CABA: Fifth of accountants say cost of living crisis is hindering career progress
Nearly one fifth of respondents said they were considering or have already moved to another organisation or industry
One in five working accountants have said that the cost of living crisis has hampered their career progression, according to a survey conducted by CABA.
Of those surveyed nearly two thirds feel their employer is focusing more on the business’ finances than employee progression, and 38% are having to fill in for others due to cost cuts.
Furthermore, 40% said they are working more regularly from home to avoid the cost of commuting, prompting concerns about a knock-on effect on progression due to their absence from the office.
Over a quarter of accountants believe that the crisis has meant there are less opportunities for work. More than one in five accountants are worried about losing their job while 16% have stated they are considering taking another job.
In addition, Nearly one fifth of respondents said they were considering or have already moved to another organisation or industry.
Mark Pearce, head of service delivery and development at CABA, said: “Trying to develop your career can be tough, especially if you’re working in a particularly busy role, and the cost of living crisis has only heightened this challenge.
“Whether you’re exhausted from juggling additional jobs, missing out on opportunities in the office, or feel like your development has been de-prioritised – you’re not alone, and there is support out there for you.”
Pearce added: “While employees may feel like they are lacking in formal career development at this time, there are ways in which they can progress their personal development with help from support services.
“At caba, we have a wealth of online advice to help chartered accountants keep progressing, from personal development tactics to advice for those looking to change their career path. Our advisors can offer free, confidential help and advice, as well as support to help members secure a long-term financial future. We can offer emotional support too, when money worries are taking a toll on members’ mental health.”
