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One quarter of finance chiefs lost a good employee because of pay

April 08, 2015

One-fourth, 25%, of CFOs reported losing a good employee in the past year to a job that paid more, according to a survey released today by Robert Half International Inc. (NYSE: RHI).

“Highly skilled professionals have options in the current hiring environment,” said Paul McDonald, senior executive director for Robert Half. “To attract and retain employees, businesses must proactively benchmark salaries and ensure they are offering competitive pay. If a manager can’t recall the last time wages were evaluated, it’s probably been too long.”

CFOs were previously asked, “Which one of the following is most likely to cause good employees to quit their jobs?” Inadequate salary and benefits garnered 28% of the responses, followed by limited opportunities for advancement and unhappiness with management at 22% and 14% respectively.

Similarly, workers were asked, “Which one of the following is most likely to cause you to quit your job?” Inadequate salary and benefits ranked as the top reason with 38%, followed by followed by limited opportunities for advancement and unhappiness with management at 20% and 16% respectively.

The survey was based on telephone interviews with more than 2,200 CFOs at companies in more than 20 of the largest US markets.