Fed: Most accountants set for pay increase:survey

AAP General News (Australia)
04-01-2010
Fed: Most accountants set for pay increase:survey

Eds: Embargoed until 0001 AEDT Thursday, April 1



By Colin Brinsden

CANBERRA, April 1 AAP - A majority of accountants and finance staff are likely to receive
a pay increase in the next 12 months, having missed out in 2009, a new survey has found.

The research by specialist finance recruitment firm Robert Half found 69 per cent of
organisations expect to increase their staffers' wages by up to 4.4 per cent.

Robert Half said this reflects a strengthening finance sector and moves to retain staff,
with recent Australian Bureau of Statistics data showing a 23,000 increase in finance
workers in the past three months.

"We have definitely seen this confidence reflected on the ground, with many of our
clients looking for salary guidance given the changing economic environment," Robert Half
director Andrew Brushfield said releasing the survey on Thursday.

The survey of 330 finance, accounting and HR professionals also found that 82 per cent
of current staff expect a salary increase.

Mr Brushfield cautioned that a meagre 4.4 per cent increase may not be enough to satisfy
expectations.

"Many finance and accounting staff missed a pay increase in 2009 and have been waiting
almost two years for a raise," he said.

"With inflation expected to peak at three per cent, employers can't expect their staff
to be satisfied with only a 4.4 per cent salary increase."

The survey found that 30 per cent of employers are prepared to increase their finance
and accounting staff this year, with 85 per cent of these planning to fill new positions
rather than replace old ones.

As a result of the global financial crisis many organisations were forced to restructure
their teams to increase productivity, while poor performers were shown the door.

"This situation has not only resulted in a number of new positions which now require
filling, but has highlighted the true star performers and the need to support them," he
said.

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KEYWORD: ACCOUNTANTS (EMBARGOED)

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