Managing Your Cash Flow

UK finance professionals feel undervalued by their employer

2 min read

21 November 2014

Former deputy editor

Brits working in the finance sector feel as though their work isn't being recognised by their company as 60 per cent claim to feel undervalued, a study from expenses management service webexpenses shows.

The majority believe it’s because their work is forgotten and unappreciated as they provide “behind the scenes support” rather than working front of house. The data also reveals 53 per cent believe their colleagues who work in other divisions of their business receive a different level of respect than they do.

Another 53 per cent feel they’re rarely viewed as a key part of the business strategy, and 51 per cent think their colleagues don’t understand how influential their role is to the company.

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The results show that 28 per cent think dealing with tasks that common sense could solve is the largest nuisance, while 27 per cent said it’s people not prioritising finance tasks, and 23 per cent said it’s processing expense claims – particularly when staff fail to provide the right receipts and information on their forms.

Michael Richards, chairman of webexpenses, said: “It’s clear from our research that many of the UK’s finance professionals feel undervalued and are often frustrated by certain aspects of their job.

“Too many businesses still view finance as a function. They are missing out on the benefits that could be reaped if finance professionals are given the time, autonomy and respect that will enable them to play a more strategic role.”

Indeed, 76 per cent say with more power they could save money for the business and 40 per cent of those claim they could achieve savings of more than £10,000 annually.

As for the things they love about their role, 49 per cent said they enjoy liaising with colleagues from different departments, 47 per cent enjoy the complexities involved with solving financial issues and 45 per cent like seeing the physical results they’ve helped to bring into the business.

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