CFOs Report on Financial Hiring Plans for Third Quarter

    New Survey Suggests Majority of CFOs Will Maintain Current Staff Levels

    TORONTO, June 4 /CNW/ - Canadian executives interviewed recently for the
Robert Half International Financial Hiring Index said that, for the most part,
staff levels in their accounting and finance departments will remain unchanged
in the third quarter. Eighty-three per cent of chief financial officers (CFOs)
interviewed said they would neither increase nor decrease the size of their
teams. Eight per cent of respondents anticipate adding personnel in the coming
quarter while six per cent are expecting staff reductions.
    Research shows employers continue to have difficulty locating skilled
employees. Operational support positions, such as accounts payable, billing,
payroll, and credit and collections, are the most challenging to hire for,
according to 28 per cent of CFOs; accounting roles were cited by 17 per cent
of respondents as the hardest to fill.
    The 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.
    "Many organizations are recruiting accounting and finance staff to
support business expansion initiatives," said Mike Gooley, a chartered
accountant and branch manager with Robert Half International. "To attract and
retain skilled financial professionals, firms are reassessing their hiring
practices and enhancing compensation packages for current staff."
    Eighty per cent of CFOs who expect to expand their staff size in the
first quarter said business growth is creating the need for additional
personnel; 16 per cent of executives attributed the need to hire to financial
systems upgrades.

    Accounting and Financial Hiring -- By Industry
    The financial hiring outlook is most optimistic among business services
firms. Twenty-nine per cent of CFOs in the sector plan to increase personnel
levels, and 2 per cent foresee reductions, a net 27 per cent increase.
    Hiring activity also is expected to outpace the national average in the
professional services industry. A net 14 per cent of CFOs interviewed in this
sector anticipate adding staff.

    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
industry and employee size. The results were then weighted to reflect the
proper proportions of employee size within each industry.

    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

    EDITOR'S NOTE: To schedule an interview for local commentary in Toronto,
    Calgary, Edmonton, Winnipeg or Vancouver, please contact Jim Dimovski at
    416-350-2330 extension 62024. Canadian hiring outlook data for
    information technology also available.

For further information:

For further information: ROBERT HALF INTERNATIONAL, Contact: Jim
Dimovski, (416) 350-2330,

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Robert Half International (Canada)

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