25 Percent Of Philadelphia CFOs Say Their Companies Will Hire For New Positions In Next Six Months
Survey Finds Majority of Companies Optimistic About Business Growth
PHILADELPHIA, Sept. 11, 2104 /PRNewswire/ -- Twenty-five percent of chief financial officers (CFOs) in the Philadelphia area report their companies will be creating new jobs in the next six months, according to the Philadelphia Professional Employment Forecast From Robert Half. Sixty-three percent of finance executives said they will be maintaining personnel levels, adding staff only to fill vacated positions. Nine percent of respondents will not be hiring, even to fill an open position, and 1 percent plan to reduce staff levels.
The Professional Employment Forecast was developed by Robert Half, the world's first and largest specialized staffing firm, and conducted by an independent research firm. The local results are based on interviews with 100 CFOs from a stratified random sample of companies in the Philadelphia area with 20 or more employees. Executives were asked about their hiring and business outlook, including plans to add professional-level employees, for example, staff in the accounting, human resources, administrative, legal, marketing and information technology fields.
CFOs were asked, "What are your company's hiring plans for full-time professional-level employees in the next six months?" Their responses:
| Expanding – adding new positions |
25% |
| Maintaining – only filling vacated positions |
63% |
| Freezing – not filling vacated positions or creating new ones |
9% |
| Reducing – eliminating positions |
1% |
| Don't know/no answer |
2% |
| 100% |
View an infographic featuring the survey results.
"Businesses are optimistic about their growth prospects, and, as a result, they are focused on retaining their current talent and attracting new candidates with in-demand skill sets," said Stephanie Naznitsky, regional vice president for Robert Half in Philadelphia. "With low unemployment rates for many specialized roles, job seekers commonly receive multiple offers."
Recruiting Challenges
The survey results suggest organizations looking to expand and add staff may face difficulties. The majority of CFOs surveyed (74 percent) said it is at least somewhat challenging to find skilled candidates for professional-level positions today.
Business Confidence
Executives are optimistic about their business prospects. Ninety-one percent of CFOs expressed confidence in their company's growth potential for the next six months, with 45 percent of respondents saying they are very confident.
Spotlight on Salary Negotiations
In another sign the job market is heating up, many employers appear to be negotiating more frequently with top job candidates. Fifty-two percent of respondents said they're more willing to negotiate salaries than they were 12 months ago, compared to just 11 percent who are less willing.
About Robert Half
Founded in 1948, Robert Half is the world's first and largest specialized staffing firm. The Menlo Park-based company has more than 340 staffing locations worldwide and offers online job search and management tools at roberthalf.com. For career and management advice, follow our blog at blog.roberthalf.com.
Note to editors: To speak with a local expert on employment trends in the Philadelphia area, please contact Lisa Montagna at (727) 576-7717.
SOURCE Robert Half
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