eFinancialCareers

Pay rises may always be at the top of employees’ minds, but increasingly other factors, such as career development and training, are becoming more important in determining whether finance workers stay or switch firms.

These are the findings according to the spring salary survey conducted by Robert Half Finance and Accounting in conjunction with Accountancy Age.

Dave Jones, UK managing director of Robert Half Finance and Accounting says, “The days of accountants as number crunchers are long gone. Today’s financial professionals are looking for companies that will help them develop and grow.”

Companies should be putting together career developmental programmes that not only focus on technical skills but also on interpersonal skills, such as making presentations and public speaking, Jones says. “There is a lot of talk about this but few companies are actually doing it.”

The survey, which questioned 1,100 finance professionals in the UK, revealed that 53% of finance professionals were looking for a new job while one in five of those were actively looking to make a move. About 37% of the respondents have worked for five or more organisations with men being more mobile than women.

One of the main reasons motivating employees to switch firms is better career development opportunities both professionally and personally. This is particularly true among the younger generation, with 76% of those aged 25 or under looking to be trained for the next stage of their career.

However, there appears to be a geographical split in attitudes with those working in the Home Counties, the North and London more concerned with career development prospects while those from the South Coast and Scotland more interested in pay hikes.

Overall, 46% of the respondents said they would leave their job for a salary increase although expectations are not too high. About 43% believe they will pocket a pay rise in line with inflation in their current job and nearly half think their bonus will be £5,000 or less.