Job confidence rises in finance sector

Job
security in the finance sector is looking positive, with nine out of 10 HR and
financial managers expecting to retain all current staff, or even recruit
additional staff, over the next six months.

The
latest Robert Half Finance &
Accounting Financial Hiring Index
shows that financial sector employees are
growing in confidence.

However,
this brings its own set of problems for employers as staff may consider moving
on, according to Steve Carter, UK
& Ireland
managing director for Robert Half Finance & Accounting.

"With
the economy picking up, people are more willing to take risks and pursue other
employment possibilities,” he said.

“More
employers have to be aware of this if they hope to retain their staff. To
achieve this, benefits packages need to be reviewed at all levels and, more
importantly, employers need to strike the right balance between financial
reward, career development and providing incentives that reflect the right
work-life balance.”

Traditionally,
monetary bonuses have been the main benefit offered to employees, but employers
are coming to the realisation that this alone will not suffice, the survey
shows.

While
bonus plans remain popular, almost three-quarters of respondents disagree that
it is the top benefit that employees prefer to receive. Instead, one in four
named a decent retirement plan as the top option and a further 15 per cent
opted for an increase in holiday allowance.  

Working
from home (13 per cent) and a company car (10 per cent) also rated highly,
demonstrating that a mixture of financial and quality-of-life
incentives are
deemed to be increasingly more important to today’s
employees.

The
research also examined why managers thought employees would quit their jobs.
Lack of career options (36 per cent), salary dissatisfaction (24 per cent) and
stress (14 per cent) were the top reasons cited.

By Daniel Thomas

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