CFOs Project Slight Hiring Increase in Third-Quarter

    Business Services Industry Projected to See Greatest Hiring Increases

    TORONTO, June 11 /CNW/ - Employers are expected to be conservatively
optimistic about adding accounting and finance professionals in the third
quarter, according to the Robert Half International Financial Hiring Index.
Twelve per cent of chief financial officers (CFOs) expect to hire full-time
employees during the third quarter while 6 per cent anticipate personnel
reductions. The net 6 per cent increase is up one point from the
second-quarter forecast.
    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.
    Among executives who said they plan to hire in the third quarter, 36 per
cent reported business growth or expansion as the primary factor driving
hiring demand. Financial systems upgrades was the second most commonly cited
answer with 30 per cent of the response, followed by regulatory requirements,
identified by 18 per cent of respondents.
    "Businesses need highly skilled accounting and finance staff to improve
efficiencies, address regulatory requirements and prepare for growth
opportunities," said Kathryn Bolt, president of Robert Half International's
Canadian operations. "Some employers are gaining a competitive advantage by
tapping the larger pool of skilled professionals now available to upgrade
their teams' abilities and experience level."
    Financial executives continue to report difficulty finding highly skilled
professionals for certain functional areas. Twenty-five per cent of CFOs said
audit roles are the most difficult to fill. Twenty-one percent of respondents
said they experience the greatest challenges when hiring for operational
support roles such as accounts payable, credit and collections.

    Accounting and Finance Hiring -- By Industry

    Among industries, 21 per cent of business services CFOs expect to
increase hiring in the third quarter and none plan to reduce the size of their
accounting and finance workforce, for a net 21 per cent increase. In the
professional services sector, 17 per cent of CFOs anticipate hiring more staff
and 1 per cent expect personnel cutbacks, for a net 16 per cent increase.

    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.

    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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