Canadian CFOs Forecast Fourth Quarter Hiring
Thirteen percent of Chief Financial Officers (CFOs) at Canadian companies expect to add staff during the fourth quarter of 2005 according to the latest Robert Half International Financial Hiring Index. Only 2 percent of those surveyed expect to reduce staffing levels while 82 percent do not expect any change to current staffing levels.
“Businesses are adding accounting and finance personnel to support new system upgrades and business expansion,” Jeff Holloway, a vice-president of Robert Half International said in announcing the findings. “Corporate governance initiatives also continue to fuel financial hiring as companies seek to strengthen internal controls and improve business processes.”
According to the Index, the most hiring is expected to occur in the retail industry where 26 percent of CFOs plan to increase staffing levels. No CFOs surveyed from the retail industry anticipate staff reductions. Hiring is also expected to be strong in the business and professional services sector where survey results indicate a net 19 percent of business services CFOs and a net 14 percent of professional services CFOs anticipate adding staff according to Index results.
The Index reveals that the primary reasons given for adding staff among those planning to hire during the fourth quarter, include:
- Systems Upgrades or Changes (38 percent)
- Business Growth (26 percent)
- Increased Workloads (25 percent)