Philadelphia CFOs Reveal Hiring Plans For Next Six Months

Survey Finds Increasing Number of Philadelphia Companies Face Recruiting Challenges

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Sep 08, 2015, 08:15 ET

PHILADELPHIA, Sept. 8, 2015 /PRNewswire/ -- The just-released Philadelphia Professional Employment Forecast from Robert Half shows 13 percent of Philadelphia area chief financial officers (CFOs) expect their company to create new jobs in the next six months. Another 71 percent plan to hire for open roles.

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

Philadelphia CFOs Reveal Hiring Plans For Next Six Months

	Sept. 2015 – Feb. 2016	March – Aug. 2015
Expanding – adding new positions	13%	19%
Maintaining – only filling vacated positions	71%	67%
Freezing – not filling vacated positions or creating new ones	11%	10%
Reducing – eliminating positions	4%	3%
Don't know/no answer	1%	1%

View an infographic featuring the survey results.

"System conversions, regulatory compliance and Sarbanes-Oxley initiatives are driving hiring, particularly in the manufacturing, healthcare and nonprofit sectors," said Stephanie Naznitsky, regional vice president for Robert Half in Philadelphia. "Local companies that recognize the tightening labor market conditions are reducing steps in their hiring process and securing highly skilled candidates over companies that prolong the hiring process."

Recruiting Challenges
Organizations looking to add staff may face difficulties, Robert Half's research shows. Fifty-eight percent of Philadelphia area CFOs surveyed said it's somewhat or very challenging to find skilled candidates for professional-level positions today.

Business Confidence
According to the Professional Employment Forecast, Philadelphia area CFOs are optimistic about their company's growth. Eighty-six percent of executives reported being somewhat or very confident in their company's prospects for growth in the next six months.

Compensation Upgrades
To address staffing challenges, some local firms are strengthening the salary and benefits they offer. Thirty percent of Philadelphia area CFOs said they have modified their company's compensation plan in the past 12 months as a way to enhance recruiting and retention efforts.

About the Professional Employment Forecast
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-period rolling average based on interviews with 200 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 in areas such as accounting, human resources, administrative, legal, marketing and information technology.

About Robert Half
Founded in 1948, Robert Half is the world's first and largest specialized staffing firm. The Menlo Park, Calif.-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 roberthalf.com/philadelphia.

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SOURCE Robert Half