Press Release
Media Release - 08 May 2006
Survey shows lack of investment in PQs encourages job swaps after qualifying
According to a recent survey conducted by Kelly Financial Resources (KFR), a specialist division of Kelly Services, the global recruitment agency and PASS magazine, almost half of PQs (43 per cent) leave their job as soon as they pass their exams. Many companies employ PQs for the finance team but are not investing heavily in them until they are qualified. This survey reveals that by then, it is often too late.
The PQ employment market has grown increasingly buoyant over the last two years with more and more employers taking on large numbers of PQs as a less experienced but cheaper resource. Unfortunately, as this survey suggests, these companies are not investing sufficiently in the job attributes of interest to PQs, particularly career development.
Although money is often perceived as the key driver, it ranked second to the primary motivator, career development (53 per cent).
Sam Rope, head of Kelly Financial Resources UK said, “Recruitment agencies are the first port of call for over half (55 per cent) of all candidates seeking a new job externally from their current employer. We are perfectly placed to hear why PQs are moving jobs so quickly. Companies are really losing out by not developing good PQ talent. They should be investing in the future and not just trying to save a few pounds in the short term – there’s a great staff retention improvement opportunity on their doorstep.”
Recommendations for best practice to retain top PQ talent:
- Implement an ongoing career and succession plan for all PQs before during and after exams. This should be done in conjunction with a PQ’s line manager to ensure transparency about career development.
- Mentor all PQs before, during and after examinations to provide supportive guidance. This should be done by someone other than their line manager. It can facilitate a clearer perspective to make future decisions, plan their career strategy and support personal development in the workplace.
- Salary and status grading throughout a PQs career to give them clarity on what they are working towards once they have completed their exams.
- Introduce clauses such as payback of fees if PQs leave within a set time frame to make them think twice about jumping ship once they have passed their exams. Such clauses must be supported by clearly defined career development plans as illustrated in the points above.
Full results are available on request
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About Kelly Services
Kelly Services, Inc. (NASDAQ: KELYA, KELYB) is a Fortune 500 company headquartered in Troy, Mich., offering staffing solutions that include temporary staffing services, staff leasing, outsourcing, vendor on-site and full-time placement. Kelly owns and operates nearly 2,600 offices in 30 countries and territories. Kelly provides employment to more than 700,000 employees annually, with skills including office services, accounting, engineering, information technology, law, science, marketing, light industrial, education and health care. Revenue in 2004 was $4.98 billion. Visit http://www.kellyservices.com.
For more information
For further information please contact Kelly Services. Tel: 020 7614 5650 or email: communications@kellyservices.co.uk
