According to the quarterly Badenoch & Clark Employment Study, nearly half (43%) of accounting and finance staff are looking to change jobs in the next 12 months, with over a third (33%) of workers now viewing their employer in a more negative light than when they started.
This shows a significant failing on behalf of employers of accounting and finance staff. Great attention is paid to projecting a positive image to customers and the wider business community, but it seems employee engagement has not been given the same focus.
As businesses look to combat the economic downturn through positive messages, many are not engaging their own staff in the same way, often leading to an army of ineffective, disillusioned workers. When the economy starts to pick up, the end result could be a wave of people heading for the exit.
This disengagement could also make it difficult to attract the best talent to help companies through the downturn. More than in any other profession, accounting and finance staff view the culture of their employer (37%) as a critical factor when considering a new role.
the end result could be a wave of people heading for the exit.
Lynne Hardman, Executive Director at Badenoch & Clark, agrees; “The figures show a worrying lack of focus on the employee experience. By focusing solely on their external perception, mangers are ignoring their key asset: the staff.
“Employees are the best ambassadors for a business and provide the best platform to show businesses in a positive light. Accounting and finance staff in particular see culture as extremely important when viewing a company – the danger for employers is that their culture messages do not filter through to workers and leave them feeling distanced and disengaged.
“Employer branding and employee engagement may be seen by some businesses as a side issue when compared to the immediate economic problems, but the danger is that many workers will grow less productive and morale will drop, directly impacting on business performance.
She adds: “Now, more than ever, companies need to retain their talented workers. Focusing on developing the relationship between employer and employee is an under rated and crucial way of getting the most out of your people – something that will be vital in weathering the current financial storm.”
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