Many employers are pulling out all the stops to attract employees with in-demand skills, including offering better benefits, higher pay, and improved training and development opportunities, according to a new survey of CFOs by specialized staffing service Accountemps.
More than 2,100 CFOs across the country were asked about the strategies they've adopted or are considering adopting to access professionals with in-demand skills. The top six strategies included the following:
Improving benefits (46 percent)
Increasing compensation (45 percent)
Investing in training and development of internal candidates (42 percent)
Bringing in temporary workers (26 percent)
Hiring talent from another city and allowing a remote work arrangement (21 percent)
Paying relocation expenses for top candidates (19 percent)
Accountemps Chairman Max Messmer said in a written statement competition for highly skilled workers remains intense in many specialty industries.
"Boosting compensation and adding incentives is a useful first step for attracting talent, but it's equally important for businesses to develop the abilities of workers already on staff", said Messmer, author of Human Resources Kit For Dummies, 3rd Edition. "If organizations can't quickly hire or promote from within, they increasingly bring in temporary staff to access specialized skills not available internally."
Five Tips to Build an Exceptional Team
Accountemps provides the following five ways that managers can build an outstanding team:
1. Realize it's about more than money. High performers expect compensation that matches their experience, but they also seek advancement opportunities. During the hiring and onboarding process, demonstrate that your organization offers professional development programs that can help them – and the company – grow.
2. Develop your internal team. Identify less-experienced employees who show potential and pair them with mentors who can help guide their career with the company.
3. Offer stretch assignments. Provide internal staff with challenging projects just beyond their comfort zone. It will expand their skill sets and build their confidence.
4. Hire and train to your needs. Don't fill vacant positions without considering your future needs. Align your hiring plans with the organization's areas of growth and consider cross-training programs that will enable existing employees to move into high-demand roles.
5. Monitor workloads. Your best employees can often be saddled with the most work – and could quickly burn out as a result. Bring in skilled temporary professionals to relieve overburdened staff and support resource-intensive projects.
About the survey:
The survey was developed by Accountemps, a specialized staffing service for temporary accounting, finance, and bookkeeping professionals. It was conducted by an independent research firm and is based on interviews with more than 2,100 CFOs from a stratified random sample of companies in more than twenty of the largest US markets.