Finance Employers Refocus on Hiring and Retention

A survey of more than 600 accounting and finance business leaders conducted by Accounting Principals jointly with the Institute of Management Accountants found many companies recognize existing retention issues, citing job burnout (19%), lack of professional development (17%) and compensation (17%) as the top reasons for employees leaving the company.   

However, not all employers have a clear direction in terms of addressing the issue, according to an Accounting Principals press release. While more than a third (35%) of companies plan to increase their attention on retention, a significant fraction of organizations plan to keep their policy unchanged (25%) or don’t know what their course will be (33%).  

In addition, 46% of respondents say they rarely and 28% say they never collaborate with the human resources department on retention policies.  

The survey found employers rely heavily on job board postings and recruitment agencies to source their top talent today, with more than half of respondents claiming they utilize one of those channels. Only 13% reported hiring through employee referrals.   

Accounting Principals announced the survey results along with its 2011 Salary Guide. The 2011 Salary Guide offers a look at the salaries of more than 140 finance and accounting job titles, including base salary and total cash compensation figures. Salary data are also broken down by company size, ranging from those with less than $50 million to more than $200 million in annual sales.   

In addition, national multipliers, calculated based on salary averages in each metro area, help determine a localized, more accurate compensation figure in each market.