Employers are expected to remain cautious about adding accounting and finance professionals in the third quarter, according to the Robert Half International Financial Hiring Index. Only 5% of chief financial officers (CFOs) expect to hire full-time employees during the third quarter while 8% anticipate personnel reductions. The majority of respondents (85%) say they plan to maintain their current staff levels.
"Many companies remain hesitant to commit to adding staff until they are certain of an economic recovery," says Max Messmer, chairman and CEO of Robert Half International. "In the meantime, most firms are working with their current teams to manage key initiatives, with some employers also bringing in project professionals to assist with rising workloads and supporting full-time personnel.
Financial executives continue to report difficulty finding highly skilled professionals for certain functional areas. Twenty-six percent of CFOs say accounting positions, such as senior and staff accountant posts, are the most difficult to fill. Twenty-three percent say they experience the greatest challenges when hiring for audit roles.
The Robert Half International Financial Hiring Index is based on telephone interviews with more than 1,400 CFOs across the United States.
Regional Outlook
While the overall outlook remains conservative, the highest degree of optimism was expressed by executives in the Eastern South Central (Alabama, Kentucky, Mississippi, Tennessee) and Western South Central (Arkansas, Louisiana, Oklahoma, Texas) states. A net 2% of CFOs in each of these regions anticipate adding full-time accounting and finance professionals in the third quarter.
"Growth among the healthcare and hospitality sectors in some areas within the East South Central states is boosting hiring activity in the region," Messmer notes. "In the West South Central, employers seek mid-career professionals who have a proven work history and are flexible and skilled enough to manage a range of accounting projects."
Robert Half commissioned additional interviews with CFOs in more than 40 major metropolitan areas to provide snapshots of financial hiring trends in these markets. The local results are available at www.roberthalffinance.com/PressRoom.
