Some really interesting statistics and analysis came to light following a survey concluded by CIMA at the end of January 2017. More than half (55%) of the qualified accountants who responded, cited flexibility and a greater work-life balance as their biggest motivations when looking for and considering a new job. This is a big increase from the 37% in 2015 according to research by the Chartered Institute of Management Accountants (CIMA).
The 2016 salary survey conducted by CIMA utilised 3,460 student accountants, CIMA members and 4,467 qualified CIMA members. This report established that 52% of qualified accountants who responded were motivated by financial rewards alone.
Other key takeaways: –
- 42% of qualified accountant respondents cite a good working environment as their main motivator.
- More than half (53%) of student accountant respondents are influenced by financial rewards when considering a new role.
- 36% of student accountants responded that they are motivated by a good working environment when considering a new role.
Here at Astute we feel that it is increasingly likely that finance professionals and their employers will place increasing significance on being able to participate in and offer flexible working hours outside the 9 – 5. Attracting and retaining talented staff is always key. In an increasingly competitive market, employers slow to adopt new, fresh flexible benefits could be missing out on hiring the best talent for their teams.
However what the research also indicates is the greater importance on career development rather than flexible benefits by CIMA Students. Their focus remains seeking career building opportunities offering the best and widest experience. In contrast the more experienced hire seems to be saying they need an employer who can flex around their personal and private commitments (e.g. childcare, elderly relatives etc.).
Up next...
