Salary top draw for job hunters; benefits second

Job candidates do not select companies based on pay alone, according to a recent survey.

The majority – 37 percent – of the chief financial officers interviewed by Robert Half International, a staffing services firm, revealed offering higher compensation than competitors is still the most effective incentive for attracting professionals.

However, according to the survey, nearly as many CFOs said the benefits package had the greatest influence on their decision, up from just 2 percent five years ago.

The findings also suggest traditional incentives are a high priority. Attractive benefits bundles surged, while financial executives citing telecommuting and flexible work schedules as top draws fell 20 points, from 33 percent in 2003 to 13 percent in 2008.

Robert Half International specializes in accounting and finance staffing.

It developed the survey, which was conducted by an independent research firm.

More than 1,400 CFOs nationwide were interviewed.

The survey suggests that rising medical costs have put a higher premium on healthcare benefits options, and employers should be ready to respond accordingly.

“Companies that do not provide comprehensive employment packages, including competitive compensation and insurance programs, risk losing top job candidates to other opportunities,” said Max Messmer, chairman and CEO of Robert Half International and author of “Human Resources Kit for Dummies.”

“Whether it’s higher salaries and enhanced healthcare coverage or accelerated career-advancement opportunities,” Messmer said, “employers should determine and effectively communicate what makes their company a great place to work when speaking with prospective employees.”