Survey reveals finance professionals have itchy feet despite the economy

added february 20th 2009

Despite the current tough economic conditions and relatively high levels of unemployment, more than 80% of respondents in the 2009 Reed Accountancy & Reed Finance Salary and Benefits Survey said they were considering changing employer in the next 12 months.

Poor prospects and dissatisfaction with their current management were the two most commonly cited reasons for wanting to move, with the public sector the most sought after destination - as this is seen as being a relative ‘safe haven’ during the current recession. More than half of respondents even said they would consider moving abroad for their next role.

In recruitment terms at least, employers are benefiting from the increased number of jobseekers on the market and securing talent that they otherwise wouldn’t have been available to them. 55% of clients who responded said they viewed this as a time to recruit talent into their organizations.

One question where there was agreement was regarding which sectors had the best recruitment prospects for the next 12 months. A quarter of candidates and a third of clients rated the Public and Not For Profit Sectors as likely to be the best.

However, the significant variances the survey revealed between employees and employers’ perceptions around loyalty1, training2 and benefits3, showed that organizations cannot afford to disregard the needs and expectations of their people.

Commenting on the findings of this nationwide survey, in which 200.000 candidates and 40,000 employers were polled, Reed Finance Director Tim Vye said: "Many organisations are carefully reviewing their recruitment strategies in light of the contracting economy, but our survey has revealed that existing employees’ loyalty cannot, and should not, be taken for granted.

“Perhaps now more than ever, managers should ensure they really know the capabilities, desires and career development aspirations of their people, so that their employees are as motivated and productive as they can be.”

- Ends -

About the Reed Accountancy and Reed Finance Salary & Benefits Survey 2009
• Survey Findings:
1. Loyalty: 92% of employers rated their employees as loyal or quite loyal, whereas 81% of employees said they were considering changing employer in the next 12 months.
2. Training: 96% of employees said they thought their employees were satisfied with the training their organization offered, but only 50% of employees said they were satisfied.
3. Benefits: 53% of employees said they weren’t satisfied by the benefits their organization offered, although 78% of employers felt their employees were satisfied by the benefits offered.
• From March 9th 2009, the survey can be accessed online at: http://www.reedglobal.com/salarysurvey/

About Reed Specialist Recruitment
Founded in 1960, Reed is a specialist provider of permanent, contract, temporary and outsourced recruitment solutions, as well as IT and HR consulting.

Reed operates in Europe, the Middle East and Asia Pacific and has over 4,000 permanent employees working out of 400 offices worldwide across more than 30 specialisms.

reedglobal.com enables clients around the world to interact with our recruitment services, while also enabling jobseekers globally to search for opportunities across multiple industry sectors. reed.co.uk is the UK's biggest jobsite and receives over 1.3 million job applications per month.

Reed is passionate about the environment and has an award-winning environmental programme. Reed continues to maintain its Carbon Neutral (R) status and commitment to being Carbon Responsible.

For further information please contact
Adrian Linden
PR Manager
Reed Press Office
P: +44 (0)845 241 9249
M: +44 (0)7919 967 865
E: press.office@reedglobal.com

View this article online: http://www.reedpressoffice.co.uk/newsArticle/Survey+reveals+finance+professionals+have+itchy+feet+despite+the+economy/