NewsLink

	E-Mail This Article Printer-Friendly Version

Benefits Over Money?

What attracts prospective candidates more? Benefits? Salary? Work/life balance? A recent survey by Robert Half International, a staffing services firm specializing in accounting and finance, suggests that successfully attracting job candidates may actually take more than salary alone. In fact, of the chief financial officers (CFOs) polled, 37% claim offering higher compensation than competitors is the most effective incentive for attracting accounting professionals, and that 33% felt the benefits package had the greatest influence, up from just 2% five years ago. In addition, further findings also suggest that traditional incentives are a higher priority today: while the popularity of benefits surged, the number of financial executives who feel telecommuting and flexible work schedules are the biggest draw plummeted to 13% in 2008 from 33% in 2003. While medical costs continue to increase, the value workers place on healthcare benefits options, suggests that employers should respond accordingly. “Companies that do not provide comprehensive employment packages, including competitive compensation and insurance programs, risk losing top job candidates to other opportunities,” says Max Messmer, chairman and CEO of Robert Half International. When CFOs were asked which incentives are the most effective in attracting top accounting candidates, 37% cite higher salaries than their competitors; 33% indicate benefits package/insurance; and 13% believe telecommuting and/or flexible work schedules. “Whether it’s higher salaries and enhanced healthcare coverage or accelerated career-advancement opportunities, employers should determine and effectively communicate what makes their company a great place to work when speaking with prospective employers,” Messmer adds.