Attracting and retaining top-tier finance professionals is a critical priority for organisations. Skilled finance employees are in high demand, and businesses that fail to offer compelling reasons for employees to join — and stay — risk falling behind. Andrew Pownall, Moir Group’s Senior Associate for Executive Search, says organisations must invest in professional development and workplace culture to secure high-calibre finance employees.
However, many companies struggle to maintain a strong financial workforce due to evolving job expectations, rising competition, and shifting employee priorities. To build a robust finance team, businesses must adopt strategic approaches that align with professional’s aspirations and market trends.
In this article, we share practical strategies to both attract and retain your top employees.
Understanding the current finance workforce landscape
The finance sector is experiencing an intense war for talent. According to Andrew, “… the demand for finance professionals is outpacing supply, driven by rapid industry transformation and digitalisation. Companies must not only compete on salary but also provide a holistic employment package. This includes career growth, flexibility, and purpose-driven work.”
LinkedIn’s 2024 Accounting and Finance Employment Sector report states that finance roles have seen a 7% increase in job postings year-over-year. This has further intensifyed competition for skilled professionals. Moreover, salary expectations have risen by an average of 5% in the past year, requiring businesses to offer more attractive remuneration packages. “To stand out, businesses must position themselves as employers of choice,” said Andrew.
Strategies to attract top finance professionals
1. Positive workplace culture: A strong workplace culture is a key driver for attracting finance professionals. Employees seek organisations that align with their values and offer an inclusive, engaging work environment. “Firms that foster a culture of collaboration and innovation are more successful in hiring and retaining staff,” explained Andrew.
2. Professional development opportunities: Investing in employee development is essential for attracting finance professionals. Companies that provide ongoing training, mentorship, and structured career paths are more likely to attract ambitious professionals eager to enhance their skills. The LinkedIn report also found that 60% of finance professionals consider career development opportunities as a key factor when choosing an employer.
3. Competitive compensation and benefits: While salary remains a crucial factor, comprehensive benefits packages, including bonuses, healthcare, and retirement plans, can set employers apart. Moir Group’s 2024-25 Salary Guide highlights that finance professionals in mid-level roles have experienced salary increases of up to 8%, making competitive compensation essential for talent attraction.
4. Emphasis on ESG (Environmental, Social, and Governance) initiatives: Employees are increasingly drawn to companies that prioritise ESG principles. Andrew added: “Organisations that integrate sustainability and corporate responsibility into their mission attract finance professionals who want to contribute to ethical business practices.”
Strategies to retain top finance professionals
1. Work-life balance and flexibility: Providing flexible work arrangements is essential for employee retention. “Companies offering hybrid or remote work options see higher levels of employee satisfaction and lower turnover rates,” said Andrew. According to LinkedIn, 58% of finance professionals consider remote work options a decisive factor in staying with their current employer.
2. Regular feedback and open communication: Transparent communication and regular performance discussions help employees feel valued and engaged. Research from BusinessThink UNSW suggests that finance professionals stay longer at companies where they receive constructive feedback and clear career guidance.
3. Career advancement opportunities: Employees are more likely to stay with organisations that offer internal mobility and career progression. “It is no surprise that firms with well-defined growth pathways experience higher employee retention rates,” Andrew added.
4. Recognition and reward systems: Acknowledging employee contributions through incentives, recognition programs, and performance- based rewards fosters a sense of belonging. “That recognition is a key driver of job satisfaction and long-term retention.” Moir Group reports that 75% of finance professionals cite recognition and career advancement as the primary reasons they stay with an employer.
The role of leadership in talent attraction and retention
Effective leaders cultivate trust, foster career growth, and create dynamic, engaging workplaces. Employees are more likely to stay committed to organisations that offer strong leadership and a clear strategic vision. “Inclusive leadership, which prioritises employee wellbeing and professional growth leads to higher levels of engagement and productivity. Leaders who actively support their teams contribute to a culture of stability and innovation. This makes a big difference,” said Andrew. To remain competitive, teams should continuously assess and refine their recruitment strategies, ensuring they meet the evolving needs of finance professionals in an increasingly dynamic market.
Moir Group is a specialist finance, accounting and ESG recruitment company. We cover temporary and permanent roles from Assistant Accountant to CFO level. We also recruit Sustainability / ESG Manager roles to Chief Sustainability Officer roles across all industry sectors.
If you have any recruitment needs in your team on a permanent or a temporary basis, we would be delighted to assist. Contact us here. Moir Group runs many events across the year. Sign up for our upcoming events here.