For years, the standard response to retaining a valued finance professional was fairly predictable: review the salary, offer an increase and hope they stay.
Competitive pay still matters. In finance, where skilled professionals have options and salary expectations are closely tied to qualifications and experience, employers cannot afford to fall significantly behind the market.
But salary alone is becoming a weaker retention strategy.
Finance professionals are paying closer attention to how they work, where their careers are heading and what they receive from an employer beyond their monthly salary. For South African businesses competing for experienced accountants, finance managers, analysts and senior finance leaders, that requires a broader approach to finance talent retention.
What South African finance professionals are telling employers
CA Financial Appointments’ Western Cape Finance Talent Insights 2026 provides a useful snapshot of what is happening in the market.
Among the finance and accounting professionals surveyed, 21% cited flexibility as the number one reason they currently stay with their employer, compared with 19% who cited compensation.
The report also found that 62% ranked hybrid flexibility as their most valued benefit, while 50% valued career progression. Perhaps most tellingly, 44% said they would consider a lateral career move purely for better hybrid flexibility.
These findings suggest that employers need to look beyond remuneration when asking why good people stay, and why they leave.
-
Flexibility has become part of the employment package
Hybrid working is no longer viewed by many finance professionals as an occasional perk.
CA Financial Appointments’ research found that 80% prefer some form of hybrid working arrangement, yet 40% of respondents currently work fully office-based.
That gap matters.
A finance professional may be satisfied with their salary but still become receptive to another employer offering greater control over where and how they work.
This doesn’t mean every finance role can or should be fully remote. Month-end processes, stakeholder meetings, team development and certain regulated environments can benefit from face-to-face collaboration.
The opportunity is to offer flexibility where the role genuinely allows it and to communicate the arrangement clearly.
A well-defined hybrid policy is far more valuable than vague promises of “flexibility”.
-
Career progression needs to be visible
Employees don’t only leave because they’re unhappy. Sometimes they leave because they can’t see what comes next.
In CA Financial Appointments’ 2026 survey, career growth received the lowest satisfaction score of all eight workplace dimensions, at 2.83 out of 5. It was also identified as the second-largest resignation trigger, behind higher salary.
This is an important distinction for employers.
A finance professional may enjoy their team, perform well and receive a competitive salary, but if they have been doing essentially the same job for three years with no clear path forward, another opportunity becomes increasingly attractive.
Career pathing doesn’t necessarily require constant promotions. It can include greater commercial exposure, mentoring, leadership responsibility, professional development or involvement in strategic projects.
Managers should be having these conversations before an employee starts looking elsewhere.
-
Benefits need to reflect what people actually value
Traditional benefits remain important, particularly in South Africa where medical aid and retirement planning can represent a meaningful part of an employee’s total package.
But employers should avoid assuming that every benefit carries equal weight.
CA’s survey found that finance professionals particularly value hybrid flexibility, bonus structures, career progression, pension or provident fund contributions, medical aid and learning and development funding.
The strongest package isn’t necessarily the one with the longest list of benefits. It’s the one that reflects the priorities of the people you’re trying to attract and retain.
This is where regular employee feedback can be valuable. Rather than guessing what people want, ask them.
-
Learning and development cannot be an afterthought
Finance is changing quickly.
Automation, AI, data analytics, regulatory developments and new financial technology are changing the skills businesses require from their finance teams.
Professionals know they need to keep developing too.
Yet CA’s research found that satisfaction with learning and development scored only 2.89 out of 5, while 27% ranked L&D funding as a valued benefit.
That creates a relatively straightforward opportunity for employers.
Funding professional qualifications, technical courses or leadership development can improve capability while demonstrating that the business is invested in the employee’s longer-term career.
Retention needs to start before the resignation
One of the clearest findings from the survey relates to counteroffers.
84% of respondents said they would reject a counteroffer today, while 54% said nothing would make them reconsider once they had decided to leave.
By the time a strong employee resigns, the retention conversation may already be months too late.
Businesses should instead watch for earlier warning signs, such as limited progression, declining engagement, inflexible working arrangements or repeated concerns about remuneration and leadership.
Regular career conversations and market-related salary reviews are far more effective than scrambling to respond to a resignation.
Retaining finance talent across borders
These considerations also matter to international businesses building finance teams in South Africa.
Competitive South African salaries can make the market attractive to overseas organisations, but sustainable cross-border hiring still requires an employment proposition that works for the employee.
Through its Employer of Record (EOR) offering, CA Financial Appointments helps international organisations employ South African finance professionals without first establishing a local entity. Alongside specialist recruitment, EOR support helps businesses navigate local employment, payroll and compliance requirements while building teams in South Africa.
For international employers, getting the employment structure right is only the beginning. Flexibility, career development, communication and meaningful opportunities remain central to retaining the people they hire.
A retention strategy built for today’s finance market
CA Financial Appointments has specialised in finance recruitment since 1997, supporting employers across Commercial Finance, Financial Services, Executive Search, Permanent Recruitment, Temporary and Contract Recruitment, and Employer of Record solutions.
That breadth gives us visibility into both sides of the employment conversation: what businesses need from finance professionals and what talented candidates increasingly expect from employers.
The lesson from today’s market is fairly simple. Pay people competitively, but don’t stop there.
Give good finance professionals a reason to picture themselves in your organisation two, three or five years from now. Create visible career paths, offer meaningful flexibility where possible, invest in their development and build benefits around what employees genuinely value.
The strongest retention strategy isn’t the counteroffer you make when someone resigns. It’s the experience you create that means they weren’t looking to leave in the first place.
Connect with us on LinkedIn:
https://www.linkedin.com/company/cafinancialappointments/
Learn more about our EOR solution:
https://ca.co.za/scale-your-finance-team-with-south-african-talent/
