Employers need to help with their staff's career development or risk losing them to a competitor, according to new research released today by leading recruitment consultancy Robert Half Finance & Accounting. The survey was conducted with 1,100 finance professionals in the UK, and examines their outlook for the year ahead.
The survey carried out in conjunction with Accountancy Age magazine reveals that over half (53 per cent) of finance professionals are seeking a new job and of these one in five (20 per cent) are actively looking to move.
The main reason for people looking to change companies is better career development potential (55 per cent). This finding is particular strong among the younger age group, with 76 per cent of those aged 25 or under seeking better career development prospects. Those working in the Home Counties, the North and London report the highest figures while those from the South Coast and Scotland appear to be more interested in pay increases.
The second reason that finance professionals would leave their current job is for a pay increase (46 per cent), which may reflect the fact that 43 per cent are only expecting pay increases in line with inflation in their current job, and one in five (22 per cent) are only expecting an increase of ten per cent or less. Nearly half (45 per cent) expect their bonus to be £5,000 or less.
The survey reveals that finance professionals are not afraid to move jobs, with over a third (37 per cent) having worked for five or more organisations over their careers. Men are particularly mobile, with the figure standing at 40 per cent compared to 33 per cent of women.
Dave Jones, UK Managing Director of Robert Half Finance & Accounting, comments:
"The demand for finance professionals has never been greater. Employers must take note of the results of our survey and endeavour to retain their best people. Promotion and career development is the biggest factor they should look at - ahead of pay increases. Employers must put new practices and systems in place, such as training to help team members build new skills.
"If budgets are tight there are other ways to enhance career growth such as assigning more challenging projects and establishing mentoring relationships. Mentoring is a crucial strategy for transferring wisdom, fostering talent and promoting the best practices within the firm or your department. "
For a full copy of the survey results visit www.roberthalf.co.uk | 
