A survey released by Robert Half International this week has put a positive light on hiring for accounting and finance professionals in the new year. Some 1,400 CFOs, representing nationwide companies with 20 employees or more, responded to their quarterly Financial Hiring Index, according to the Denver Business Journal.
“Continued hiring, driven by business expansion, rising workloads and ongoing compliance initiatives, has created a tight labor market for skilled accounting and finance professionals. This is prompting increased competition for the best talent, especially for positions such as staff and senior accountant, internal auditor and financial analyst,” said Max Messner, chairman and CEO of Robert Half International, in a prepared statement.
Hiring is projected to continue in the fourth quarter of 2006 and at a slightly slower rate into the first quarter of 2007. Additions of full-time accounting and finance positions are planned by 6 percent of responding CFOs, while 3 percent of CFOs expect to decrease their staff numbers. The resulting 3 percent falls one point below the number projected for fourth quarter of 2006, according to Yahoo Finance.
No change in hiring activity is projected by 90 percent of respondents. Comparative figures for the last two years shows that 2005 was a slightly better year than 2006, according to Robert Half International.
Regional hiring will be lead by Pacific states followed by the East, South, Central and New England, according to regional survey figures. Yahoo Finance reports all these areas are expected to exceed the national hiring average.
Messner continued in a prepared statement, “Companies in the Pacific region are looking for mid-level accounting and finance professionals to assist them with growing workloads. Demand is strong in areas such as payroll, budget forecasting and corporate governance.”
Hiring by industry saw business services projecting the most gains, according to survey figures sorted by industries. Industries such as construction, retail and finance, insurance and real estate are expected to exceed the national average as well, according to Robert Half International.
Business growth was the highest factor by far, at 55 percent driving demand for accounting and finance professionals. Robert Half International reports that factors such as rising workloads came to 21 percent and increase in profitability amounted to 12 percent of survey results.
More information is available about the quarterly Financial Hiring Index and Robert Half International at www.rhi.com.