Job satisfaction and turnover intentions of accountants in Maltese listed entities

Abstract

Purpose: This study aims to determine the factors that influence the job satisfaction of accountants and evaluate the link between job satisfaction and turnover intention in Maltese Listed Entities. Job satisfaction analysis and its link with turnover intention is important for an organisation's success. Design: To achieve the objectives of this study, a qualitative approach was adopted. Ten semi-structured interviews were carried out with chief financial officers, financial controllers and senior managers working within Maltese Listed Entities. Findings: The findings of this study indicate that all the factors analysed have an influence on job satisfaction; however, some factors have a greater significance than others. Intrinsic factors – including achievement, recognition, and the work itself – have a greater influence on job satisfaction than the extrinsic factors (compensation and interpersonal relations with peers), changes in accounting regulations and job stress. Through this study, it is also evident that there is a link between job satisfaction and turnover intention. Intrinsic factors increase job satisfaction and thus, as these factors together with other satisfiers are present at the workplace, accountants are satisfied at their current employment. This satisfaction eventually leads to lower turnover intention of accountants in Maltese Listed Entities. Although the extrinsic factors and job stress may cause some dissatisfaction, satisfaction outweighs such discontent and when job satisfaction is present, there is low turnover intention. Conclusions: Employees will always be the most important asset for an organisation. Job satisfaction and accountants’ motivation are crucial for entities like the Maltese Listed Entities which are so dependent on their accountants for the organisation’s success. Thus, job satisfaction for accountants remains an important aspect for lower turnover intention in such organisations to retain the best talent and remain competitive. Value: This study hopes to help companies realise the importance of the job satisfaction of accountants in the industry, what factors influence this satisfaction and how keeping accountants satisfied will reduce their turnover intention.