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Main » 2016 » January » 18 » Recognition is More Important than Pay, New ACCA Report Finds
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Recognition is More Important than Pay, New ACCA Report Finds

ACCA Report Examines How Behaviour Reflects Culture in Worldwide Organisations


Dubai, United Arab Emirates - Monday, January 18th 2016 [ME NewsWire]

A new report, Culture and channelling corporate behaviour: ACCA member survey, published by ACCA (the Association of Chartered Certified Accountants) has found that recognition at work is the highest motivator, regardless of age, industry or location – even outstripping monetary reward.  

The survey harnessed the views of almost 2,000 ACCA finance professionals from across the globe. The highest motivators for respondents that included the Middle East region, after recognition was getting to a more senior position followed by having more challenging work.  

Jo Iwasaki, ACCA Head of Corporate Governance, said:

“To promote ethical behaviour at work, the creation of an environment where people could comfortably discuss any concerns was rated highest among respondents. On the other hand, less people were convinced of the effectiveness of having a code of ethics in isolation or rewarding/punishing certain behaviour.  

“The survey highlighted some clear distinctions between employee views in Europe and America and Africa and Asia. For example in Africa and Asia rules and procedures play a larger role than for respondents in Europe. However, the tone of corporate leadership is vitally important in channelling the overall culture of an organisation in any region.”

“In all Asia and Africa 2/3 of respondents felt that performance related pay could lead to employees falsifying or exaggerating results, respondents from the Rest of Asia category – which includes the Middle East – were slightly less supportive of this. This shows the fine line employers need to tread when putting in place performance related targets and the need for careful consideration when linking them to pay.”

Konstantinos Stathopoulos, Professor of Accounting and Finance at Manchester Business School and co-author of the report, said:

“The survey results reveal there is no “one size fits all” strategy when it comes to building corporate culture and behaviour. Even though the role of leadership in setting the tone is highlighted in most responses, the survey uncovers significant differences in attitudes and perceptions regarding effective channels of corporate behaviour. These disparities are also intensified by differences in respondents’ geographic location, industry and characteristics.”     

Middle East respondents were drawn from across the region including Qatar, Saudi Arabia and the UAE. This is the final part in a series of four reports designed to help boards understand what constitutes corporate culture and how functional behaviours at work can better be promoted. The report was co-funded by the ESRC (Economic and Social Research Council). A full copy of the report is available here: http://www.accaglobal.com/content/dam/ACCA_Global/Technical/hc/caccb-member-survey-results.pdf

- ends -

Notes to Editors

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. It offers business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.

ACCA supports its 178,000 members and 455,000 students in 181 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 95 offices and centres and more than 7,110 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence.

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers. More information is here: www.accaglobal.com

About the ESRC

The Economic and Social Research Council (ESRC) is the UK’s largest funder of research on the social and economic questions facing us today. It supports the development and training of the UK’s future social scientists and also funds major studies that provide the infrastructure for research. ESRC-funded research informs policymakers and practitioners and helps make businesses, voluntary bodies and other organisations more effective. The ESRC also works collaboratively with six other UK research councils and Innovate UK to fund cross-disciplinary research and innovation addressing major societal challenges. The ESRC is an independent organisation, established by Royal Charter in 1965, and funded mainly by the Government. In 2015 it celebrates its 50th anniversary.

Contacts

Ray Allger, ACCA Newsroom

tel: +44 (0)20 7059 5788

mob: +44 (0)7540 919819

email: ray.allger@accaglobal.com

 

 

 

 

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