CFOs Optimistic About Second Quarter

Robert Half International
April 9, 2010 | COMMENTS

Seven percent of chief financial officers (CFOs) interviewed for the Robert Half International Financial Hiring Index say they plan to add full-time accounting and finance employees during the second quarter—the highest forecast since the first quarter of 2009, while 8% expect staff reductions. While a net decrease is projected, this is the second consecutive quarter in which the number of executives anticipating increases has risen and the percentage projecting staff cuts has fallen. Most respondents (85%) do not anticipate any changes to their personnel levels.

In addition, the survey found most CFOs are optimistic about the outlook for their businesses in the next three months. Eighty-four percent are at least somewhat confident in their companies' second-quarter growth prospects; 34% are very confident.

“While most businesses remain cautious, some companies are beginning to hire selectively to ensure they have the employees in place to capitalize on opportunities that may arise as a result of an improving economy,” said Max Messmer, chairman and CEO of Robert Half. “In some cases, firms are using temporary professionals to help meet workload demands and as a way to evaluate individuals for potential full-time positions.”

The Mountain states (Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, and Wyoming) are projected to see the most active hiring in the second quarter, with a net 4% of CFOs in the region expecting to add full-time accounting and finance employees.

“Education and health services are among the sectors that have consistently added new jobs in the Mountain region,” Messmer noted. “Demand also is increasing for mid- to senior-level professionals in public accounting, as well as for accounts payable and receivable and cost accounting staff.”

CFOs in the business services sector are most optimistic about their hiring plans for the second quarter, with a net 2% of executives forecasting personnel increases. Six percent of respondents anticipate expanding their teams and 4% expect to reduce staff levels.