Blogs & Comment

Abandonment issues

Employee retention a top concern among CFOs: report.

(Photo: Thomas Barwick/Getty)

Since the economy went into free fall, prompting companies around the world to slash employees in a desperate bid to cut costs, the expectations of those who managed to hang onto their jobs has shot through the roof. Often saddled with more work and responsibility without a pay raise, the shrinking ranks of the employed became more stressed out—and, in the wake of recovery, more likely to look for greener pastures. (See my previous story on the perils of job-hopping.)

It should come as no surprise then that Canadian chief financial officers cite employee retention among their top concerns, according to a recent survey by Robert Half Management Resources. In the report, released June 28, the firm found that after controlling costs and improving profitability, CFOs said they were most worried about holding onto talent. Of the 275 CFOs surveyed, 43% said they are “concerned about losing financial professionals to other job opportunities.”

When it comes to preventing employees from jumping ship and attracting talent, 45% of those surveyed cited subsidized training/education and flexible work hours. Other popular perks: mentoring programs (26%); free or subsidized lunch (20%); matching gift programs (16%); and sabbaticals (14%).

As the folks at Robert Half see it, these findings highlight the importance of the role of financial executives. But there is also a message for everyday employees: though the golden age of perks may be over, incentives, in one form or another, are likely here to stay.