New York City 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

NEW YORK, June 10, 2013 /PRNewswire/ -- Twelve percent of chief financial officers (CFOs) in the New York City area expect to add new professional-level positions in the third quarter, according to the New York City Professional Employment Forecast from Robert Half. Eleven percent of respondents will not be hiring, even to fill an open position, and 7 percent plan to reduce staff levels. Another 70 percent said they will hire for roles that open during the next three months.

Despite a somewhat cautious hiring outlook, most executives are optimistic about their business prospects for the third quarter. More than 9 in 10 (93 percent) CFOs expressed confidence in their company's growth potential for the quarter, with 36 percent of respondents saying they are very confident.

The survey suggests, however, organizations looking to expand and add staff may face difficulties. More than half of the CFOs surveyed, 56 percent, said it is at least somewhat challenging to find skilled candidates for professional-level positions today.

"Hiring is expected to remain steady, especially in specialties such as accounting and information technology where we are seeing a shortage of qualified candidates," said Dawn Fay, district president for Robert Half in New York City. "Firms in the real estate, healthcare and the nonprofit sector, in particular, are increasingly competing for skilled professionals."

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 New York 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%	15%
Maintaining -- only filling vacated positions	70%	68%
Freezing -- not filling vacated positions or creating new ones	11%	11%
Reducing -- eliminating positions	7%	6%
Don't know/no answer	1%	0%
	101%*	100%
*Numbers do not total 100 percent due to rounding