How to Stop Losing Finance Talent to Your Competitors
Your Best Finance People Are Being Poached – Here’s How to Keep Them
You’ve built a solid finance team.
- They’re smart, commercially sharp, and integral to your business.
- They seem happy (at least on the surface).
- You haven’t had any resignations recently… or so you think.
Then, out of nowhere, you get the dreaded email:
- “I’ve decided to accept another opportunity.”
- “I wasn’t actively looking, but something came up…”
- “It’s not you, it’s me.” (But let’s be honest—it is you.)
Your top finance talent is being poached—and your competitors are winning.
Here’s how to stop losing your best people before it’s too late.
1. Benchmark Your Salaries (Before a Recruiter Does It for You)
If your competitors are paying more, your best finance talent will leave.
Biggest mistakes companies make:
- Assuming loyal employees won’t leave for a better offer.
- Only reviewing salaries when people resign.
- Guessing at market rates instead of using real salary data.
What to do instead:
- Use salary benchmarking (hello, We Do Benchmark!) to ensure you’re competitive.
- Proactively offer raises—don’t wait for them to ask.
- Make sure your best people are earning what they’re worth before they start job hunting.
Rule of thumb: If a recruiter can offer them £10K more, they’re already listening.
2. Offer a Career Path (Not Just a Paycheck)
Top finance professionals aren’t just looking for a salary—they want a future.
If they can’t see a clear career path, they’ll find one elsewhere.
What makes them leave?
- No clear promotion structure.
- Lack of leadership development.
- Watching external hires get the best opportunities.
What makes them stay?
- A defined roadmap for progression—where could they be in 12-24 months?
- Opportunities to take on bigger projects and responsibilities.
- Exposure to leadership and strategic decision-making.
How to fix it:
- Regular career development conversations—not just annual reviews.
- Promote internally before looking externally.
- Give your top performers leadership exposure before they officially step up.
Rule of thumb: If they can’t see a future with you, they’ll find one somewhere else.
3. Make Work-Life Balance a Priority (Yes, Even in Finance)
If your finance team is overworked and under appreciated, recruiters will swoop in fast.
What makes them quit?
- Long hours with no flexibility.
- An “always on” culture where burnout is the norm.
- Rigid office policies when competitors offer hybrid working.
What makes them stay?
- A results-based culture—not one that rewards “who stays the latest.”
- Flexibility as standard—hybrid working should be the norm, not a perk.
- A team culture that values efficiency over just working long hours.
How to fix it:
- Give finance professionals the autonomy to manage their own time.
- Normalise flexible working—don’t make people feel guilty for using it.
- Lead by example—if senior leaders never take a break, neither will the team.
Rule of thumb: If your competitors offer better work-life balance, your best people will leave.
4. Recognise and Reward Them Before They Feel Invisible
Finance teams often operate behind the scenes—don’t let them feel forgotten.
If they feel undervalued, they’ll start looking for a company that appreciates them.
Common recognition mistakes:
- Only rewarding sales and front-line teams.
- Assuming “their salary is enough recognition.”
- Never celebrating their wins.
How to fix it:
- Make finance team contributions visible—celebrate their impact on the business.
- Offer meaningful incentives—bonuses, extra holidays, or leadership development.
- Acknowledge their hard work in company-wide communications.
Rule of thumb: If finance feels like a ‘background function,’ they’ll leave for a role where they feel valued.
5. Strengthen Your Company Culture (So They Don’t Want to Leave)
People don’t just leave jobs—they leave cultures that don’t support them.
What makes them disengage?
- Toxic leadership or micromanagement.
- A lack of transparency in company decisions.
- A “just do your job” mentality instead of a culture of collaboration.
What makes them stay?
- A finance culture that encourages ownership, not just tasks.
- A team where they feel like a valued business partner, not just a cost centre.
- An environment that makes them excited to work, not just show up.
How to fix it:
- Get regular feedback from your finance team—what’s working, what’s not?
- Ensure leadership is accessible, supportive, and engaged.
- Create a workplace where finance feels integral to business success.
Rule of thumb: If they don’t enjoy coming to work, they’ll find somewhere else to go.
6. Handle Counteroffers Like a Pro
If one of your best finance professionals gets an offer elsewhere, how you respond is crucial.
What companies get wrong:
- Panic counteroffers—throwing money at them without fixing the real issues.
- Ignoring why they were looking in the first place.
- Being reactive instead of proactive.
What works better:
- Ask why they’re considering leaving—then address those issues long before they resign.
- Ensure they feel valued every day, not just when they have another offer.
- Make it clear why your business is the best place for their long-term career.
Rule of thumb: If the first time you’re valuing them is when they resign, it’s already too late.
Final Thought: Stop Playing Defence—Start Retaining Your Best People Now
Retention isn’t about reacting when people quit—it’s about making them want to stay in the first place.
Smart businesses are:
✅ Benchmarking salaries to stay competitive. (We Do Benchmark!)
✅ Providing clear career paths—not just keeping people in the same role forever.
✅ Creating flexible, supportive workplaces where finance professionals thrive.
✅ Building strong cultures that make top talent want to stay.
✅ Recognising their best people before recruiters get to them.
Want to make sure your finance team isn’t quietly job hunting?
- We Do Benchmark ensures your salaries are competitive—so you don’t lose top talent to recruiters.
- We Do Group finds and secures top-tier finance professionals—before your competitors do.
