65% of Finance And Accounting Professionals in Singapore Want A New Job | Accounting Jobs

Robert Half Survey - Finance Jobs & Accounting Jobs

According to Robert Half’s Q1 2010 Workplace Survey, it found that 65% of Singapore finance and accounting professionals are thinking of leaving for a new job or are already on the hunt.

Out of those looking for a new finance job/accounting job, many cite better pay (65%) to be the biggest motivator. This is followed by no opportunities for progression (46%), boredom in current jobs (29%), frustration at money-pinching cutbacks by their employers over the past 12 months (20%) and not being offered training to improve skills (18%).

On the other hand, while three-quarters (73%) of organisations worry about the departure of their finance and accounting staff, only 10% say they have introduced retention packages for key staff, with an overwhelming 90% yet to take action.

The survey found that the majority of organisations (71%) believe pay rises are the most effective way to foster loyalty among their finance staff. This was followed by the presence of strong leadership and managers (55%), sending staff on training and development courses (50%) and providing improved benefits packages (45%).

Specifically for star performers, organisations would typically reward them with a promotion (67%), followed by cash (44%).

“We are witnessing the resurgence of a skills shortage as organisations ramp up hiring and push up demand for the best talent in finance and accounting jobs. However, apart from the financial carrot, organisations need to think harder about how they are going to provide both professional and personal development to their people, especially their star performers. Key to this would be to identify opportunities for progression within the firm, as well as to continue communicating with and empowering employees with good leadership and mentorship”, said Tim Hird, managing director of Robert Half Singapore.

The Robert Half survey was conducted among 1,281 human resources managers and finance professionals in four countries in the Asia-Pacific region with a total of 273 respondents interviewed in Singapore.

Sources and references: Human Resouces Online, Robert Half (Survey - Finance Job & Accounting Jobs)