CFOs Report on Third-Quarter Financial Hiring Projections
By Robert Half
Financial executives expect to continue hiring accounting and finance professionals in the third quarter, according to the Robert Half Financial Hiring Index, although at a more moderate rate than during the second quarter. Six percent of chief financial officers (CFOs) surveyed anticipate adding employees and three percent forecast personnel cutbacks. Ninety percent of those polled foresee no changes in staff levels. Respondents cited rising workloads as the primary driver of hiring.
The national poll includes responses from more than 1,400 CFOs from a stratified random sample of U.S. companies with 20 or more employees. It was conducted by an independent research firm and developed by Robert Half International.
“Companies have become more strategic in their hiring efforts and are looking for individuals who combine strong technical expertise with outstanding communication skills,” said Max Messmer, chairman and CEO of Robert Half International.
“Once solid candidates are identified, employers are moving quickly to bring them on board,” Messmer added. “The demand for skilled accounting and finance professionals remains strong, and firms must find ways to differentiate themselves — from providing higher compensation and better benefits to enhancing the work environment — to attract top performers.”
Accounting and Financial Hiring — By Region
The Mountain1
and West South Central2 states forecast the greatest gains in hiring. In each region, 10 percent of
financial executives said they plan to add staff and one percent expect
reductions in personnel — a net nine percent increase.
“The tight labor market in the Mountain states is causing many organizations to offer higher salaries and additional perks to secure financial talent,” said Messmer.
“In the West South Central, hiring is being led by the manufacturing and oil and gas industries,” added Messmer. “In particular, businesses need staff accountants who can assist with growth initiatives.”
CFOs in the East South Central3 region also anticipate above-average hiring activity. A net six percent of financial executives plan to bring in full-time accounting and finance employees during the quarter.
Robert Half conducted additional CFO interviews in major metropolitan areas to provide more detailed analyses of financial hiring trends in these markets. The local results are available at www.roberthalf.com/PressRoom.
Accounting and Financial Hiring — By Industry
Among industries, CFOs in construction are the most optimistic about
hiring in the third quarter. Nine percent anticipate increasing staff levels
and one percent foresee personnel reductions — a net eight percent increase.
Hiring activity in manufacturing is also expected to outpace the national forecast with a net seven percent of financial executives anticipating bringing in new employees in the quarter. A net six percent of CFOs polled in both the retail and wholesale sectors indicated they plan to add accounting and finance professionals to their teams.
[1] Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming
[2] Arkansas, Louisiana, Oklahoma, Texas
[3] Alabama, Kentucky, Mississippi, Tennessee
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. The company has more than 350 staffing locations throughout North America, Europe and the Asia-Pacific region, and offers online job search services on its divisional Web sites, all of which can be accessed at www.rhi.com.