Finds Business Growth Primary Factor Driving Hiring
MENLO PARK, CA — Chief financial officers (CFOs) expect hiring activity in
accounting and finance to continue growing in the second quarter, although at a
more moderate pace, according to the Robert Half International Financial
Hiring Index. Nine percent of CFOs interviewed said they
plan to add full-time professionals and 5 percent anticipate
staff reductions. The net 4 percent increase is down two points
from the first-quarter forecast. The majority of respondents, 85
percent, anticipate no change in personnel levels.
Of those executives expecting to hire, approximately two in five (41
percent) attributed the demand to business growth, up 11 points from
the first-quarter Financial Hiring Index. Rising workloads was cited as
the primary reason by 34 percent of respondents.
The Financial Hiring Index is based on telephone interviews with more
than 1,400 CFOs across the United States. 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. Robert
Half has been tracking financial hiring activity in the United States since
“Businesses seek financial professionals for general accounting, internal
controls and compliance initiatives, among others,” said Max Messmer, chairman
and CEO of Robert Half International. “Sustained hiring in accounting and
finance over the past several years has resulted in an increasingly shallow
talent pool, and many employers continue to struggle to find professionals with
the requisite skills.”
Accounting and Financial Hiring — By
CFOs in the South Atlantic1 states are most optimistic about hiring in the
second quarter. Fourteen percent of financial executives expect
to add accounting and finance employees and 1 percent
anticipate reducing personnel levels, a net 13 percent increase
in hiring activity.
“The employment market for accountants in the South Atlantic region is
competitive, and, as a result, firms are finding they must move quickly to hire
promising job candidates,” Messmer said. “Organizations are looking for
professionals who possess the functional abilities to do their jobs as well as
strong interpersonal skills.”
Hiring also is forecast to outpace the national average in the New England2 and West South Central3 regions, where a net
7 percent and a net 5 percent of CFOs,
respectively, said they expect to add accounting staff.
Robert Half has conducted additional CFO interviews in more than 40 major
metropolitan areas to provide snapshots of financial hiring trends in these
markets. The local results are available at www.roberthalf.com/PressRoom.
and Financial Hiring — By Industry
The business services sector is expected to see the most active hiring during
the second quarter. Fourteen percent of CFOs anticipate hiring
financial professionals, compared to 4 percent who foresee
cutbacks, a net 10 percent increase in hiring activity.
Above-average financial hiring also is expected among construction companies.
A net 7 percent of executives said they plan to add personnel
in the second quarter of 2008.
About the Robert Half International Financial Hiring
First published in 1992, the Robert Half International
Financial Hiring Index was conducted by an independent research firm and is
based on more than 1,400 telephone interviews with CFOs from a random sample of
U.S. companies with 20 or more employees. For the study to be statistically
representative and ensure that businesses from all segments were represented,
the sample was stratified by geographic region and employee size. The results
were then weighted to reflect the proper proportions of employee size within
About Robert Half International
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 360 staffing
locations worldwide and offers online job search services on its divisional
websites, all of which can be accessed at www.rhi.com.