Study forecasts hiring increase for finance pros

ompanies are hiring people for first-quarter requirements

Chief financial officers forecast a net 7 percent increase in the hiring of accounting and finance professionals in the first quarter of 2000, according to the Robert Half International Financial Hiring Index, released Dec. 30, 1999.

Ten percent of CFOs surveyed said their companies plan to hire additional staff and only 3 percent expect personnel reductions.

Eighty-six percent of executives anticipate no change in hiring activity. A net 10 percent increase in hiring was forecast in the previous quarter.

The national poll includes responses from 1,400 CFOs from a stratified random sample of companies with more than 20 employees.

It was conducted by an independent research firm and developed by Robert Half International Inc., the world's largest staffing services firm specializing in the accounting, finance and information technology fields.

"Our offices are seeing notable demand for temporary and project professionals to assist organizations with first quarter requirements, such as tax and other government filings, as well as the implementation of (year 2000) business plans," said Max Messmer, chairman and CEO of Robert Half International, in a release.

Messmer added, "Technology initiatives remain a high priority for many firms, fueling a need for accountants who can play active roles on these projects. Competition is particularly strong nationwide for candidates experienced with assessing the financial implications of e-commerce strategies and collaborating with information technology staff on financial systems conversions and upgrades."

Accounting and financial hiring by region

CFOs in the New England region are most optimistic about hiring activity during the first three months of the year.

Sixteen percent of executives indicated they expect to add accounting and finance staff, and only 2 percent anticipate cutbacks, for a net hiring increase of 14 percent.

"Expansion in such industries as high-technology, financial services and manufacturing is generating demand for accounting support at all levels, from staff accountants to financial managers," Messmer said.

Strong employment growth is also forecast in the South Atlantic states.

Fourteen percent of CFOs said they plan to expand their accounting and finance departments, while 3 percent foresee reductions, for a net 11 percent increase in hiring.

Executives in the West North Central states (including Missouri), the East South Central and the West South Central states also project financial hiring activity above the national average, with each forecasting a net 8 percent increase in hiring.

Accounting and financial hiring by industry

The retail industry is expected to experience notable hiring activity in the first quarter of 2000, according to the survey.

Seventeen percent of CFOs said they plan to add accounting and finance staff and only 1 percent forecast personnel reductions, for a net 16 percent increase in hiring.

Staffing activity is also forecast to exceed the national average in the wholesale industry and in the finance, insurance and real estate sector.

CFOs in the wholesale industry anticipate a net 13 percent increase in hiring, while executives in the finance, insurance and real estate sector project a net 8 percent increase.