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Accountancy & Finance Salary Guide:

Survey Insights

Our survey of employers and employees shows that development and flexibility might be all it takes to hold onto star players.

According to a survey conducted by Hays Accountancy & Finance, as many as four in every five finance trainees, accounting support staff, part-qualified or finalist accountants have new career goals firmly in their sights. Finance chiefs and heads of HR are confident that they have sufficient benefits and incentives in place to avoid losing their brightest finance talent to competitors might be well-advised to more closely examine their retention strategies.

Below is a summary of our findings. For a more in-depth analysis, download the full Accountancy & Finance Salary Guide.

  • The most glaring disparity between employers and their workforces centres on perceived opportunities for career progression.
  • Seven out of 10 bosses told our researchers they were confident they offered sufficient scope for progression to part-qualifieds and support staff – yet virtually the same proportion of employees disagreed, believing that moving onwards and upwards would only happen if they left for pastures new.
  • Everyone recognises that supportive line managers often enjoy high levels of staff loyalty, motivation and retention. Even when faced with recessionary factors over which they had little influence, many talented managers held together teams that might otherwise have cracked under the pressure.
  • However, our survey revealed that all is not well under several management regimes. Just over half (51 per cent) of employees say their manager doesn’t support their development.
  • The same proportion (51 per cent) complain that they’re overworked, while 65 per cent disagree with the idea that their office has a relaxed environment.

So what makes part-qualifieds and accounting support staff tick?

  • Season ticket loans (91 per cent)
  • Share incentive schemes (90 per cent) of individuals believe that having a stake in their employer’s success is a favourite benefit. Yet only 16 per cent of employers offer this benefit.
  • Flexible working arrangements are welcomed by more than nine in 10 employees although fewer than half (42 per cent) of the organisations they work for offer any degree of flexibility, and more than a tenth (12 per cent) offer flexible working only to employees who have children or caring commitments.

With the job market set to take off, employers anxious to hang onto their brightest juniors and future finance managers may well find that, in 2011, minor changes to benefits packages and a little more flexibility will prove powerful retention tools.

Download the full Accountancy & Finance Salary Guide, complete with regional salary levels, in PDF format.

At Hays Accountancy & Finance our consultants equip SMEs, large corporates and public sector employers nationwide with bright finance talent on a permanent and interim basis.