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Financial Hiring Forecast more
positive for fourth quarter
Hiring in accounting and finance is
expected to increase in the final months of 2008, according to executives
interviewed for the most recent Robert Half International Financial Hiring
Index. Ten percent
of chief financial officers (CFOs) surveyed said they plan to expand the size of
their teams in the fourth quarter, while
5 percent anticipate
personnel reductions. The net
5 percent increase
is up five points from the third-quarter projection.
The Robert Half International
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 1992.
“Businesses need a strong financial
function to see them through all economic cycles,” said Max Messmer, chairman
and CEO of Robert Half International. “This has created ongoing demand for
accounting and finance staff with specialized abilities and expertise. In
particular, firms seek staff and senior accountants, financial analysts, and
internal auditors.”
Forty-four percent
of CFOs who expect to hire in the fourth quarter cited business growth as the
reason for the increased need for additional staff.
Forty-one percent
reported rising workloads as the primary driver.
Twenty-eight percent
of executives interviewed cited accounting positions as the most challenging to
fill. Twenty-two percent
of respondents pointed to operational-support roles, such as those in accounts
payable and collections, as the most difficult to staff.
The most active hiring is expected
to take place among firms with 20 to 49 employees, where a net
6 percent of CFOs
project adding staff. Eleven
percent of executives plan to hire full-time financial
professionals and 5 percent
anticipate decreasing personnel levels.
Accounting and Financial Hiring --
By Region
The East South Central1 and
New England2 states
should see the greatest gains in hiring during the fourth quarter. A net
7 percent of CFOs in
each region anticipate adding full-time accounting and finance professionals.
“Growth in the manufacturing sector
in the East South Central states is among the trends driving the need for
additional financial staff, particularly midlevel accounting professionals,”
Messmer said. “In the New England region, financial analysts are needed to help
firms identify further operating efficiencies.”
Accounting and Financial Hiring --
By Industry
Among industries, executives in
wholesale are most optimistic about hiring.
Thirteen percent of
CFOs anticipate adding accounting and finance employees in the fourth quarter,
while 1 percent
foresee a reduction in personnel, a net
12 percent increase.
The manufacturing sector also is
forecast to see hiring gains exceeding the national average, with a net
11 percent of
executives expecting to expand their staff levels during the final three months
of the year. In both the transportation and finance, insurance and real estate
industries, a net 8 percent
of CFOs plan to add personnel in the quarter. | 