The battle to retain finance talent spurns loyalty programs in Belgium

Experienced professionals in finance and accounting are very much in demand in the Belgian labor market today. The annual edition of the Hays Salary Guide Finance and Accounting shows that good integration and guidance can prevent job hopping. Companies can stabilize their workforce by taking measures in the area of ​​loyalty. It is striking that for many employees a good balance between work and private life is more important than a wage increase.

Today, the war for talent continues to rage and the Belgian labor market is becoming tighter, including in the finance and accounting sector. This is apparent from Hays' Finance and Accounting Salary Guide. More than 70% of the 100 employers surveyed recruited a financial profile last year. Companies prefer people with experience. 33% opt for professionals who have been working for 5 to 10 years. 

"To respond to the changing digital market, companies are undergoing radical transformations," explains Ludovic Bessière, Business Director at Hays Belgium and France. “Experienced professionals in finance and accounting are highly sought after. They are essential for employers to support business change and ensure success."

Hays looked for the most requested profiles in the finance & accounting sector. Top 5 most popular jobs:

1.     Trilingual Accountant (FR, EN, NL)

2.     Business Controller/ Business analyst

3.     Junior Accountant / Assistant Accountant

4.     Accountant Receivable / Payable

5.     Credit Manager / Credit Collector

Work on integration and guidance

Companies can overcome the war for talent by investing in a good integration strategy. Both newcomers and employees who have been working for a while within a company need guidance, evaluation and feedback. 

“Recruitment does not stop when the employee accepts his job. A well-supported employee not only performs more efficiently, but also has a quicker response to issues. In many cases communication prevents the employee from switching to a new employer," explains Ludovic Bessière of Hays.

The salary guide shows that 56% of employers offer an integration program. Yet companies must improve their strategy and implementation. No fewer than 52% of the employees surveyed said they were unaware of such a program.

Comfort equals salary

A stable workforce requires loyal employers and motivated employees. Hays notes that salary is still an important mechanism for binding employees to a company, but is no longer the only criterion. Bessiere says, “Salary is just one way to keep employees happy. Ensuring a good balance between work and private life, flexibility, comfortable mobility and a pleasant working atmosphere is just as important."

Finally, it appears that young and older employees have different preferences. Employees between 18 and 25 years old want a good work-life balance. However, professionals between the ages of 46 and 65 prefer a fun atmosphere at work. The 26 to 35-year-olds category expects a salary increase. 

“You keep employees happy by taking into account the life phase that they are going through. In this way you see that professionals who start to settle down and build a family think payroll storage is important. On the other hand, older employees, whose children are often out of the house, expect a collegial and pleasant atmosphere,” concludes Bessière.

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