CFOs struggling to retain employees

Chief finance officers and finance directors are struggling to retain key staff members from jumping jobs a survey has revealed.

The survey, conducted by recruitment specialist Robert Half across the UK, concluded that 66% of the 200 CFOs and FDs were concerned about losing top performers to other job opportunities in 2013.

Managing Director Phil Sheridan believes that companies looking to retain top performers need to focus on areas like career progression, training and work-life balance.

“Before your competitors have a chance to lure those workers away, you should look to ‘re-recruit’ them”, says Sheridan. This means “selling the company to highlight why it’s unique to its competitors.”

Contrary to expectations, about 20% of new finance accounting employees leave their company within the first year and only 9% leave for higher remuneration prospects.

Finance heads report about 32% of the new employees leave due to their inability to meet an employer’s expectations, indicating the initial hiring process should be reworked.

The study concludes that companies should not be concerned about losing just their top performers.