Accountemps Monthly Newsletter – March

Hit a Retention Hole-In-One with Nonmonetary Perks that Work

3 Ways to Boost Employee Benefits without Hitting Your Spending out of Bounds

As competition for the best accounting and finance professionals heats up, retention of top talent has become a high priority for many firms. A recent Robert Half survey of workers and chief financial officers (CFOs) shows that in addition to competitive compensation, companies are upping their game by offering nonmonetary perks and other benefits. Here are three strategies for keeping your payroll staff happy, satisfied and teed up for success without shelling out a lot of extra green.

  1. More time off. Of the workers polled, 31 percent say the nonmonetary perk that tops the leaderboard are additional vacation days. This is not surprising, as time is one of those things that money can’t buy. Offer employees more days to relax and recharge, and you could see them hitting more payroll birdies and eagles.
  1. Telecommuting options. When your payroll specialists ask to work remotely, give it serious thought. Allowing for some commute flexibility might improve your staff’s spirit. Some employees will appreciate the ability to work from home, even if it’s only one or two days a week. The benefits of letting team members telecommute include higher morale, greater productivity and a better retention rate.
  1. Non-traditional hours. Flextime is a nonmonetary perk that allows your staff to work a full day without forcing them into a rigid schedule. Employees want flexibility in their start or finish time for many reasons, including avoiding the gridlock of rush-hour traffic, and managers should accommodate reasonable requests.

The CFOs polled by Robert Half thought their workers would value health and wellness benefits the most, but that nonmonetary perk was ranked fourth by workers. And while subsidized gym memberships and exercise classes make for a healthier workforce, the survey results suggest that staff members place a higher value on time than any other form of compensation.

To keep your top payroll talent, aim for the perfect shot with these cost-effective benefits and retention tools. By giving employees some choice over their work schedules, you’ll make it easier for them to maintain work-life balance, be more productive when they’re on the job and less likely to leave the game if one of your competitors offers them a little more money.

Accountemps, a Robert Half company, is the world’s first and largest specialized staffing firm for temporary accounting, finance and bookkeeping professionals. Accountemps has more than 340 locations worldwide. More resources, including online job search services and the Accountemps blog, can be found at