CFOs Expect More Hiring During Third Quarter

Chief financial officers (CFOs) anticipate increased hiring activity in accounting and finance in the third quarter, according to the most recent Robert Half International Hiring Index. Seven percent of executives polled plan to bring in full-time employees, while only 3 percent plan staff reductions, resulting in a net increase of 4 percent, up 3 points over the second-quarter forecast.


All Aboard the High-Velocity 2006 FRx Express! FRx Software has the engine fired up again to travel nationwide with timely training and expert guidance! Microsoft FRx and Microsoft Forecaster users, potential users and resellers don’t miss this FREE*, half-day event!

Once you’re on board, the FRx Software experts will help you gain tremendous insight into Microsoft FRx and Microsoft Forecaster. You’ll have the opportunity to hear customer perspectives and network with prospects plus pack in useful tips, and see the features and benefits of FRx Software’s financial analytic applications. Register now!

FRx Software Home Product Information
Training & Consulting Product Demo
Webcast Customer Testimonial Video

“Companies are expanding and moving forward with new projects,” Max Messmer, chairman and CEO of Robert Half International, said in a prepared statement announcing the survey results. “As a result, firms are seeking accounting personnel – in particular, staff and senior accountants – to support growth initiatives.”

Among CFOs expecting to hire, 43 percent cite business growth as the primary factor driving demand and 24 percent report increasing workloads are creating demand for more staff.

“The rising demand has led to competition for top talent, and, in many cases, employers are expediting their hiring processes to avoid losing strong candidates to other career opportunities,” Messmer concluded.

Regional Hiring

Accounting and financial hiring is projected to be strongest in the Pacific and West South Central states. A net 7 percent of CFOs in each of these regions expect to add accounting and finance staff in the third quarter.

“As hiring picks up in the Pacific states, there is a premium on experienced accounting and finance personnel,” said Messmer. “For many financial executives, corporate governance compliance is driving the need for additional employees. Demand is especially high for individuals who possess U.S. Securities and Exchange Commission-reporting experience.

“Led by the energy and manufacturing sectors, hiring in the West South Central region has accelerated,” Messmer adds. “The labor market has tightened in many cities, and experienced professionals often receive multiple employment offers.”

Hiring by Industry

Executives in the construction industry are most optimistic about their hiring plans, with 19 percent of CFOs in this sector anticipating hiring full-time accounting and finance employees in the third quarter and none expects to reduce personnel levels.

Hiring activity in finance, insurance and real estate is expected to outpace the national projection as well. A net 8 percent of those surveyed in this sector indicated they plan to expand their teams. The retail industry is also forecast to see above average gains. A net 7 percent of executives anticipate bringing in additional staff during the quarter.

The Robert Half Financial Hiring Index is a national poll that includes responses from more than 1,400 CFOs from a stratified random sample of U.S. Companies with 20 or more employees. It was conducted by an independent research firm and developed by Robert Half International Inc., the world’s largest staffing services firm specializing in accounting, finance, and information technology. Robert Half International has been tracking financial hiring activity in the U.S. since 1992.

You may like these other stories...

2013 marked the third consecutive year CPA firms in the United States saw a spike in annual revenues, according to the latest national practice management benchmarking survey by The Rosenberg Associates Ltd. and The Growth...
A new survey released on Thursday by the Financial Executives Research Foundation (FERF) found that public companies paid an average of $7.1 million in audit fees last year, an increase of 4.5 percent over audit fees paid in...
The 2014 proxy season saw significant growth in audit committee transparency, continuing a recent trend of Fortune 100 companies going beyond the minimum disclosures required, according to a new report from Ernst & Young...

Already a member? log in here.

Upcoming CPE Webinars

Oct 30Many Excel users have a love-hate relationship with workbook links.
Nov 5Join CPA thought leader and peer reviewer Rob Cameron and learn ways to improve the outcome of your peer reviews while maximizing the value of your engagement workflow.
Nov 12This webcast presents basic principles of revenue recognition, including new ASU 2014-09 for the contract method. Also, CPAs in industries who want a refresher on revenue accounting standards will benefit.
Nov 18In this session Excel expert David Ringstrom, CPA tackles what to do when bad things happen to good spreadsheets.