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Staff retention a concern for CFOs: survey

Staff retention a concern for CFOs: survey

CFOs and finance directors are concerned about losing new and top performing staff, according to a survey by finance and accounting recruitment firm, Robert Half.

Some 85 per cent of 300 Australian CFOs and finance directors surveyed are concerned about losing valuable staff in the next year, with 36 per cent expecting new finance and accounting employees to leave a company within the first three years.

The survey found 74 per cent said hiring people that are “poor fit” with the job or business is the main reason why new staff leave the company early, followed by inability to meet expectations (30 per cent), poor fit with corporate culture (18 per cent), inability to integrate with the team (16 per cent), and the role not meeting the employee’s expectations (10 per cent).

Director at Robert Half, Kevin Jarvis, pointed out that staff turnover can be expensive and can impact productivity. He said business leaders need to focus more on how a job candidate might fit within the role and the company when hiring new people.

“Decision-makers should be devoting attention to hiring people who are the best possible fit for the company,” Jarvis said in a statement. “Businesses with a high volume of turnover should examine their hiring profiles and look for ways to enhance their candidate evaluation process.

“Companies can build loyalty among employees by developing an effective orientation process, setting clear expectations and providing ongoing training and feedback.”

Read Nearly half of Australian and New Zealand workers plan to look for new job: survey.

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Tags CFO surveystaffingstaff retentionRobert Half

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