Research shows U.S. finance and accounting employees put in more effort as 2010 wore on, but were less thrilled with their jobs than workers in many other corporate functions were.
David McCann, CFO.com | US
March 16, 2011
These are great points. I would like to see compensation addressed in these studies. I believe organizations who don't provide pay to accounting and finance staff that is comparable to the rest of the staff at the companies they work at would have engagement issues with these employees. I also believe that at some point, continuous pay increases or bonuses will produce diminishing returns.However,substandard pay will severely cut into any motivation to do more than the minimum amount it takes to keep a job. I am well compensated in my current position but still see many companies trying to pay the bare minimum. I'm even seeing a decrease from where pay was before the economic downturn. This is depsite the fact that most companies are experiencing increased growth and profitability.
Posted by Brett Vogel | March 17, 2011 04:51 pm
Is there a direct link to the survey? I would imagine that like many reports and conclusions drawn from statistics, the devil is in the details. The concept of discretionary effort for finance-related jobs is pretty vague when you try to explain why someone puts in the extra work in their duties compared to others. IT specialists and others in technology related fields may appear to be full of types who would rather "get out on their own" to some degree. But I think another point to add, is that the incentive to give more discretionary effort in a finance occupation is often linked more to compensation than other fields. Consider that recent restrictions on pay has possibly become a factor in the extra effort given by finance folks. The idea is that it is usually the best practice to fully remunerate the people watching your money. So if firms are under pressure to restrict compensation and promotion opportunities in order to allow folks to keep their jobs, some of these finance personnel may not have the same incentives to be as diligent in their duties. An example of pay being a force in motivating discretionary effort could be the SEC's diligence in enforcing rules on Wall Street.
Posted by Mark Tyson | March 17, 2011 11:45 am© CFO Publishing Corporation 2009. All rights reserved.