Accounting Principals, an accounting and finance staffing provider, has published its 2011 Salary Guide, containing up-to-date information on the current compensation trends of finance and accounting professionals across small, medium and large businesses in the U.S.
The annual salary guide is a compilation of nationally collected data, and reflects trends seen locally across Accounting Principals' network of more than 80 branches around the country.
Also in the 2011 Salary Guide, Ron Insana, CNBC senior analyst and commentator, offers his insights for rebuilding confidence by looking beyond the hype and taking note of the strong economic growth indicators that already exist today.
The 2011 Salary Guide offers a look at the salaries of more than 140 finance and accounting job titles, including base salary and total cash compensation figures. Salary data is also broken down by company size, ranging from those with less than $50 million to more than $200 million in annual sales. In addition, national multipliers, calculated based on salary averages in each metro
area, help determine a localized, more accurate compensation figure in each market.
Accounting Principals also conducted a survey of more than 600 accounting and finance business leaders, in cooperation with the Institute of Management Accountants. The survey found that employers rely heavily on job board postings and recruitment agencies to find their top talent today, with more than half of respondents claiming they utilize one of those channels. Only 13 percent reported hiring through employee referrals.
Many companies recognize existing retention issues, citing job burnout (19 percent), lack of professional development (17 percent) and compensation (17 percent) as the top reasons for employees leaving the company.
However, not all employers have a clear direction in terms of addressing the issue. While more than a third (35 percent) of companies plan to increase their attention on retention, a significant fraction of organizations plan to keep their policy unchanged (25 percent) or don't know what their course will be (33 percent).
Moreover, an overwhelming proportion of respondents admitted they rarely (46 percent) or never (28 percent) collaborate with the human resources department on retention policies, a critical piece of the puzzle in understanding and motivating the workforce.
"As economic recovery progresses, accounting and finance positions are poised to show robust job growth across the nation," said Accounting Principals president John Marshall in a statement. "By offering competitive compensation packages, companies can attract and retain the best and brightest talent to help build and maintain a workforce that can help navigate the regulatory changes that will affect all organizations and lead the way to a healthier, more successful business."
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