Singapore - Even during the economic downturn, 82% of accounting and finance firms in Singapore still say they are "very concerned" or "somewhat concerned" about losing their best talent to the competition. 

This retention unease is highest in the Asia-Pacific region, according to the latest Robert Half Global Financial Employment Monitor. While Hong Kong employers are also worried about job retention (89%), Australia (61%) and Japan (60%) rank a lot lower on the list.

The survey also found 72% of Singapore respondents having difficulty finding skilled accounting and financial candidates. Some of the attributes employers say they have trouble looking out for include regulatory and compliance expertise (58%), experience and knowledge of industries and sectors (58%) as well as understanding of international markets (36%).

Tim Hird, managing director of Robert Half Singapore says as recruitment becomes increasingly stringent with their recruitment selection, companies are now looking out for candidates with the best mix of experience, technical ability, regulatory knowledge as well as a comprehensive knowledge of the industry.

While financial and accounting teams say their suffer from heavier workloads (58%), higher levels of stress (45%) and a lower morale (37%), companies are taking steps to help employees cope.

Some of the steps taken include redistributing work (56%), increasing the level of communication between managers and staff (46%) as well as postponing projects (39%).

"People priorities should not be dropped from the radar screen even as companies battle to manage costs and bottom-line efficiencies," Hird says. "Ultimately, employees are a company's biggest assets and those who continue to value and invest in their staff will be better positioned for success in the future."