The state of the world and the pace of technological developments are having a significant impact on accountants, according to ICAEW members’ charity, caba.

Paul Guess, Case Management Officer at the charity, which supports ICAEW members facing financial hardship and health challenges, says that political instability and the rise of AI are increasing sources of worry, alongside a growing sense of having too little time to seek support when they need it most.

How the global landscape is impacting accountants

People are far more exposed to global events than previous generations, Guess says. “We're getting it instantly everywhere we look. We're getting messages about war, famine and disaster. We're getting different points of view. We can't determine which news source to trust. It’s no wonder everyone's feeling very insecure.”

While global economic and political developments may feel beyond an individual’s control, Guess says people can still take practical steps to protect their mental health by recognising their triggers and focusing on what they can influence.

Solution: control your consumption

People can develop unhealthy dependencies on social media resulting in almost constant news consumption during stressful periods. Give yourself breaks from these channels and other sources of stress. Focus on what’s in front of you, and what you can control. If you struggle with this, devices such as Brick or apps such as Forest, Opal or AppBlock can lock your phone for a set period of time. 

The rise of AI is generating fear

Guess also notes that many members, particularly young people, are concerned about the impact of AI and automation on their careers.

Although some firms may see this as an opportunity to shift junior staff towards higher-value analytical and advisory work, Guess says that students entering the profession may understandably be questioning what their career progression looks like.

Solution: focus on self-development

Again, this is about focusing on what you can control. Look at the in-demand skills within the profession and work to develop them. Take time to understand what AI is being used for, and what it isn’t.  

Time poverty makes it harder to tackle issues

Guess notes that engagement with caba tends to drop  when people feel the most pressure. People will deprioritise their health when they have deadlines or other constraints, such as childcare responsibilities during school holidays. When you’re time-poor, one hour a week of counselling can be a big commitment.

“It's this idea that you just don't have time. If you've got, say, 18 hours per day available to you and you've got a very demanding job, if you can spend an extra two hours on that job, maybe you'll get a bit further along. But where are those two hours going to come from? Something has to give.”

Solution: set clear boundaries

Have a cut-off time in the evening for responding to emails. If you struggle to stop yourself, try switching off notifications from your email after a certain time, and setting an out of office for outside working hours. The 8-8-8 rule for work-life balance – eight hours for work, eight hours for sleep, and eight hours for personal time – can help to simplify this. Apps such as Sunsama can help to manage workloads and to block out time, and apps such as Tiimo offer visual planners that allow you to segregate tasks across your day.

Outside of these measures, Guess suggests the following:

• Be mindful: Have self-awareness about whether your habits and behaviour are helping or not, so you understand your limits and triggers and act appropriately when they occur. 
• Be kind to yourself: Different from doing what you want, which can be self-destructive, you should show yourself the same compassion you might show someone else.
• Seek professional support: Financial issues, for example, and poor mental health can go hand in hand; organisations such as caba can help support you through them.

“Remember that you're not alone. You're not the only person feeling the way you're feeling at the moment,” emphasises Guess, stressing that, however “calm and confident” anyone else looks, you don’t know what they’re going through.