June 29, 2010

Survey finds most CFOs confident about Q3 hiring plans

TORONTO--Nine per cent of chief financial officers (CFOs) interviewed for the Robert Half Financial Hiring Index said they plan to hire full-time accounting and finance employees during the third quarter of 2010, while 9 per cent anticipate staff reductions. The majority of respondents (81 per cent) do not expect to make changes to their personnel levels.

Despite the conservative forecast, CFOs remain optimistic about the outlook for their businesses. Eighty per cent of respondents said they are very or somewhat confident in their firms' growth prospects for the next three months, the same figure reported the previous quarter.

The Robert Half Financial Hiring Index is based on telephone interviews with more than 270 CFOs across Canada. It was conducted by an independent research firm and developed by Robert Half International, the world's first and largest staffing services firm specializing in accounting and finance.

"While many firms remain cautious, some are hiring selectively to ensure they have personnel in place to capitalize on emerging business opportunities, said Kathryn Bolt, president of Robert Half International's Canadian operations. "To manage increased demand, companies also are employing a flexible staffing strategy, supplementing full-time hires with highly skilled temporary professionals on an as-needed basis."
CFOs in the manufacturing industry are most optimistic about their hiring plans for the third quarter, with a net 15 per cent forecasting personnel increases. Hiring activity among business services and construction firms also is expected to outpace the national average, with a net 8 per cent and net 6 per cent of executives in those sectors, respectively, anticipating adding staff.

The Financial Hiring Index is conducted as part of the Robert Half Professional Employment Report, which tracks hiring trends among professional occupations.

Robert Half International was founded in 1948 and is traded on the New York Stock Exchange. Its financial staffing divisions include Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources, for temporary, full-time and senior-level project professionals, respectively.



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