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Benefits February 23, 2010
Money Talks When Rewarding Finance Professionals
February 23, 2010 (PLANSPONSOR.com) - Forty-six percent of chief financial officers (CFOs) interviewed cited bonuses as most effective in rewarding accounting teams after major projects.
Reported by Rebecca Moore
Accountemps announced that its survey found time off ranked a distant second, with 21% of respondents saying it was the most effective employee reward. CFOs also cited a departmental lunch or social gathering (15%) and tickets to sporting or entertainment events (4%) as effective rewards.
According to the announcement, 12% of CFOs said they do not reward their teams following a major project.
“For those employees who have taken on added responsibilities as a result of staff cutbacks, offering some form of cash recognition can go a long way in demonstrating these extra efforts are valued,” said Max Messmer, chairman of Accountemps, in the announcement.
An independent research firm conducted the survey for Accountemps, a staffing service for temporary accounting, finance and bookkeeping professionals, among more than 1,400 CFOs from a stratified random sample of U.S. companies with more than 20 employees.