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Nearly Eight in 10 CFOs Taking Steps to Boost Employee Retention as Economy Improves

New research from Accountemps suggests it may be a good time to ask for that raise or promotion. To keep workers from jumping ship, 63 percent of chief financial officers (CFOs) interviewed recently said they are promoting top performers, and 52 percent are raising salaries. In total, 79 percent of the CFOs polled are taking steps to improve employee retention as the economy recovers.

The survey from Accountemps was conducted by an independent research firm and is based on interviews with more than 2,200 CFOs from a stratified random sample of companies in more than 20 of the largest U.S. metropolitan areas.

CFOs were asked, “Which of the following steps are you taking or do you plan to take to retain your employees as the economy improves?” Their responses*:

Promoting top performers

63%

Raising salaries

52%

Increasing investment in professional development or training programs

50%

Enhancing employee benefits, such as health insurance or retirement packages

48%

Reinstating or increasing bonuses

32%

None/no steps

21%

*Multiple responses allowed.

Accountemps_Employee+Retention+Infographic Tavorro

“Businesses can lose their competitive edge if they don’t have key players in place as new growth opportunities arise,” said Bill Driscoll, a district president of Accountemps. “Employers who aren’t actively engaging with their best people and providing competitive salaries risk losing them to other offers.”

Driscoll added, “To attract and retain employees, regularly evaluate compensation levels to ensure they’re in line with other firms in your industry and region, and, when possible, pay slightly more than your competitors.”

About Guest Author Accountemps

Accountemps, a Robert Half company, is the world’s first and largest specialized staffing service for temporary accounting, finance and bookkeeping professionals.

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