Employers need to provide more than just higher pay to attract accounting professionals, new research has found.
Recruiters expect competition for talent to intensify in the first half of this year, with almost half of finance and accounting managers planning to boost staff numbers in 2024, according to research by recruitment firm Robert Half.
And the survey found that employers need to offer more than the going rate to attract staff. Accounting professionals are looking beyond financial incentives and are instead opting for additional benefits, with a working from home topping the list of demands. Flexible benefits programmes, fuel allowance, meal vouchers and dental insurance are also priorities for new recruits.
Hannah Szymanski, Market Director Finance and Accounting at Robert Half, said: “While our data shows that pay inflation has increased across the remit, we are also seeing a rise in demand for more than financial incentives alone to move roles.
“For employers that are unable to continue with salary increases at current rates, this is good news, but it presents a new challenge in identifying what more potential candidates want.”
The desire for hybrid and remote working is borne out by new research from accountancy recruitment firm, Wade Macdonald, which recently published its 2024 Salary Guide, surveying 850 accountancy and HR professionals. It found that flexible working was found to be the most popular benefit, with 88% of respondents valuing flexible working overall.
Chris Goulding, Managing Director of Wade Macdonald, said: “Full-time office and full-time remote roles are some of the hardest to recruit for. By factoring in how issues like long commutes and non-negotiable hours impact employee wellbeing, particularly those with disabilities or caring commitments, it’s understandable why employees would want the best of both worlds.
“Offering flexible working arrangements does not mean employees will always work from home. The choice is what makes the difference. Flexibility improves employee wellbeing and satisfaction, giving employees control over their time so they can thrive in and outside of work.”
The Wade Macdonald research found that three-quarters of those at director level and above, 88% working in senior management and non-management roles, and 91% of management level recruits, cited flexible working as their top benefit.
However, it also found that nine in 10 non-managerial employees are denied the option of flexible working, despite the recent passing of the Flexible Working Act.
“Offering flexible working arrangements does not mean employees will always work from home. The choice is what makes the difference. Flexibility improves employee wellbeing and satisfaction, giving employees control over their time so they can thrive in and outside of work.”
Chris Goulding, Managing Director, Wade McDonald
