Finance workers wedded to their profession

- Nearly three in four planning to work in finance until they retire -

- Overwhelming loyalty shown towards own companies -

- Career development prospects more important than pay rises -

Finance workers are wedded to their profession, with nearly three in four (71 per cent) of them planning to work in accountancy or finance until they retire. The research released today (19 January 2006) by leading recruitment consultancy Robert Half Finance & Accounting examines the plans, aspirations and views of finance workers towards the profession.

The nationwide survey of over 2,000 finance professionals reveals that finance professionals feel overwhelming loyal towards their own companies. Half (51 per cent) have been in their current job for more than four years and one in three (31 per cent) have been there for more than six years.

Two in three finance professionals feel personally involved in their companyís future development (67 per cent) and 74 per cent would recommend their company to friends or former colleagues.

The survey reveals that finance professionals are more interested in career development prospects than pay rises. The 44 per cent of financial professionals looking for a new job (only 12 per cent actively) are doing so for the following reasons:

1. Better career development potential (32 per cent)
2. Pay increases (24 per cent)
3. Improved work / life balance (22 per cent)
4. Increased responsibility (12 per cent)
5. Strength of the economy / A new challenge / Redundancy / Location (2 per cent each)

Phil Sheridan, Managing Director of Robert Half Finance & Accounting, comments:

ìWith new regulations now in place the demand for finance professionals has never been greater and employers must do what they can to retain the best people. Our survey reveals that the most important thing to finance professionals is career development opportunities, so if employers are to keep the best talent they must help with their staffís development. Companies should look to invest in training to help staff build new skills, establish mentoring programmes and assign staff more challenging projects. There will be a handful of staff who have made it their New Yearís resolution to pursue their careers elsewhere, so now is the time to make them feel motivated by putting new practices and systems in place.î

The Robert Half Finance & Accounting Salary & Benefits Survey was carried out in conjunction with Accountancy Age magazine.