Menlo Park, Calif. - Plans to hire accounting and finance professionals apparently aren't on the list of New Year's resolutions of most chief financial officers, according to a Robert Half International survey.The vast majority of CFOs surveyed (86 percent) forecast no change in staffing levels for the first quarter of 2005, according to the latest RHI Financial Hiring Index, which polled 1,400 CFOs. Nine percent of executives plan to add accounting and finance staff in the first quarter, while 4 percent anticipate reductions in personnel.

The projected net 5 percent increase in hiring is down one point from last quarter's forecast, but is three points above projections made this time last year, according to RHI.

Sixty-five percent of executives who plan to hire during the first quarter of 2005 cited business growth as the primary driver, up seven points from the fourth quarter 2004 survey.

By region, CFOs in the West South Central region are forecasting the greatest hiring activity during the first quarter, with a net 9 percent planning to add full-time accounting and finance employees.

The West North Central and Mountain states are also projecting hiring activity above the national average, with a net 8 percent and 7 percent of CFOs, respectively, expecting to bring in accounting and finance staff during the first quarter. A net 6 percent of executives in the South Atlantic and East South Central regions of the country plan to add full-time staff in the coming months.

By industry, financial hiring in the wholesale sector is expected to outpace all other industries, with 14 percent of executives polled expecting to add personnel and none forecasting personnel declines.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access