A recent survey suggests that successfully wooing job candidates takes more than salary alone. While 31 per cent of chief financial officers (CFOs) interviewed said offering higher compensation than competitors is the most effective incentive for attracting accounting professionals, 20 per cent felt the benefits package had the greatest influence, up from 1 per cent five years ago.

The findings also suggest 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 top draw fell 8 points, from 28 per cent in 2003 to 20 per cent in 2008, on par with benefit packages.

The survey was developed by Robert Half International, the world's first and largest staffing services firm specializing in accounting and finance, and conducted by an independent research firm. It was based on telephone interviews with more than 270 CFOs across Canada.

The survey results further suggest that extended healthcare costs have increased the value workers place on benefits options, and employers need to respond accordingly. "Companies that do not provide comprehensive employment packages, including competitive compensation and benefits packages, risk losing top job candidates to other opportunities," said Max Messmer, chairman and CEO of Robert Half International and author of Human Resources Kit For Dummies(R), 2nd Edition (John Wiley & Sons, Inc.).

CFOs were asked, "In your opinion, which one of the following incentives is most effective in attracting top accounting candidates?" Their responses:

                                                                                                2008                                 2003

Higher salaries than competitors ..................                   31%                                  46%
Benefits package ..................................                               20%                                     1%
Telecommuting and/or flexible work schedules ......      20%                                   28%
Signing bonuses ...................................                                 4%                                     7%
Extra vacation days ...............................                                  4%                                   11%
Other .............................................                                             1%                                     1%
None/not offering any .............................                                1%                                     5%
Don't know/can't choose just one/no answer ........          19%                                     1%

                                                                                                    100%                               100%


Messmer added, "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 employees."


About the Survey

The study was developed by Robert Half International, the world's first and largest staffing services firm specializing in accounting and finance. It was conducted by an independent research firm and is based on more than 270 telephone interviews with CFOs from a random sample of Canadian companies with 20 or more employees. In order for the study to be statistically representative and ensure that companies from all segments were represented, the sample was stratified by industry and employee size. The results were then weighted to reflect the proper proportions of employee size within industry.