CFOs Forecast Slight Hiring Uptick

“A growing number of businesses are adding accounting and finance personnel to support expansion plans,” said Max Messmer, chairman and CEO of Robert Half International. “This has led to demand for staff and senior accountants, as well as financial analysts who can help with budgeting and forecasting.”

Messmer added, “Corporate governance mandates also continue to fuel financial hiring activity, both on a full-time and consulting basis. Many organizations underestimated the resources required for compliance initiatives and now seek experienced accounting professionals to help them assess and strengthen their internal controls and assist with remediation efforts.”

Among executives who plan to hire in the fourth quarter, 55 percent said business growth is the primary reason. Fourteen percent of respondents cited rising workloads.

The West North Central region (1) is expected to see the greatest hiring activity in the fourth quarter. Nine percent of CFOs from these states plan to add to their accounting teams and two percent expect cutbacks, a net seven percent increase.

“The improving manufacturing outlook has created a need for cost accountants and controllers among firms in the West North Central states,” noted Messmer. “Companies in a variety of industries across the region seek internal audit professionals and senior and staff accountants for corporate governance projects.”

The Middle Atlantic region (2) forecasts above-average hiring activity as well. A net six percent of executives in this area anticipate bringing in full-time accountants before the end of the year.

Hiring in the finance, insurance and real estate industry is expected to outpace all other sectors. Nineteen percent of CFOs plan to augment their teams while none expect personnel reductions. The transportation and construction sectors forecast strong hiring activity as well.