CFOs Expect Little Change In Hiring Activity In Fourth Quarter

    Survey Finds Wholesale Industry Expecting Greatest Growth

    TORONTO, Sept. 8 /CNW/ - Most financial executives plan to maintain their
current accounting and finance staff levels in the fourth quarter, according
to the Robert Half International Financial Hiring Index. Eighty-four per cent
of chief financial officers (CFOs) interviewed said they will take no hiring
actions before the end of the year. Six per cent of respondents expect to add
full-time employees while 9 per cent foresee cutbacks. The net 3 per cent
decrease is unchanged from last quarter.
    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.
    "Companies appear to be hesitant about adding full-time staff until there
is more certainty about the economic recovery," said Kathryn Bolt, president
of Robert Half International's Canadian operations. "Some employers,
challenged with rising workloads as the result of cuts in staffing levels, are
bringing in temporary professionals to help with critical projects and
    Despite current unemployment levels, CFOs continue to report challenges
finding highly skilled professionals for certain functional areas. Thirty per
cent of financial executives said accounting positions are the most difficult
to fill, while operational support roles was cited by 18 per cent of
    In terms of hiring by company size, a net 13 per cent of businesses with
50-99 employees plan to add finance and accounting staff before the end of the
year. This is sixteen points above the national average.

    Accounting and Finance Hiring - By Industry

    The wholesale industry is projected to see an increase in accounting and
finance hiring. A net 13 per cent of CFOs in the sector said they plan to add
staff in the fourth quarter.

    About the Robert Half International Financial Hiring Index

    First published in 1992, 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.

    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 360 staffing locations worldwide and offers online job
search services on its divisional websites, all of which can be accessed at

For further information:

For further information: Kristie Perrotte, (416) 350-2330,

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Robert Half International (Canada)

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