Demands for Promotions and Pay Bumps Are on the Rise

43 Per cent of CFOs Say Raise or Promotion Requests Have Increased from Two Years Ago, According to Accountemps Survey

TORONTO, Nov. 20, 2014 /CNW/ - If managers are not already fielding requests from employees for raises and promotions, they soon may be, a new Accountemps survey suggests. An improving economy and higher demand for skilled workers means professionals are more confident in their job prospects and on the hunt for bigger paycheques and loftier titles. Forty-three per cent of chief financial officers (CFOs) interviewed said the number of requests for raises or promotions has increased from two years ago.

The survey was developed by Accountemps, the world's first and largest specialized staffing service for temporary accounting, finance and bookkeeping professionals. It was conducted by an independent research firm and is based on interviews with more than 270 CFOs from a stratified random sample of Canadian companies.

CFOs were asked, "Has the number of employee requests for promotions or raises increased or decreased compared to two years ago?" Their responses:

Increased	43%
Stayed the same	45%
Decreased	8%
Don't know or refused to answer	4%
	100%

"It's a simple supply and demand equation-- in today's competitive hiring environment, employers must offer competitive compensation packages to not only attract but also retain talented employees," said Dianne Hunnam-Jones, Canadian district president of Accountemps. "Managers should review hiring and salary trend research to help benchmark their compensation strategies, so they can be better prepared when evaluating requests for raises and promotions."

Hunnam-Jones encourages employers to also understand that there is more to retention than just employee salaries. "Be proactive and connect with top performers to identify opportunities for advancement and viable career paths. Also, consider alternate options when pay increases are not viable, such as additional vacation time or a flexible working arrangement."

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

Image with caption: "Requests for Pay Bumps and Promotions (CNW Group/Accountemps)". Image available at: http://photos.newswire.ca/images/download/20141120_C8560_PHOTO_EN_8322.jpg

SOURCE: Accountemps

Naz Araghian, 416.865.2140, [email protected]