the future far outweighs the cost of hiring an assistant for your accountant today.