Chicago CFOs Report Third-Quarter Hiring Plans

Survey Finds Majority of Companies Optimistic About Business Growth During Quarter

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Jun 10, 2013, 09:00 ET

CHICAGO, June 10, 2013 /PRNewswire/ -- Twelve percent of chief financial officers (CFOs) in the Chicago area expect to add new professional-level positions in the third quarter, according to the Chicago Professional Employment Forecast from Robert Half. Fifteen percent of respondents will not be hiring, even to fill an open position, and 6 percent plan to reduce staff levels. Another 65 percent said they will hire for roles that open during the next three months.

Most executives are optimistic about their business prospects for the third quarter. Nearly nine in 10 (86 percent) CFOs expressed confidence in their company's growth potential for the quarter, with 42 percent of respondents saying they are very confident.

The survey suggests, however, organizations looking to expand and add staff may face difficulties. Nearly half of CFOs surveyed, 49 percent, said it is at least somewhat challenging to find skilled candidates for professional-level positions today.

"Though companies are still generally conservative in their hiring outlooks, many are expanding their accounting and finance departments and need professionals with the right skills to help them accommodate new growth opportunities," said Marilyn Bird, district president for Robert Half in Chicago. "Particularly in growing industries like healthcare, construction, education and manufacturing, businesses are looking for candidates to fill high-demand positions such as operations analytics, functional accounting roles and inside sales."

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 reflect a two-quarter rolling average based on interviews with 200 CFOs from a stratified random sample of companies in the Chicago area with 20 or more employees.

CFOs were asked, "What are your company's hiring plans for full-time professional-level employees in the third quarter?" Their responses:

	Third Quarter	Second Quarter
Expanding -- adding new positions	12%	12%
Maintaining -- only filling vacated positions	65%	77%
Freezing -- not filling vacated positions or creating new ones	15%	9%
Reducing -- eliminating positions	6%	2%
Don't know/no answer	1%	0%
	99%*	00%

*Responses do not total 100 percent due to rounding.