Don’t Forget about Generation X

(Business Finance, 24 January 2012)

In Brief: Companies cannot afford to focus exclusively on attracting and retaining younger Generation Y workers, they also need to cater to the values of Generation X employees, which include increased workplace autonomy and better work/life balance. This article advises organizations to have “flexible value propositions” and to consider offering non-financial benefits such as on-site clinics, fitness centers, and coaching services.

Our View: In the wake of significant finance staff burnout and high turnover rates, CFOs are struggling to address major shortages in both technical finance and decision support skills. The frenzied market for finance talent spotlights the need for a CFO to put effective strategies in place to attract and retain the highest-caliber finance professionals. Our research shows that many teams have misdirected their performance management efforts by focusing solely on compensation-driven strategies to stem finance turnover. The best companies address their staff’s chief concerns about non-monetary attributes, including promotion opportunity and the quality of direct managers.