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Contractor accountants need to consider staff retention

Contractor accountants need to consider staff retention

Retention of staff could become a headache for bosses in accountancy companies and finance departments, according to a study.

The online job board found that 50% of the accountants they surveyed were actively seeking a new position and within 12 months that figure will have risen to 75% of all accountants.

59% of the survey’s respondents are networking weekly and a third of them make new contacts on a daily basis. 46% admitted that their primary reason for networking was to help them secure new employment.

It also appears that the majority of accountants (80%) could easily be tempted to spread their wings and move abroad to work. The preferred destination is still Western Europe although the Middle East is gaining in popularity. The main reason cited for moving abroad was a better balance between work and home life, whilst better pay ranked second.

38% of accountants feel that the recession caused them to miss out on promotion and they now want to make inroads into improving their career prospects.

77% of accountants feel that their company does not motivate employees or provide sufficient training and support for career development. A lot of them also feel this situation is unlikely to change in the near future.

Around 20% of accountants are actually planning to set up their own business or change career path entirely whilst the remaining 80% intend to remain in the profession for life or at the very least for the next 5 to 10 years.

Max Williamson from points out that employers should be aware that the market is recovering, demand is rising and counter offers are making a comeback.

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Image: Fire Escapes! by Flipped Out

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