EIGHT PERCENT OF CHIEF FINANCIAL OFFICERS surveyed for the Robert Half International quarterly Financial Hiring Index plan to add full-time accounting staff during the first quarter of 2006. Eight percent, however, anticipate personnel reductions and 79 percent of executives polled expect no change in their staffing levels in the first three months of the new year.
The national poll 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, a staffing services firm specializing in accounting, finance and information technology.
The projected net increase in hiring activity represents a four point decline from the fourthquarter 2005 survey.
While the number of CFOs who plan to add staff increased by one point from the prior quarter, the level of executives anticipating cutbacks rose, as well. Five percent of executives said they are undecided about
first-quarter hiring.
"Growing corporate expenses, including rising health care and energy costs, may be contributing to a more cautious hiring environment," says Max Messmer, chairman and CEO of Robert Half International. "However,
skilled accountants are always in demand, particularly in the current market. Companies that proactively seek top professionals will be best prepared to take advantage of new business opportunities."
Thirty-eight percent of executives who plan to add personnel in the first quarter said business growth was the primary factor driving demand. Fifteen percent cited staffing issues, such as attrition, and 13 percent noted rising workloads.
CFOs in the Pacific states were the most optimistic about first-quarter hiring activity. Twelve percent of those polled plan to hire fulltime accounting staff and three percent forecast decreases in personnel levels, which is a
9 percent increase.
"Companies in the Pacific region, especially those in the real estate and construction industries, are adding staff to support growth initiatives," Messmer says. "As the competition for candidates intensifies, many firms are experiencing a shortage of skilled accounting professionals and, as a result, find they must offer higher salaries and better benefits to secure the best people."
The South Atlantic region also is expected to see above-average hiring activity. A net 4 percent of executives surveyed anticipate expanding their accounting departments in the coming quarter.
The retail industry is projected to outpace all other sectors in hiring activity. A net 13 percent of CFOs with retail firms expect to bring in accounting professionals during the first quarter.
Manufacturing and finance executives also forecast growth in the coming months; a net 4 percent of respondents from each sector plan to add full-time staff.
For a more detailed list of results, visit www.roberthalf.com/PressRoom.
