‘Mass exodus’ of unhappy accountants expected

The research by financial recruitment firm Robert Half found that 50 per cent of finance and accountancy staff planned to quit their jobs, and were either already seeking a new job or thinking about taking the plunge.

The survey of 330 respondents from finance, accounting and HR professionals found that 90 per cent of employers did not introduce retention packages for key staff during the economic downturn, a major reason for the planned exit of staff.

“We are currently experiencing a major increase in the number of finance staff looking at their options,” Robert Half director Andrew Brushfield said.

“They’ve been sitting tight for some time, working harder and working longer but their efforts have been unrewarded and in many cases unnoticed.”

The survey found 68 per cent of respondents indicated they had experienced a decline in working conditions in the past 12 months, working longer hours and experiencing more stress.

Fifty-eight per cent of finance workers said they had not taken their annual leave in the past 12 months, with 46 per cent per cent saying this was because of a heavy workload.

A quarter said they had taken sick days when they weren’t sick, mainly because they couldn’t face going to work, while 12 per cent said there was too much stress in the office.

“Given the turnaround in the economy, if employers are serious about staff retention, they need to start putting strategies in place now to keep their star performers on board,” Mr Brushfield warned.

This would include creating a less stressful workplace, encouraging professional development and introducing reward systems and financial incentives.

“Where employers have lacked in the last six to 12 months is in giving recognition where recognition is due,” he said.