Assessing the mental and physical wellbeing of accountants working in Malta

Abstract

Purpose: The study aims to evaluate the mental and physical wellbeing of accountants working in Malta, exploring factors that might affect their overall state of 'flourishing'. It seeks to offer a detailed analysis of these aspects and highlight the challenges accountants encounter in their professional settings, aiming to provide insights into potential improvements in their wellbeing. Consequently, this study serves as a foundational benchmark for companies and firms, enabling them to develop and implement strategies aimed at improving the overall wellbeing of accountants. By providing a thorough comprehension of the aspects that have an impact on accountants' mental and physical wellbeing, organisations can tailor interventions and support mechanisms to address specific challenges and promote a healthier work environment. Design: To achieve its objectives, the study utilised online questionnaires which were distributed to accountants working in Malta. Findings: The findings show that accountants experience a moderate level of mental wellbeing due to obstacles such as heavy workloads, low pay, and unclear work-life boundaries that impede their ability to flourish. While physical wellbeing is essential for achieving overall flourishing, it remains a goal due to job demands. The study also examined demographic factors, revealing challenges for young female professionals in career advancement and highlighting the impact of age on mental and physical wellbeing, with older workers showing stronger connections between mental wellbeing and overall wellbeing. Additionally, employment status influences the ability to balance work and personal life, particularly for self-employed individuals and full-time employees who encounter blurred boundaries. While prioritising physical wellbeing is crucial for coping with workplace challenges, achieving a work-life balance proves to be difficult for them. Conclusion: The results suggest that accountants have not yet reached the optimal level of mental and physical wellbeing, indicating that the challenges they encounter may outweigh the effectiveness of interventions implemented by firms to improve employee wellbeing. Value: The mental and physical wellbeing of accountants may extend beyond their personal satisfaction to have organisational implications, including reduced productivity, increased absenteeism, and higher turnover rates. This could exacerbate the shortage of accountants as individuals may opt to leave the profession altogether.