The work-life balance of CPAs in Maltese listed companies : a study

Abstract

Purpose: This study aims to analyse the accountants’ attitudes towards work-life balance and alternative work arrangements, the impact of the new Work-Life Balance Directive and the impact of the unforeseen pandemic on work-life balance. Design: The objectives of the study were reached by conducting 16 semistructured interviews with certified public accountants holding the position of chief financial officers or those at management level, working within Maltese listed companies. A semi-structured interview with the Department of Industrial and Employment Relations was also held. Findings: Findings indicate that although the accountancy profession is quite demanding, certified public accountants in Maltese Listed Companies, do their best to live their interpretation of the concept of work-life balance. Work-life balance is also possible through the provision of alternative work arrangements, with teleworking being the most available option at Maltese listed companies under study. Despite this, employers are still sceptical about employees who adopt alternative work arrangements, as very often these are left out from important projects, resulting in a lower chance of promotion. This phenomenon has become increasingly important and the European Union has issued a new Work-Life Balance Directive across all Member States so as to promote equal share of responsibilities between males and females and limit traditional gender stereotypes. COVID-19 is regarded as having changed the future working model since teleworking has become widely accepted by employers. Conclusions: The study illustrates the importance of work-life balance to all stakeholders as it improves both the worker’s morale and efficiency which in turn increases the productivity levels of the organisation. Major milestones have been reached over the years in this regard; however, room for improvement still remains in terms of limiting any negative employers’ perceptions towards those who opt for alternative work arrangements. COVID-19 and the Work-Life Balance Directive to be implemented in 2022 will continue to help change the Maltese working environment in a positive way. Value: This study contributes to the knowledge of work-life balance issues among certified public accountants in Maltese Listed Companies.