iscover What is most important to the modern accountant?
BusinessNew data has revealed what accounting professionals most value from their workplace and employer.
The latest survey from CA ANZ reveals accountants are moving with the times. Responses from more than 4,100 CA members have suggested that flexible working, meaningful work and supportive workplace culture are almost as important as salary.
Remuneration trends perhaps explain this growing list of demands. Of the 76 per cent of surveyed professionals, nearly half reported a pay rise of 2.5 per cent or less. Members aged between 20 and 29 saw the biggest benefits, with 21 per cent of this age group receiving a pay rise of over 10 per cent.
And while there were pockets of higher rates across ANZ, this appeared to be region-specific, rather than contributing to overall growth. Salary was far from the sole consideration for employees.
While it remained the ultimate factor in job search and retention, it appeared to have dropped in ranking, and featured in the top three for only 55 per cent of women and 60 per cent of men.
Nearly a third favoured work/life balance over salary.
Non-remuneration benefits were varied but trended in the same direction – flexibility, manageable workload, working from home were top considerations, while at the same time providing career progression, meaningful work, and good culture.
If this wasn’t motivation enough for employers, the survey also found that a third of respondents are considering leaving their current position within the year.
Remuneration trends also indicated the gender pay gap is still an issue – Australia’s number improved to 14 per cent, while New Zealand sits at 24 per cent. On the brighter side, understanding of the gender pay gap rose by 13 per cent compared to CA’s findings last year.
Gender was also a determining factor across non-remuneration priorities. Women showed a stronger interest in flexible work options and manageable workloads, which many feel is still connected to the balance of home duties.
Men also expressed an interest in flexible work and hours, but prioritised meaningful work and career progression at a higher rate.
CA ANZ chief executive officer Ainslie van Onselen said: “The data suggests that increasing access to flexible work arrangements for men could have broader societal benefit, enabling more equitable sharing of caregiving responsibilities and reducing the flexibility burden often shouldered by women”.
However, rates of flexible working are trending in the opposite direction. 23 per cent of respondents reported that workplaces allow less working from home, hinting that employer priorities are not always aligned with employee preferences.
And the data shows that confidence in negotiation for salary in particular varies according to demographics. Perhaps employers should consider employee preferences over trends if they hope to retain happy employees. As always, balance is key.
Amelia is a Professional Services Journalist with Momentum Media, covering Lawyers Weekly, HR Leader, Accountants Daily and Accounting Times. She has a background in technical copy and arts and culture journalism, and enjoys screenwriting in her spare time.
