Philadelphia 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

PHILADELPHIA, June 10, 2013 /PRNewswire/ -- Eleven percent of chief financial officers (CFOs) in the Philadelphia area expect to add new professional-level positions in the third quarter, according to the Philadelphia Professional Employment Forecast from Robert Half. Fifteen percent of respondents will not be hiring, even to fill an open position, and 2 percent plan to reduce staff levels. Another 71 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 9 in 10 (89 percent) of CFOs expressed confidence in their company's growth potential for the quarter, with 34 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, 53 percent, said it is at least somewhat challenging to find skilled candidates for professional-level positions today.

"Manufacturing, pharmaceutical and medical device companies continue to drive hiring in the Philadelphia area," said Lori Hourigan, regional vice president for Robert Half in Philadelphia. "We're seeing businesses expand their staffing levels to take on more projects and position themselves for growth."

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 Philadelphia 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	11%	13%
Maintaining -- only filling vacated positions	71%	75%
Freezing -- not filling vacated positions or creating new ones	15%	9%
Reducing -- eliminating positions	2%	3%
Don't know/no answer	2%	0%
	101%*	100%
*Responses do not total 100 percent due to rounding