Economic News/Trends and Analysis — March 11, 2010

CFOs Report On Second Quarter Hiring Expectations

Survey Finds Most Executives Confident They Will See Business Growth Next Quarter

TORONTO, March 11 /CNW/ - Five per cent of chief financial officers (CFOs) interviewed for the Robert Half International Financial Hiring Index indicated they plan to add full-time accounting and finance employees during the second quarter, while 1 per cent expect staff reductions. The net 4 percent increase is up two points from the first quarter projection and is the highest forecast since the second quarter of 2009.

In addition, the survey found most CFOs are optimistic about the outlook for their businesses in the next three months. Eighty per cent said they are at least somewhat confident in their companies' second-quarter growth prospects; 33 per cent are very confident.

The Robert Half International Financial Hiring Index is based on telephone interviews with more than 270 CFOs across Canada. It was conducted by an independent research firm and developed by Robert Half International, the world's first and largest staffing services firm specializing in accounting and finance.

"As the economy improves, some companies are hiring additional financial professionals to manage initiatives ranging from financial reporting to tax and compliance," said Dianne Hunnam-Jones, a director with Robert Half International's Canadian operations. "Some companies not quite ready to make full-time hires are bringing in project and temporary professionals to provide assistance with critical projects and rising workloads."

    Accounting and Finance Hiring - By Industry
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CFOs in the retail sector are most optimistic about their hiring plans for the second quarter, with 19 per cent of executives forecasting personnel increases and none anticipating staff reductions.

About the Robert Half International Financial Hiring Index

The Robert Half International Financial Hiring Index was conducted by an independent research firm and is based on more than 270 telephone interviews with CFOs from a random sample of Canadian companies with 20 or more employees. For the study to be statistically representative and ensure that businesses from all segments were represented, the sample was stratified by geographic region and company size (by number of employees). The results were then weighted to reflect the proper proportions of company size within each region.

The Financial Hiring Index is conducted as part of the Robert Half Professional Employment Report, which tracks hiring trends among professional occupations. More information about the Professional Employment Report is available at www.roberthalf.ca/per.

About Robert Half International

Robert Half International was founded in 1948 and is traded on the New York Stock Exchange. Its financial staffing divisions include Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources, for temporary, full-time and senior-level project professionals, respectively. The company has more than 365 staffing locations worldwide and offers online job search services on its divisional websites, all of which can be accessed at www.roberthalf.ca.

For further information: Kristie Perrotte, (416) 350-2330, kristie.perrotte@rhi.com

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Updated 15:57 CST, February 11, 2012  

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