Benefits February 23, 2010

Money Talks When Rewarding Finance Professionals

February 23, 2010 (PLANSPONSOR.com) - Forty-six percent of chief financial officers (CFOs) interviewed cited bonuses as most effective in rewarding accounting teams after major projects.
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Accountemps announced that its survey found time off ranked a distant second, with 21% of respondents saying it was the most effective employee reward. CFOs also cited a departmental lunch or social gathering (15%) and tickets to sporting or entertainment events (4%) as effective rewards.

According to the announcement, 12% of CFOs said they do not reward their teams following a major project.

“For those employees who have taken on added responsibilities as a result of staff cutbacks, offering some form of cash recognition can go a long way in demonstrating these extra efforts are valued,” said Max Messmer, chairman of Accountemps, in the announcement.

An independent research firm conducted the survey for Accountemps, a staffing service for temporary accounting, finance and bookkeeping professionals, among more than 1,400 CFOs from a stratified random sample of U.S. companies with more than 20 employees.

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