Team-building in Maltese accountancy firms : a study

Abstract

Purpose: This study aims to identify the merits and barriers to effective team-building within Maltese Accountancy firms. This study also seeks to determine whether team-building activities lead to an improved performance within departmental teams and to establish the key factors that affect the outcome of team-building activities within Maltese Accountancy Firms. Design: The objectives of this dissertation were obtained through the adoption of a qualitative approach, whereby 9 semi-structured interviews were conducted with HR managers and directors within local Big Four, mid-tier and small accountancy firms. Findings: The results from the study indicate that whereas team-building cannot be utilised as a tool to curb staff turnover, it is in fact successful in counteracting work stress, as well as in instilling a culture of openness within the firm. While a correlation has not been identified between team-building initiatives and an improved performance within departmental teams, such initiatives still result in curbing staff burnout and increased levels of employee motivation. It also emerged that such improvements do not span for a long period of time. As a matter of fact, the highest barrier to team-building resulted to be the fact that such positive effects are short lived. It was also deduced that the employees‟ willingness to partake within team-building initiatives, the sizes of teams and the novel coronavirus are all key factors which affect the outcome of team-building events, especially within this past year. Conclusions: It emerged that in order to ensure the longevity of positive outcomes derived from team-building initiatives, accountancy firms need to realise that team-building is an investment in the people resource of the organisation and that it requires a long-term commitment. Value: This is the first study which addressed the notion of team-building within the accounting field. Local accountancy firms can endorse the recommendations put forth in the study with the purpose of improving the outcome and effectiveness of team-building initiatives.