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Finance and accounting professionals are looking beyond financial incentives and are instead opting for additional benefits, with a working from home allowance topping the list of demands, according to research by recruitment firm Robert Hall.
The news comes as recruiters expect competition for talent to intensify through the first half of 2024, with almost half of finance and accounting managers planning to boost headcount.
While research shows that recruitment challenges will show little sign of easing, the latest data suggests that employers need to offer more than the going rate to attract professionals.
Along with working from home, flexible benefits programmes, fuel allowance, meal vouchers and dental insurance are also priorities for new recruits.
Hannah Szymanski, market director finance and accounting at Robert Half, said: “While our data shows that pay inflation has increased across the remit, we are also seeing a rise in demand for more than financial incentives alone to move roles.
“For employers that are unable to continue with salary increases at current rates, this is good news, but it presents a new challenge in identifying what more potential candidates want.”
Simon Gray, head of business at ICAEW, added: “While salary will always be key, employees now want and expect much more. An organisation with purpose and clear values, flexibility on both the time and location work takes place and other benefits are of increasing importance.
“Working practices during the COVID-19 pandemic and challenges brought on by the cost-of-living crisis have changed both priorities and expectations, which are unlikely to reverse in the future.”
